Leading European stock indexes finished trading on Tuesday in different directions amid fears over worsening crisis in the debt market in the region and the weak statistical data on consumer confidence in the U.S. economy. This is evidenced by data exchanges. By the close of trading the British FTSE 100 index dipped 0.09% - up to 5 marks 578.44 points. The German DAX fell 0.05% - 6 278.89. The French CAC 40 index on the trading results has lost 0,10% and dropped to 3 762.35.
"We see growing concerns related to the peripheral countries of Europe, which deals with the banking sector - said to Bloomberg managing funds Storebrand ASA Ispen Fernes (Espen Furnes). - Investors have become a little more sensitive, especially after good growth in the market, which had previously been observed in September. "
Pressure on stock indicators Old World had concerns about the economic situation in Ireland. The country's authorities have this week to report the money spent to save the Anglo Irish Bank. According to statements by the authorities, this amounted to 22 billion euros. However, a credit analyst at Standard & Poor's Trevor Cullinan (Trevor Cullinan) believes that it can surpass even the previously predicted 35 billion euros agency that represents 20% of the GDP of Ireland.
On the background of such statements the cost of credit default swaps on the Irish two-year government bonds, which is essentially insurance against default of the country, increased to a maximum value of at least 2003.
Nevertheless, before sale in Europe took place in a weak positive territory on the background information that the European Central Bank (ECB) conducted an operation to buy government bonds from the market of Ireland. This was reported by sources close to the regulator. Earlier Tuesday, the Brussels online newspaper EUobserver reported that the ECB intends to activate a mechanism for emergency financial assistance from the EU to support Ireland.
In addition to the regional news negative impact on the trading floors of Europe has also provided statistics from the ocean. The index of consumer confidence in the U.S. economy in September fell to the lowest since February of this year marks 48.5% from the revised figure for August at 53.2%, while analysts polled by the information-analytical Internet portal dailyFX.com, predicted a decline index over the period only up to 52,1%.
Showing posts with label Europe. Show all posts
Showing posts with label Europe. Show all posts
9/28/10
9/27/10
Economists expect inflation in the euro area
Inflation in the eurozone in September, likely rose against the backdrop of rising prices for food and fuel after the unexpected slowdown in August, according to Dow Jones Newswires.
"We are all more we observe the influence of the recent price shocks in the sector on the price of raw food in the coming months" - note the economists at BNP Paribas in a weekly research note to clients.
Index of confidence in business circles and the final consumer confidence index for September will also be published in the week. It is expected that the index of confidence in the business community will decline. "Given the weak purchasing managers' index of the eurozone, we expect that the index of confidence in the business community in September, slightly below" - economists say HSBC.
Data on unemployment is also expected this week. Germany will publish the September data, and the euro zone published by the August figure. It is expected that these data show stable values compared with the previous month. Data on retail sales in Germany will also be published in the week. According to the forecast, they should show growth in August compared with the previous month after the July decline, economists say.
"We are all more we observe the influence of the recent price shocks in the sector on the price of raw food in the coming months" - note the economists at BNP Paribas in a weekly research note to clients.
Index of confidence in business circles and the final consumer confidence index for September will also be published in the week. It is expected that the index of confidence in the business community will decline. "Given the weak purchasing managers' index of the eurozone, we expect that the index of confidence in the business community in September, slightly below" - economists say HSBC.
Data on unemployment is also expected this week. Germany will publish the September data, and the euro zone published by the August figure. It is expected that these data show stable values compared with the previous month. Data on retail sales in Germany will also be published in the week. According to the forecast, they should show growth in August compared with the previous month after the July decline, economists say.
9/25/10
Company Shades Of Cyprus asks the court to re-review the claim to the Savings Bank of 3 billion rubles
Cyprus company Shades Of Cyprus Ltd. - Minority shareholders of Voskresensk Mineral Fertilizers (VMF) - re-apply to the Supreme Arbitration Court (IAC) of the Russian Federation on the supervisory review of cases concerning the refusal to recover from the Savings Bank of 3 billion rubles. The announcement was made Friday, the Russian news agency the legal and judicial information (RAPS), the representative of the court, RIA Novosti reported.
