| Europe Market Update Archive: |
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Europe Higher on Merger Activity
Sep 21, 6:33 AM EDT |
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| Recovering from a weak start, European markets rallied by mid-morning Thursday, supported by merger activity in the pharma sector. |
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| The fact that German pharma company Merck has agreed to obtain a majority stake in Serono and the bid speculation in the Spanish property sector boosted Eurpean markets on Thursday. After a difficult morning, the FTSE climbed out of early losses as gains in the mining sector offset a slide in oil stocks. The FTSE 100 was up 0.31% at 5,873.6, while the German Xetra Dax added 0.2% and the French CAC 40 gained 0.2%. |
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Unchanged Rates, Falling Oil
Sep 20, 4:45 PM EDT |
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| Fed decision to leave rates unchanged and a fall in oil price kept markets averages in the rallying mode. Morgan Stanley operating profit up 59%. |
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| Federal Reserve left targeted discount rate unchanged to 5.25%, as widely expected. Ten of the eleven members of the committee voted in favor leaving the rate unchaged for the second time in a row. Fed refrenced to declining energy prices since August will help consumers in the accompanying notes and also noted that inflation pressures remain at elevated levels. Oil dropped 2%. |
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Europe Surges on Strong Buying Interest
Sep 20, 12:46 PM EDT |
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| Shares in supermarkets Ahold and Delhaize rose more than 1.3% on speculation they could merge. |
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| European markets closed steeply higher as software company SAP and supermarkets Ahold and Delhaize lifted buying interest. A notable decline by crude oil prices helped airline stocks move higher. The German DAX 30 surged 1.4%, helped by SAP and tire maker Continental. The French CAC 40 rallied 1.5%. London FTSE 100 advanced 0.5%, supported by hedge-fund operator Man Group. |
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Europe on Hold
Sep 20, 6:42 AM EDT |
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| European markets traded in a narrow range Wednesday, as investors took to the sidelines ahead of a meeting of the U.S. Fed. |
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| The meeting of the U.S. Federal Reserve interest rate setting committee scheduled for later in the day and the military coup in Thailand, which triggered overnight losses in Asian markets accounted for the hesitant start of European stocks, although gains from software firm SAP and supermarkets Ahold and Delhaize offered indexes some respite. The U.K. FTSE 100 index edged down less than 0.1%, while the German DAX Xetra 30 index advanced 0.3% and the French CAC-40 index increased 0.2%. |
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Falling Oil, Benign Inflation, Thai Coup
Sep 19, 4:58 PM EDT |
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| Benign inflation, near 4% drop in oil price and coup in Thailand topped investor focus. Yahoo led drop in Internet stocks. |
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| Market averages traded lower despite lower than expected wholesale inflation. Producer Price Index rose 0.1% but core index fell 0.4% for the month of August. Oil fell more than $2 on the news that OPEC may not have to cut the porduction in the coming years. Yahoo CEO said that financial and auto advertising is slowing dragging the stock 11% lower. Thai military launched a coup against the Prime Minister Thaskin. |
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European Shares Slide
Sep 19, 12:53 PM EDT |
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| Bank of Ireland rose 1.6% on expectations to deliver an excellent performance in the current half-year and raised its earnings forecast. |
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| European markets finished steeply in the red, despite benign U.S. wholesale inflation data and earnings-inspired gains. DaimlerChrysler lost 0.1% amid profit warning, while auto parts supplier GKN dropped 4.3% after UBS downgraded the company following DaimlerChrysler''s warning. London FTSE 100 dropped 1%, followed by the German DAX 30, down 0.9%, and CAC 40, down 0.6%. |
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Modest Start for Europe
Sep 19, 6:39 AM EDT |
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| European markets made a hesitant start to trading on Tuesday, struggling for direction as U.S. markets overnight finished flat. |
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| European stocks were little changed on Tuesday, as investors tracked U.S. cautious finish yesterday ahead of U.S. Federal Reserve interest rate meeting this week, despite positive results from miner Kazakhmys and the Bank of Ireland helped to limit downside. The U.K. FTSE 100 index was firm, the German DAX Xetra 30 index edged down 0.1% and the French CAC-40 index was flat. |
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Oil, Mergers and Current Acct Deficit
Sep 18, 4:05 PM EDT |
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| Oil rebounded at mid-day trading and gold surged $10. Current account deficit rose in the second quarter to $218 billion. |
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| Market averages failed to overcome rising oil price and news of widening current account deficit. In the early trading session merger and buyout news dominated trading. In the afternoon trading rise in oil price kept market averages in check. Oil gained 0.8% and gold rose near $10. Asian and Latin American markets rose across both regions. Home builders confidence fell to fifteen year low. |
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Autos Pressure Europe
Sep 18, 12:47 PM EDT |
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| BP added 1.1% amid reports that the company is set to launch a root-and-branch review of its global operations. |
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| European markets made a mixed performance at close as higher oil prices contributed to gains by commodities stocks but also pressured the automotive sector. German truck maker Man lost 5.3%, while Swedish counterpart Scania rose 5.9% after Scania rejected a $12.2 billion offer from Man. London FTSE 100 advanced 0.2%, the French CAC 40 erased earlier losses to close flat at 5,146, while the German DAX 30 fell 0.2%. |
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Europe Higher, Attention on Scania
Sep 18, 6:40 AM EDT |
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| Europe traded higher Monday after a cautious start on a light day for corporate earnings releases and economic data. |
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| European markets focused their attention on Scania after the Swedish truckmaker rejected an offer from MAN on Monday as European equity markets made advances. Commodity stocks and a slightly stronger end to Wall Street trading last week also offered support to indexes under pressure from auto stocks. The U.K. FTSE 100 index gained 0.1%, the German DAX Xetra 30 index was unchanged at 5,938 and the French CAC-40 index edged up 0.1%. |
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