Thursday, December 28th, 2006
Mining stocks in Europe rose after metals gained for a second day and tin climbed to a 17 year high. Analysts expect commodity stocks to keep performing positively in the next year as demand remains high. BP and Shell fell due to the low oil price in the US, while British Airways rose.
BP Plc and Royal Dutch Shell Plc fell after oil traded near a one-month low in New York. British Airways Plc paced a rally by airlines on lower energy costs.
The Dow Jones Stoxx 600 Index added less than 0.1 percent to 366.42 at 1:47 p.m. in London. The Stoxx 50 and the Euro Stoxx 50, a measure for the 12 nations sharing the euro, were both little changed.
The Stoxx 600 is trading near the highest since December 2000 as investors bet a record wave of takeovers and profit growth will continue, outweighing concern that expansion in the U.S. will slow.
“As long as there is still a good background of earnings growth, markets can make progress,” said Gary Dugan, head of research and investment strategy at Barclays Wealth Management in London, which oversees $100 billion. “Enjoy the party for the first half of 2007 at least.”
Source : BloomBerg.com
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Thursday, December 21st, 2006
European stocks opened lower today just ahead of important financial data from the US that could provide an insight into possible rate cuts. Vodafone was one of the major companies that lost 1.5% of it’s stock value amid signs that it is considering a large Indian acquisition.
European stocks edged lower early today ahead of key US economic data that could provide clues to rate cuts, with the focus on the company front on Vodafone amid reports it was eyeing an Indian acquisition.
At 0807 GMT, the FTSEurofirst index of top European shares was down 0.11 per cent at 1,479.65 points.
Among national indexes, Frankfurt’s DAX was down 0.3 per cent, the French CAC 40 was down 0.14 per cent and the FTSE 100 down 0.12 percent.
Source : Ireland.com
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Monday, December 4th, 2006
European stocks are expected to rebound from a dramatic decline today. A big drop in the Dow Jones Stoxx 600 index, and a falling Dollar resulted in losses on European stock exchanges. Many European companies have taken action to lessen the effect of a falling Dollar. Analysts already acknowledge that European stocks are less vulnerable to the value of the Dollar.
European stocks are poised to rebound from their biggest weekly decline since July as companies highlight their efforts to limit the damage to profits from a falling dollar.
“The impact on earnings from the dollar won’t be huge,” said Felix Lanters, head of portfolio management at Theodoor Gilissen Bankiers in Amsterdam. “We are positive on equities in general, and expect reasonable earnings growth into next year.”
Last week, the Dow Jones Stoxx 600 index had its biggest drop since mid-July. The euro rose to $1.33 amid speculation that the Federal Reserve would cut interest rates in response to slowing U.S. growth.
Source : International Herald Tribune
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