In August, you give up Shades of Cyprus in the transfer of the presidium of the trial of this case. The Moscow Arbitration Court on Feb. 15, 2010 refused to collect the claim Shades Of Cyprus Ltd. 3.089 billion rubles in the bank guarantee OAO Sberbank offers URALCHEM "to repurchase shares of VMC. That decision upheld the courts of appeal and cassation.
The representative of the Shades of Cyprus, said the Moscow Arbitration that Uralchem, which owns 71.72% stake in VMC, in July 2008, an offer to minority shareholders to purchase common shares at an estimated cost VMC 20.29 rubles apiece. However, the Federal Financial Markets Service ordered to eliminate the violations in this offer, due to which Uralchem 5 August 2008 put another offer, has been accepted Shades of Cyprus (owns 24.98% stake in VMC) and sent to the registrar an order to translate it owns shares to the account URALCHEM. However, to translate the shares at the expense of URALCHEM failed and the company sent them to a notary public. URALCHEM, "held that the plaintiff in a timely manner did not send a statement of acceptance, and denied the Cypriot company in the requirement to meet the offer. Then Shades of Cyprus addressed to the Savings Bank acts as a guarantor under the offer, which also denied the plaintiff. According to representatives of URALCHEM and Savings Bank, a bank guarantee was provided only in July offer.
The representative of the Shades of Cyprus said that the offer is valid only on 5 August, as the July offer was issued in violation of the law. Time of execution of the offer expired on October 22, 2008. Shades of Cyprus was able to meet deadlines on the acceptance and transfer of shares, but the payment of URALCHEM not wait, said the plaintiff. As a witness the court questioned the notary, who confirmed that aired a statement proposing the sale of "HC Uralchem belonging to the minority shareholders of shares in the amount of VMU 152,252,000 shares at a price of 20.29 rubles per each. A notary has brought a corresponding application and cover letter in Uralchem, but they were not accepted by the company.
In August, you give up Shades of Cyprus in the transfer of the presidium of the trial of this case. The Moscow Arbitration Court on Feb. 15, 2010 refused to collect the claim Shades Of Cyprus Ltd. 3.089 billion rubles in the bank guarantee OAO Sberbank offers URALCHEM "to repurchase shares of VMC. That decision upheld the courts of appeal and cassation.
The representative of the Shades of Cyprus, said the Moscow Arbitration that Uralchem, which owns 71.72% stake in VMC, in July 2008, an offer to minority shareholders to purchase common shares at an estimated cost VMC 20.29 rubles apiece. However, the Federal Financial Markets Service ordered to eliminate the violations in this offer, due to which Uralchem 5 August 2008 put another offer, has been accepted Shades of Cyprus (owns 24.98% stake in VMC) and sent to the registrar an order to translate it owns shares to the account URALCHEM. However, to translate the shares at the expense of URALCHEM failed and the company sent them to a notary public. URALCHEM, "held that the plaintiff in a timely manner did not send a statement of acceptance, and denied the Cypriot company in the requirement to meet the offer. Then Shades of Cyprus addressed to the Savings Bank acts as a guarantor under the offer, which also denied the plaintiff. According to representatives of URALCHEM and Savings Bank, a bank guarantee was provided only in July offer.
The representative of the Shades of Cyprus said that the offer is valid only on 5 August, as the July offer was issued in violation of the law. Time of execution of the offer expired on October 22, 2008. Shades of Cyprus was able to meet deadlines on the acceptance and transfer of shares, but the payment of URALCHEM not wait, said the plaintiff. As a witness the court questioned the notary, who confirmed that aired a statement proposing the sale of "HC Uralchem belonging to the minority shareholders of shares in the amount of VMU 152,252,000 shares at a price of 20.29 rubles per each. A notary has brought a corresponding application and cover letter in Uralchem, but they were not accepted by the company.
Western Union and DHL expand cooperation in Europe
Company Western Union, one of world leaders in sphere of global payment services, and DHL Express, the world leader in the field of express delivery, declared intention to expand cooperation and to offer enterprise customers DHL of service of international money transfers Western Union between juridical persons. Service will be accessible in 5 thousand own and partner departments DHL in Europe. Also money transfers Western Union in service centers DHL Express in Europe can perform and physical persons. About it the parties have reported in the joint press release.
