| Europe Market Update Archive: |
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Europe Posts Steep Decline
May 12, 12:55 PM EDT |
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| Spanish telecommunications giant Telefonica fell 3% after reporting 40% quatrerly profit jump, helped by acquisitions of O2 and Cesky Telecom. |
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| European markets dropped to their lowest levels in two years. Stocks moved steeply down on concerns over inflation and interest rates. Negative sentiment was also generated by shares of steel companies which reported lower quarterly profit. Mittal Steel dropped 2.4% on 30% net income decline for Q1, while Arcelor fell 2.3%, on 20% profit decline. The German DAX 30 tumbled 2.3%, the French CAC 40 slid 2.1%, and London''''s FTSE 100 dropped 2.15%. |
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Europe Sinks in Early Trading
May 12, 7:42 AM EDT |
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| European shares plunged 1.5% in early trading on Friday, dragged down by the weak dollar, hitting exporters. |
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| The dollar sank to a one-year low versus the pound and the euro bringing up concerns of less-than expected translated earnings in Europe. Miners led the decliners, as they price their products in dollars with BHP Billiton and Kazakhmys shedding 4% each. Carmakers lost up to 3%. By 0948 GMT, the London FTSE 100 dropped 92.6 points, Germany''s DAX 30 shed 1.6 % and France''s CAC 40 fell 1.7 %. |
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Telecoms Drag Europe
May 11, 12:54 PM EDT |
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| Gold futures rallied to a new multi-year high of nearly $730 an ounce. Silver hit a 25-year peak, copper and platinum hit new records. |
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| European markets reversed from early gains to close down, pressured by weakness in the telecom sector, surging commodity prices and a steep decline in the Dow Industrial average. Deutsche Telekom fell 2.6%, followed by France Telecom and PT Group. The German DAX 30 dropped 1%, the French CAC 40 lost 0.3%, while London FTSE 100 slipped 0.7%, despite gains in miners and oil giants. |
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Commodities Lift Europe
May 11, 8:35 AM EDT |
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| Deutsche Telekom fell 1.9% after reporting Q1 profit rise of 9 .7% on growth at its mobile operations and the sales of a stake in Celcom Malaysia. |
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| European markets recovered on Thursday, following U.S. interest-rate increase overnight and receiving a strong support from commodity stocks. The biggest gainers were copper miner Xstrata and oil company BP. The German DAX 30 rose 0.5%, the French CAC 40 climbed 0.8%, and London FTSE 100 gained 0.3%. |
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Europe Ends Lower
May 10, 12:35 PM EDT |
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| Austrian oil giant OMV rose 3% in Vienna after agreeing to buy power provider Verbund in a deal valued at $16.6 billion. |
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| European markets extended earlier losses to finish in the negative ahead of the U.S. Fed Reserve interest-rate decision. Weaker dollar pressured export-related issues like tech stocks Infineon Technologies, Philips Electronics, and SAP. However, carmaker DaimlerChrysler rose 1.2% as Deutsche Bank upgraded the company to buy from hold. The German DAX 30 dropped 0.4%, the French CAC 40 declined 0.6%, and London’s FTSE 100 fell 0.4%. |
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DaimlerChrysler Helps Europe
May 10, 7:55 AM EDT |
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| Shares of Adecco, Swiss stuffing giant, rose 6.4% on better-than-forecast 59% profit rise. British retailer DSG International jumped 7.6% on sales. |
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| European stocks traded in a tight range at midday as investors were cautious ahead of the U.S. Fed Reserve interest-rate decision. In addition, weaker dollar pressured export-related stocks. Shares of tech companies like Infineon Technologies and Philips Electronics moved lower. Automakers were supported by DaimlerChrysler which rose 2.5% as Deutsche Bank upgraded the company stock. The German DAX 30 gained 0.2%, the French CAC 40 lost 0.1%, and London’s FTSE 100 edged down 0.03%. |
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Telecoms and Autos Lift Europe
May 09, 8:19 AM EDT |
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| Shares of Vodafone Group rose 3.2% on a report that U.S. Verizon Communications offered to buy out Vodafone's 45% stake in Verizon Wireless for $38 B. |
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| European markets rose at mid-day, lifted by gains in the telecoms and automotive sectors which helped offset weakness among technology stocks. Merger-and-acquisition deals provided some support with steelmaker Arcelor rising 2.3% on speculations that Mittal will raise its bid. The German DAX 30 added 0.2%, the French CAC 40 rose 0.4%, and London FTSE 100 climbed 0.6%. |
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Oil Weighs in London
May 08, 12:48 PM EDT |
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| Vodafone fell 1.6% after the mobile-phone giant said it will slash fees for calls made while traveling in Europe by at least 40% next year. |
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| European stocks closed mixed as declining oil prices helped markets in Germany and France but weighed on commodity-sensitive London FTSE 100. The German DAX 30 rose 0.25%, the French CAC 40 reversed from a 4 ½-year high reached earlier in the session to close down 0.1%, while the U.K.’s FTSE 100 fell 0.4% as gas company BG Group and oil giants BP and Royal Dutch Shell weighed. |
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Europe Trades Mixed
May 08, 8:25 AM EDT |
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| EADS shares climbed 1.8% after Merrill Lynch upgraded the aerospace company to buy. Shares of Adidas-Salomon rose 2.4% on football-related news. |
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| European markets traded mixed at mid-day as declining oil prices helped markets in Germany and France hit 4 1/2-year highs but weighed on the commodity-sensitive London FTSE 100. All markets gained on strong U.S. markets close Friday after weaker jobs report helped ease interest rate concerns. The German DAX 30 rose 0.5%, the French CAC 40 added 0.4%, while the U.K.’s FTSE 100 fell 0.2%. |
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Europe Closes Higher
May 05, 12:48 PM EDT |
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| Shares of Sanofi-Aventis slipped 1%, despite strong quarterly results, with Q1 profit up 54% on 9.6% sales growth. |
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| European markets ended sharply higher, lifted by weaker-than-expected U.S. economic data and merger-and-acquisition news. Banking group Alliance & Leicester rose 7% and Dutch media company VNU gained 5% on bid speculations. The German DAX 30 surged 1.2%, the French CAC 40 climbed 1%, and London FTSE 100 advanced 0.9%. |
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