With a 1.41% decrease Pan-European index Dow Jones Stoxx 600 on Monday, getting off to a level of 239.17 points. Representatives of all sectors under pressure proved to be under the influence of continuing concerns about so-called “Dubai crisis associated with the inability of the investment fund Dubai World to pay its debts. This is the second day of losses for European shares on the last four sessions, which limit growth for the month to 1,1 percent. The indicator fell by 0,4 per cent in the past week, despite some strong movements in the period in which the news of the shoot near the problems of the Dubai fund. According to analysts quoted by MarketWatch, it is unlikely that bad news from Dubai to continue to affect investors in the long term, but several factors are expected to contribute to extending the period of consolidation. Consensus estimates for the capital markets by the end of the year is cautious about trading in low volumes and measured risks and generally drive the markets to maintain upward momentum. Energy shares are ranked among the “bears” on Monday, with falls of between 1 and 2 per cent registered BP, Repsol, Total and gas producer BG Group.
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Today’s session brought increases in most stock indexes of the Old Continent, having good data on the labor market and sales of new homes rose in the U.S. economic optimism of investors. Pan-European index Dow Jones Stoxx 600, which monitors the securities markets in 18 European countries, added 0.5 percent to end the session at a level of 248.09 points. Stock measure has increased by 57 percent since the beginning of March. The revised data today showed that Britain remains in recession. Gross domestic product declined by 0.3 percent in the third quarter, however, was less than originally announced, a decline of 0.4 percent. The British FTSE 100 index ended the session with an increase of 0.8 percent to 5364.8 points. This helped most extractive and energy companies due to appreciation of the metals and oil, as well as those in the health sector. National benchmarks rose in 13 of all 18 stock exchanges, which are represented in the Dow Jones Stoxx 600. The main index of the Frankfurt DAX added 0.6 percent to 5803 points, despite disappointing news that consumer confidence index in Germany GFK institute fell unexpectedly for the third month in November. Bundesbank predicted today that Germany banks may write off the assets for another 90 billion euros because of problem loans and investments in securities. This will reduce their profits even after the economy starts to recover.
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The European markets rose on Monday as the Pan-European index Dow Jones Stoxx 600 rose by 1.53 per cent to a level of 249.34 points. This created a new highest closing level this year, it was in previous 247.28 points. At regional level, the UK’s FTSE 100 jumped by 1,7 percent to 5278 points, the French CAC 40 rose by 1.69 percent to 3892 points while the German DAX rose by 1,9 percent to 5853 points. American also began session of positive territory in the middle of reporting season on both sides of the ocean. Appreciation among the items on the Old Continent is ordered that the food industry, shares of Nestle jumped over 4 percent after UBS increased its recommendation on the shares from “neutral” to “buy”. That change was announced and the position of Danone, whose shares rose by 1.44 percent. The group will announce its results on Friday, as expectations are that they are “surprisingly positive”. With more than 3% and increased shares of Uniliver, again changed investment rating. The company’s financial results are expected on 5th November, and as they are seen with optimism.
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The Indexes of European stock markets closed with losses for a third consecutive session, after U.S. data showed that employers are abbreviated jobs in September compared with the previous month. Unemployment in the largest economy in the world has risen to 9.8 percent of the workforce in September, its growth may hamper the economic recovery of the country, police Bloomberg. Pan-European index Dow Jones Stoxx 600, which monitors the securities markets in 18 Western European countries decreased by 1.9 percent to 234.1 points. This is its lowest closing level for the past four weeks. In the preceding week Dow Jones Stoxx 600 lost 2 percent of its value, and recorded her second consecutive weekly decline. However, during the third quarter stock measure achieved its largest quarterly growth since 1999
National benchmarks fell in all 18 western European stock markets except Iceland. The most powerful recorded major declines in financial companies and extractive industries of the Old Continent. At today reported a sharp drop the French CAC 40 index, which fell by 1.9 percent to 3649.9 points, while in Germany DAX slid 1.6 percent to 5467.9 points. In comparison with its level of last Friday the two indexes have lost 2.4 percent, respectively, and 2%. During today’s trading session it became clear that the annual production deflation in the euro area has slowed the pace of its growth to 7.5 percent in August. For comparison, the level of producer prices fell 8.4 percent in July. In Britain’s FTSE 100 lost 1.2 percent to 4988.7 points and increase his weekly loss to 1.8 percent despite news that British housing prices have recovered to pre-year, after having risen for the fifth month in September.
Today, World Bank President Robert Zoellick said the global economy will slowly recover from its worst recession since the Second World War until now. The Washington-based lender may require a capital increase to meet the needs of developing countries by financing. Sweden, meanwhile called for increased taxes on greenhouse gases, and finance ministers of the G-7 expressed once again its concern about the depreciation of the dollar.