Today money transfer service Western Union is accessible in departments DHL in the countries of Latin America and Caribbean basin. «Cooperation in Europe will allow Western Union to increase the network and to offer services of a new category of clients while DHL Express will expand the list of the services offered in departments of the company», — it is marked in the message.
Services of international money transfers between juridical persons are given by company Custom House acquired Western Union in 2009.
According to research firm IDC, the volume of the market of transfers between juridical persons all over the world this year will grow on 55 % and will constitute 3,4 трлн US dollars.
Today money transfer service Western Union is accessible in departments DHL in the countries of Latin America and Caribbean basin. «Cooperation in Europe will allow Western Union to increase the network and to offer services of a new category of clients while DHL Express will expand the list of the services offered in departments of the company», — it is marked in the message.
Services of international money transfers between juridical persons are given by company Custom House acquired Western Union in 2009.
According to research firm IDC, the volume of the market of transfers between juridical persons all over the world this year will grow on 55 % and will constitute 3,4 трлн US dollars.
The European stock exchanges on Friday were closed by growth
Leading European stock indexes following the results of the auctions on Friday have grown against the macroeconomic data from Germany which have appeared much better forecasts of analysts, the data of stock exchanges testifies.
To closing of the auctions the British index FTSE 100 has grown on 0,93 % — to a mark 5 598,48 points. German DAX has increased by 1,84 % — to 6 298,30. French CAC 40 following the results of the auctions has added 1,94 %, having risen to 3 782,48.
On Friday it became known about unexpected growth of an index of a business climate in the largest economy of Europe — Germany — in August to 106,8 points against 106,7 month before. Analysts predicted decrease in an index to 106,4 points.
Also support to the markets was rendered by internal corporate news. In particular, participants of the auctions have positively apprehended increase by analysts Deutsche Bank of the forecast on a stock value of the manufacturer of automobile tire covers Continental and the telecommunication company of Alcatel-Lucent SA.
The important factor for the European platforms was growth of stock markets in the USA at opening. The American stock exchanges as of 19:28 have increased Moscow time by 1,7—1,9 %, having reacted to the message that orders for consumer durables in the USA for August, except for transport sector, have grown on 2 % in monthly calculation. Analysts predicted growth of the given indicator on 1 %.
Not too optimistical there was data on the American real estate market. Sales of new houses in August haven't changed in comparison with the reviewed July indicator, having constituted 288 thousand Analytics assumed that the indicator of sales of new houses will grow to 295 thousand «In the markets still there are fears concerning the second wave of recession in the USA, however we believe that it won't occur», — results agency Bloomberg opinion of economist Raiffeisen Capital Management of Herbert Perusa.
To closing of the auctions the British index FTSE 100 has grown on 0,93 % — to a mark 5 598,48 points. German DAX has increased by 1,84 % — to 6 298,30. French CAC 40 following the results of the auctions has added 1,94 %, having risen to 3 782,48.
On Friday it became known about unexpected growth of an index of a business climate in the largest economy of Europe — Germany — in August to 106,8 points against 106,7 month before. Analysts predicted decrease in an index to 106,4 points.
Also support to the markets was rendered by internal corporate news. In particular, participants of the auctions have positively apprehended increase by analysts Deutsche Bank of the forecast on a stock value of the manufacturer of automobile tire covers Continental and the telecommunication company of Alcatel-Lucent SA.
The important factor for the European platforms was growth of stock markets in the USA at opening. The American stock exchanges as of 19:28 have increased Moscow time by 1,7—1,9 %, having reacted to the message that orders for consumer durables in the USA for August, except for transport sector, have grown on 2 % in monthly calculation. Analysts predicted growth of the given indicator on 1 %.
Not too optimistical there was data on the American real estate market. Sales of new houses in August haven't changed in comparison with the reviewed July indicator, having constituted 288 thousand Analytics assumed that the indicator of sales of new houses will grow to 295 thousand «In the markets still there are fears concerning the second wave of recession in the USA, however we believe that it won't occur», — results agency Bloomberg opinion of economist Raiffeisen Capital Management of Herbert Perusa.
