| Europe Market Update Archive: |
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Autos, Miners Pressure Europe
Oct 30, 12:49 PM EST |
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| Auto stocks dropped in Europe after a strong performance last month. Volkswagen shares dropped 1.7%, BMW slipped 1.2% and Peugeot declined 1.5%. |
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| European stock markets closed down on Monday, as investors turned to profit taking mainly in the mining and auto sectors. Negative mood on Wall Street in early trading further pushed stocks down. Germany''s DAX Xetra 30 index closed lower 0.07%, while the French CAC 40 slipped 0.63%. London FTSE 100 finished down 0.55%. |
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Weaker Autos Weigh Europe down
Oct 30, 6:34 AM EST |
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| European markets declined Monday as concerns over slowing growth in the US continued to be felt. |
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| European stocks retreated from recent gains on Monday following lower-than-expected gross domestic product data Friday from the largest economy in the world and as investors took to profit-taking, particularly in the auto sector. Companies such as Dutch bank ABN Amro and publisher Pearson also traded lower after updating investors on progress. By mid morning, the FTSE 100 in London lost 0.6%, Frankfurt Xetra Dax fell 0.7%, and the CAC 40 in Paris shed 0.9%. |
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Dow Down 72, Nasdaq 28
Oct 27, 4:02 PM EDT |
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| Economy grew at a rate of 1.6% in the last quarter. Cemex offered $12.8 billion for Australia based Rinker. Chevron profit up 40%. |
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| Economy grew at a an anual rate of 1.6% in the second quarter, lower than 2% estimated on higher trade gap and slowing housing sector. Chevron profit rose 40% on higher oil price. Net income jumped to $5.02 billion from $4.69 billion a year ago on a fall in revenue of 1%. Mexico based cement company, Cemex offered $12.8 billion to Australia based Rinker. |
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Pharmas Paint Europe Red
Oct 27, 1:29 PM EDT |
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| Shares of WPP Group fell 2% after reporting slower-than-forecast Q3 comparable sales growth. |
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| European stock markets finished in the red, pressured by weak pharmaceutical stocks for a second straight session. Disappointing sales figures, released by advertising company WPP and slower-than-expected economic growth in the U.S. also contributed to the weakness. The U.K.’s FTSE 100 closed down 0.39%. The French CAC 40 dropped 0.69%. The German DAX 30 closed down 0.34%. |
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Europe Flat As Pharma Stocks Plunge
Oct 27, 6:49 AM EDT |
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| European markets were mostly flat Friday as falling drugmakers countered gains for telecoms groups and tech stocks. |
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| Losses in pharmaceuticals and advertising company WPP offset gains in tech stocks on Friday. Tech stocks were boosted by a strong performance the US market, as after the US close, Microsoft reported strong third quarter numbers. AstraZeneca, a pharmaceutical company, retreated as Credit Suisse lowered its recommendation and brought the market lower. By mid morning, the FTSE 100 eased slightly, Frankfurt Xetra Dax was also marginally better, while the CAC 40 in Paris fell 0.1%. |
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Nasdaq Up 1%, Microsoft Earnings Up 11%
Oct 26, 5:54 PM EDT |
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| Nasdaq gained on strength on Comcast. Microsoft earnings rose 11%. Clear Channel rose 9.7% after the company put itself for sale. |
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| New homes sales rose for the second month in a row but median home sales price fell to $217,000. ExxonMobil profit rose 5.7% to $10.9 billion and Shell profit fell 34% on problems in Nigeria. Microsoft profit jumped 11% on strong sales in XBox. Microsoft earned in the quarter 35 cents vs. 29 cents compared to a year ago. Navteq rose 16% and Chicos gained 7%. |
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Telecoms Lift France, Drug Stocks Drag U.K.
Oct 26, 1:17 PM EDT |
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| Business Objects gained 6.6% after Q3 sales for the French business software company rose 19%. Safran shares ended 6.3% higher. |
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| European stock markets closed mixed on Thursday, reflecting disappointing news from major drug companies, losses in the metals sector, and positive earnings news from other companies like Royal Dutch Shell and telecoms provider France Telecom. London FTSE 100 finished down 0.48%, dragged by AstraZeneca and GlaxoSmithCline. The German DAX 30 gained 0.31%. The French CAC 40 rose 0.21%. |
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Earnings, Oil Boost Europe
Oct 26, 6:32 AM EDT |
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| European markets advance Thursday powered by strong earnings and higher oil and metals stocks as commodity prices surged. |
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| European shares rose to new five-year highs on Thursday morning, after the U.S. Federal Reserve allayed U.S. economic growth fears, keeping rates on hold and after some strong third-quarter financial results from Continental and U.K. companies including oil company Royal Dutch Shell and telecommunications provider France Telecom. In early trade, the FTSE 100 in London climbed 0.4%, Frankfurt Xetra Dax added 0.4%, and the CAC 40 in Paris gained 0.5%. |
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Oil Up 3%, Gas Up 9%
Oct 25, 4:37 PM EDT |
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| Fed left rates unchaged for the third time since June of this year. Oil jumps over 3% to close above $61. Natural gas rose 9%. |
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| Market averages rallied after the news that Fed has left the interest rates unchanged for the third time in last four months.Oil and gas rose on lower inventory report and cooler weather in Northern U.S. GM reported revenue rise of 4% and a smaller loss of $115 million. Anheuser Busch reported Q3 earnings of 82 cents vs. 65 cents a year ago. P F Changs reported earnings of 25 cents vs 31 cents a year ago on revenue gain of 14%. |
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Fed Leaves Rates Unchanged
Oct 25, 3:17 PM EDT |
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| For the third month in a row Fed has left target rates unchanged at 5.25%. Crude oil crossed $61 on lower inventory data. |
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| Fed kept target rates unchanged for the third month in a row. Target rate remained at 5.25% since late June. Fed noted that economic growth rate is likely to slow on cooling housing market. Oil rose above $61 on lower inventories. GM posted smaller loss on 4% rise in sales, stock drops. PF Changs reported lower profit on higher food cost, stock jumps. Corning dropped closed to 10%. KLA Tencor gained more than 9% on better revenue. |
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