Europe: statistics from the United States bears awoke from hibernation

Written by admin on August 27th, 2009

 

Thursday, 27 August, virtually all European stock markets have shown negative dynamics due to the fact that the number of problematic banks in the United States reached a maximum of fifteen, and the data on the U.S. labor market were worse than analysts' forecasts.

The key results of the auctions the UK FTSE 100 index dropped by 2.57%, French CAC 40 was closed in a minus on 3,04%, while the German DAX lowered from its asset 3,02%. Regional Dow Stoxx 600 index fell 2.78% and closed at a level of 202.48 points.

Number of primary applications for unemployment benefits fell in the United States last week to 10 thousand people and has reached 570 thousand, while the expected decrease to 565 thousand

number of problem banks in the U.S. grew in the second quarter of this year to 416 in connection with losses incurred in the banking sector. FDIC (Federal Deposit Insurance Corporation) has reported that the increased costs associated with the growth of bad loans and falling asset values, the losses of the banking sector reached $ 3.7 billion

Diageo shares fell 4.4% in trading in London after the world's largest producer of alcoholic drinks reported that the growth of its operating profit in 2010 fiscal year, much slower, because the prospects for reviving the global economy remain murky.

Paper Credit Agricole rose 3.9% due to the fact that the profit of the third by market value in France, the Bank of the second quarter rose more than 2 times. According to the report Credit Agricole, net profit reached 201 million euros ($ 286 million) due to reduction of losses in the investment banking division. For comparison, last year the figure was 76 million euros.


Quotations

its rival Natixis rose by 14% after Citigroup analysts raised their recommendations on the securities the bank to sell to hold. Thus, the two-day growth of Natixis shares reached 59%.

Papers of the largest in Hong Kong clothing retailer Esprit Holdings fell 15% after the company reported that its profit will likely begin to grow until next year.

Accor shares jumped 5.1% after reports that Europe's largest owner of the hotel chain Sofitel and Pullman intends to sell the unit for servicing payment cards. In addition, the French company said that the recovery of demand for tourist services in the second quarter is unlikely.

Papers of Peter Hambro Mining rose in price by 5,7% due to the fact that the profits of the British producer of gold, leading its operations in Russia grew by more than five times against the backdrop of increasing production.

Quotes IMI soared 14% due to the fact that profits are the world's largest manufacturer of pneumatic control systems in the first half of the year surpassed expectations of analysts. Support for IMI shares also had a statement of the executive director of that company's revenue in the second quarter will increase due to increased orders from China, Eastern Europe and India.

TomTom shares finished the day in positive territory at 1.1% after the world's largest manufacturer of navigation systems for automobiles said the demand for the company's products in the second quarter recover.

Papers

the world's largest creditor to the municipal authorities Dexia fell 6.4% after the publication of disappointing financial results for the second quarter. Thus, Dexia profits fell to 283 million euros ($ 402 million), with increased reserves for bad loans. For comparison, last year the figure was 532 million euros.

FAS suspended proceedings against Railways on the grounds of breach of competition law
A pair of dollar /euro this week, will be traded within 1,4200-1,440
Putin: Russia's energy strategy implies a complete liberalization of energy market
Following Thursday Uralsvyazinform added 5,85%, VolgaTelecom and Dalsvyaz increased by 9,22% and 7,81% respectively
The weakest today were shares of oil companies: Gazprom, Lukoil and Tatneft lost nearly three percent
The Court of Cassation confirmed the violation Rosneft antimonopoly law
The RF Government approved a draft energy strategy for the period up to 2030
IMF fears slippages in the program of stand-by in Belarus
Positive statistic data from the U.S. failed to keep Russia's indexes from sliding into the «red zone»

 

Leave a Comment