>

European stocks fall because of the head of the Fed statement, followed by commodity stocks

Oct 10th, 2009 | By admin | Category: Scenario and forecasts

Stock indices in Europe decreased on Friday after the decline in commodity stocks, and also because of my head of the Federal Reserve Ben Bernanke, has reported Bloomberg.

He said that the U.S. central bank is ready to raise interest rates once the outlook for the economy significantly improved.

Index Dow Jones Stoxx 600 with the opening of markets dropped by 0,5%. Nevertheless, since the beginning of this week increase is 3,5%. The indicator has fallen to 1,5% from a peak this year, recorded on September 17, in particular, because of poor statistics on the U.S. economy.

The increase in interest rates in an environment of uncertainty is not welcome, and the market does not want to hear about it - believes Gerold Kuen of LLB Asset Management AG. - We saw last week that the economic data is still not positive. bumpy road rehabilitation .

value of shares of mining company Vedanta Resources and Antofagasta fell by 1,2% and 1,4% as copper fell in London.

Equity

gold mining company in Russia Petropavlovsk Plc fell 2.3% against decrease in value of precious metal for the first time this week.

Share Price BAE Systems fell 1.8%, as a manufacturer of military products said he did not expect growth in orders for armored vehicles and weapons.

Paper

Germanic KS, the largest producer of potash in Europe, fell 1.2%. Belarusian Potash Company stated that the global industry sales this year could drop to less than half of 2008.

At the same time the value of securities Valeo SA, the second-largest manufacturer of auto parts in France, increased by 3,1%, after analysts evaluate Cheuvreux improved for them to above market with below market.

also went up by 4,2% shares of Tenaris, the world's largest producer of seamless steel pipes. Experts UBS began an analysis of securities of the company and granted it the rating buy.

index of the largest enterprises in Europe Dow Jones Euro Stoxx 50 to 19:03 has decreased by 9.87 points (0.34%) - up to 2,877.74 points.

British FTSE 100 by this time dropped to 4.26 points (0.08%), amounting to 5,150.38 points.

French CAC 40 index lost 12.64 points (0.33%) - up to 3,794.17 points.

Deutsch DAX with the opening of the market decreased by 11.9 points (0.21%) and amounted to 5,704.64 points.

Eleven of the eighteen major stock indexes in Western Europe falling during trading on Oct. 9.

Forex - results of the day

Leave Comment

You must be logged in to post a comment.