Europe: a victory for the bears remained
Feb 25th, 2010 | By admin | Category: Reviews and ideasÂÂ
Wednesday, January 27, the main European stock market indexes finished trading lower against the backdrop of disappointing financial results of the second-largest lender BBVA of Spain and falling sales of new homes in the United States. Also, today at 22:15 IST on the U.S. Federal Reserve publishes a decision on interest rates, and make comments about future monetary policy, which also inhibits bullish sentiment in the market.
According to official information, the sale of new homes in December in the U.S. market declined from 355 thousand to 342 thousand, while analysts predicted an increase in rate up to 370 thousand
As a result of trades regional index Dow Jones Stoxx 600 has lowered 0,84%. The British FTSE 100 weakened to 1.13%, the Swiss SMI fell 0.17%, while the French CAC 40 dropped to 1.24%. Losers was Spanish IBEX 35 INDEX, a decrease of 2,69%. Not supported the general negative dynamics only the Scandinavian OMX Nordic 40 index, which managed to grow by 0.25%.
Stocks Banco Bilbao Vizcaya Argentaria were "easier" to 6,36%. According to the report of the second-largest lender in Spain, the net profit for the fourth quarter fell 94% to 519 million euros a year earlier to 31 million euros ($ 43.6 million) due to increased provisions for bad debts. Analysts expected the company during the reporting period will earn 1.05 billion euros. Against this background, the paper"s largest Spanish bank Banco Santander weaker at 5,06%.
Market capitalization of the German cement maker HeidelbergCement decreased by 6.01% after the largest in Latin America, the representative of the industry Cemex reported 17% drop in sales in th fourth quarter. Papers of the world"s largest cementmaker Lafarge lost 4.49% of the cost.
Quotes of the British management company Man Group fell by 6,5%. Net asset value of its main AHL Diversified Futures fund fell by 3.6% to $ 34.87, having lost all the gains since the beginning of the year.
Shares of British oilman Tullow Oil weakened to 4.61%. The company raised 925 million pounds ($ 1.5 billion) by selling 80.4 million newly issued shares at 1,150 pence each. The funds will be spent on development projects in Uganda and Ghana.
Papers of the German chemical company Wacker Chemie "thinner" at 5.08% after it reported back to an operating loss as a result of the past year.
Values of the basic indexes on closing are resulted in the table:
| Index | Country | Closing (items) | Delta day (items) | Change day (%) | value at beginning of year (the last closing in 2009) | Change YTD |
|---|---|---|---|---|---|---|
| ATX | Austria | 2,519.03 | -26.64 | -1.05% | 2495.56 | 0.94% |
| BEL20 Index | Belgium | 2,493.67 | -2.78 | -0.11% | 2511.62 | -0.71% |
| FTSE 100 | United Kingdom | 5,217.47 | -59.38 | -- 1.13% | 5412.88 | -3.61% |
| DAX Index | Germany | 5,643.20 | -25.73 | -0.45% | 5957.43 | -5.27% |
| IBEX 35 INDEX | Spain | 11,042.20 | -305.10 | -2.69% | 11940 | -7.52% |
| FTSE MIB | Italy | 21,997.59 | -410.12 | -1.83% | 23248.39 | -5.38% |
| AEX | Netherlands | 327.26 | -2.39 | -0.73% | 335.33 | -2.41% |
| OMX Nordic 40 | Scandinavia | 835.74 | 2.08 | 0.25% | 829.44 | 0.76% |
| CAC 40 | France | 3,759.80 | -- 47.24 | -1.24% | 3936.33 | -4.48% |
| SMI | Switzerland | 6,473.03 | -11.20 | -0.17% | 6545.91 | -1.11% |
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