Europe: fundamentals, halt tsarivshemu on the market optimism
Jun 14th, 2009 | By admin | Category: Reviews and ideasOn Wednesday, 3 June, the region's stock markets closed in negative zone against the backdrop of unfavorable macroeconomic statistics in the euro area, and beyond. Thus, the decline in U.S. employment in the private sector in May, according to the report ADP, was 532 thousand, while the expected decrease of 520 thousand, while factory orders in April, although increased, but less than economists anticipated value. In the euro final GDP in the first quarter decreased by 2.5% to /for, and the index of business activity in the services sector in May increased from 43.8 to 44.8 points, projected increase to 44.7. In Germany, the UK and the U.S. indexes of business activity in services is also not reached expected levels. The index of producer prices in the euro area continued to decline in April and this time fell by 1% compared with the previous decrease of 0,7%.
According to some analysts, investors soon glad speedy recovery, because the fundamentals have not yet demonstrated significant improvement. Credit Suisse Group lowered top American shares to average-level with above average.
On the basis of bidding the regional index Dow Jones Stoxx 600 fell 2.03% and closed at 209.90 points. The British FTSE 100 lost 2.09%. German DAX weakened to 1.74%, and the French CAC 40 fell by 2,02%.
The largest association of manufacturers of semiconductors WSTS does not exclude the possibility of reducing sales in the current year by 22%, which is 10 times more than the previous projection. Against this backdrop, shares of tech companies have suffered losses. So the biggest paper producer in Europe, STMicroelectronics chips retreated to 4.28% and the market capitalization of ASML Holding, which produces semiconductor equipment, fell by 3,24%.
Shares of French builder and operator of mobile communication Bouygues cheaper at 7.94% after reporting a decrease of net profit of 29%. Yield television and telecommunications units fell, and sectors in the construction of roads, are increasingly significant losses.
Papers in the second-largest steel producer Salzgitter Germany fell to 5.73%. UBS lowered rating of the company's shares to neutral to sell, comment that the current price fully take into account the potential for growth.
The values of major indices at the closing are shown in the table:
| Index | Country | Closing (items) | Change day (items) | Changing the day (%) | Value at beginning of year (the last closing in 2008) | Change from the beginning of the year |
|---|---|---|---|---|---|---|
| ATX | Austria | 2,138.52 | -43.11 | -1.98% | 1750.83 | 22.14% |
| BEL20 Index | Belgium | 2,066.54 | -18.36 | -0.88% | 1908.64 | 8.27% |
| FTSE 100 | United Kingdom | 4,383.42 | -93.60 | -2.09 % | 4434.17 | -1.14% |
| DAX Index | Germany | 5,054.53 | -89.53 | -1.74% | 4810.20 | 5.08% |
| IBEX 35 INDEX | Spain | 9,464.80 | -200.00 | -2.07% | 9195.80 | 2.93% |
| SP /MIB | Italy | 20,117.66 | -406.05 | -1.98% | 20064 | 0.27% |
| AEX | Netherlands | 264.37 | -4.62 | -1.72% | 245.94 | 7.49% |
| OMX Nordic 40 | Scandinavia | 700.55 | -28.38 | -3.89% | 625.8 | 11.94% |
| CAC 40 | France | 3,309.65 | -68.39 | -2.02% | 3217.97 | 2.85% |
| SMI | Switzerland | 5,384.71 | -47.51 | -0.87% | 5534.53 | -2.71% |
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