9/21/10
Exchanges in Europe were closed recession against a background of speculation about the U.S. Fed meeting
Trading on major European stock markets ended on Tuesday recession against the backdrop of speculation around the upcoming application of the Federal Reserve System (FRS), the United States in the field of monetary policy, according to the Agency France Presse.
By the closing of the auctions the British index FTSE 100 fell by 0.47% - up to a mark 5 576.19 points. Deutsch DAX fell by 0.30% - 6 275.98. The French CAC 40 up trading down on 0,10% - to 3 784.40.
Speculation around the U.S. Federal Reserve meeting to be held later on Tuesday, were able to overpower the overall positive background in the European region, including reports of successful placement of government bond Ireland and Spain, and short-term treasury bills Greece.
By the closing of the auctions the British index FTSE 100 fell by 0.47% - up to a mark 5 576.19 points. Deutsch DAX fell by 0.30% - 6 275.98. The French CAC 40 up trading down on 0,10% - to 3 784.40.
Speculation around the U.S. Federal Reserve meeting to be held later on Tuesday, were able to overpower the overall positive background in the European region, including reports of successful placement of government bond Ireland and Spain, and short-term treasury bills Greece.
9/16/10
Stock Europe gone on closing in minus on data from UK
Leading European stock indexes declined on the basis of trading on Thursday against the backdrop of weak statistical data on retail sales in the UK, as well as negative trends on U.S. exchanges, according to data exchanges.
The British FTSE 100 has fallen on 0,28% to 5 540.14 points, the German DAX - on 0,20% to 6 249.65 points, the French CAC 40 - on 0,52% to 3 736.30.
"The second wave of crisis in the foreseeable future will not happen, but economic growth will be weak, - told the news agency Bloomberg strategist at Deutsche Postbank AG shares of Heinz-Gerd Zonenshain (Heinz-Gerd Sonnenschein). - Financial results for the III and IV quarters will not be as strong as in the previous two quarters, and the shares will be difficult to find support for growth. Market participants have taken a wait and see position. "
According to experts, the European stock indicators in early trading were under pressure from negative statistics from the UK. Retail sales in the country in August this year increased by 0,4% compared with August of 2009, but decreased to the previous month by 0,5%, which was much worse than expected. Analysts had expected growth in August on 0,3% compared with July and by 2% - in annualized.
In this case, a more significant compared to experts' forecasts growth of foreign trade balance surplus in the euro zone in July, as well as the successful placement of the Spanish government bonds with various maturities totaling $ 4 billion could not support the investor sentiment.
Later on Thursday a negative impact on the dynamics of the stock market indicator of the Old World had an opening of U.S. exchanges in the red zone against the backdrop of fears of low rates of recovery of the largest in the world economy. Market not reacted on moderately positive statistics by number primary nominations dole and prices producers United States.
The British FTSE 100 has fallen on 0,28% to 5 540.14 points, the German DAX - on 0,20% to 6 249.65 points, the French CAC 40 - on 0,52% to 3 736.30.
"The second wave of crisis in the foreseeable future will not happen, but economic growth will be weak, - told the news agency Bloomberg strategist at Deutsche Postbank AG shares of Heinz-Gerd Zonenshain (Heinz-Gerd Sonnenschein). - Financial results for the III and IV quarters will not be as strong as in the previous two quarters, and the shares will be difficult to find support for growth. Market participants have taken a wait and see position. "
According to experts, the European stock indicators in early trading were under pressure from negative statistics from the UK. Retail sales in the country in August this year increased by 0,4% compared with August of 2009, but decreased to the previous month by 0,5%, which was much worse than expected. Analysts had expected growth in August on 0,3% compared with July and by 2% - in annualized.
In this case, a more significant compared to experts' forecasts growth of foreign trade balance surplus in the euro zone in July, as well as the successful placement of the Spanish government bonds with various maturities totaling $ 4 billion could not support the investor sentiment.
Later on Thursday a negative impact on the dynamics of the stock market indicator of the Old World had an opening of U.S. exchanges in the red zone against the backdrop of fears of low rates of recovery of the largest in the world economy. Market not reacted on moderately positive statistics by number primary nominations dole and prices producers United States.
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