| Europe Market Update Archive: |
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Oil and Gas Stocks Lead Europe Lower
Nov 23, 3:23 PM EST |
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| Mobile-phone operator Vodafone Group was among gainers, rising by 1.1%. Scottish oil explorer Cairn Energy's stock advanced 2.7%. |
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| European stock markets finished mostly in the red on Thursday as weakness in oil and gas companies along with sharp losses for transport stocks dragged down indexes. The French CAC 40 dropped 0.5%, with Air France-KLM posting a loss of 6.5%. Oil-heavy London FTSE 100 closed down 0.3%, with oil majors BP and Royal Dutch Shell losing 0.7%. The German DAX 30 finished flat at 6,476.12, reversing from an earlier rise on the back of upbeat economic data. |
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Europe Slips on Thin Trading
Nov 23, 6:30 AM EST |
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| European stocks edged lower on Thursday as financial stocks sank and trade was thin and lacked direction. |
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| With the closure of US and Tokyo markets for public holidays, European stocks declined for a second day. Earnings at Air France-KLM Group, the biggest airline in the region, and KBC Group NV, the second largest financial-services company in Belgium, also disappointed investors. By mid morning, the FTSE 100 in London lost 0.3%, Frankfurt’s Xetra Dax fell 0.1%, and the CAC 40 in Paris shed 0.2%. |
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Dollar, Oil Decline, Dell Rise
Nov 22, 4:13 PM EST |
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| Dollar declined on the weekly job report and oil dropped on the crude oil inventory rise. Dell rose on preliminary earnings report. |
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| General Motors stock dropped 4.7% on the news that Kirkorian controlled investment vehicle has cut its GM holding by 25%. The billionaire investor has sold 14 million shares and cut its holding down to 42 million shares, representing only 7.4% stake in GM. The U.S. dollar dropped on the job report showing more people filing for unemployment report. Initial jobless claims increased by 12,000 to 321,000. |
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Germany up, France and U.K. Down
Nov 22, 1:18 PM EST |
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| Deutsche Boerse rose 6%, extending gains when speculation re-emerged over a possible offer for Spain's Bolsas Y Mercados. |
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| European stock markets finished mixed as disappointing U.S. economic data offset gains in the airline sector. Airlines showed strength on bid speculation. Deutsche Lufthansa rose 1.9%, shares of British Airways rose 2.1%, and Air France-KLM shares gained 3.2%. The German DAX 30 advanced 0.2%, supported by Techem which climbed 7.8%. The French CAC 40 edged down 0.1%, while London FTSE 100 moved notably down 0.7%. |
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Holiday Sales Drive Stocks
Nov 21, 4:13 PM EST |
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| Oil settled above $60 on Alaska loading restrictions on weather conditions. Deere gained 7% on higher earnings. Master Card crossed $100. |
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| Market averages lost its mid-day trading momentum as oil gained. Oil rose and settled above $60. Weather conditions in Alaska prevented oil tankers loading. Deere & Co stock rose 6.55% on 19% jump in earnings on higher farm equipment prices. Google gained $14.60 to close at $509.65. Niche apparel retailers rose in anticipation of better holiday sales. Nordstrom gained 4.5% on earnings. |
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Europe Ends Modestly Higher
Nov 21, 1:02 PM EST |
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| Henkel and in Deutsche Bank rose 3.8% and 2.3% respectively after Merrill Lynch raised its price target for both companies. |
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| European stock markets finished modestly higher Tuesday, as weakness in the auto sector offset gains in financial-services stocks. Oil producers BP and Total also lent support, gaining on higher crude prices. London FTSE 100 ended flat at 6,202.60, with shares in British Land rising 1.1%. The German DAX 30 edged up 0.12%, with Deutsche Boerse, up 3%. The French CAC 40 ended up 0.08%, supported by 1.9% gain for food group Danone. |
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Banks Lifts Europe
Nov 21, 6:41 AM EST |
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| European shares made slight gains on Tuesday morning, as banks and exports led markets higher. |
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| European stocks markets advanced on Tuesday as banks rallied, while luxury goods groups rebounded after data showed strong exports of Swiss watches. Results from Icap and British Land and an advance in the shares of stock exchange operator Deutsche Boerse also boosted the financial services sector. By mid morning, the FTSE 100 in London climbed 0.1%, Frankfurt Xetra Dax gained 0.2%, and the CAC 40 in Paris added 0.2%. |
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$70 B of Mergers
Nov 20, 4:29 PM EST |
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| Merger involving Phelps Dodge and Freeport-McMoran and Bank of America and U.S. Trust and others boosted early sentiment in the market. |
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| Blackstone Group, private equity group agreed to acquire Equity office Properties for $20 billion and assuming the debt of $16 billion. Bank of America agreed to purchase U.S. Trust from Charles Schwab for $3.3 billion to boost its private banking business. Nasdaq, the electronic market for tech and small companies, said that it has raised its stake in London Stock Exchnage to 28.75% and offered $5.1 billion. LSE rejected the offer and Nasdaq plans to take the offer directly to shareholders. |
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Merger Activity, Weak Oil Boost Europe
Nov 20, 1:15 PM EST |
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| Copper miner Antofagasta rose 4.1% and peer Lonmin rose 1.7% on recovery of gold prices from recent losses and consolidation hopes in the sector. |
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| European stock markets closed in the positive Monday, lifted by merger activity in the metal and exchange sectors and weaker crude oil prices. The German DAX 30 led the regional gainers with an advance of 0.62%. The index was boosted by 2% gain for defensive utility stocks RWE and E.On, as well as lower oil. The French CAC 40 gained 0.28% and London FTSE 100 added 0.2%. Oil sensitive stocks contributed to the advance, with airline Air France-KLM and cruise operator Carnival moving higher. |
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Europe Falls on Auto Shares
Nov 20, 6:32 AM EST |
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| European stock markets declined on Monday as auto and oil stocks extended their losses from last week. |
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| European stock markets fell on Monday as a number of heavily-weighted sectors, including media stocks, banks, oil producers and carmakers all dropped, extending the losses felt late last week. Carmakers rallied strongly at the begining of last week on bid talk but quickly fell after Porsche made it clear it was not planning a full takeover of Folkswagen. By mid morning, London FTSE 100 lost 0.5%, 1.Frankfurt Xetra Dax fell 0.5%, and the CAC 40 in Paris shed 0.8%. |
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