Date: Wednesday 15 Feb 2012
LONDON (ShareCast) - -China commits to Eurozone support
-Eurozone GDP better than expected
Euro Stoxx 50: +0.28%
Ibex 35: -0.35%
Most European stock markets closed the day up after an senior Chinese official said his country was prepared to help the Eurozone countries through their current crisis.
The Governor of the People’s Bank of China, Zhou Xiaochuan said: “We would participate in resolving the euro debt crisis”.
The Chinese President, Wen Jiabao, has also made similar comments, giving heart to European officials attempting to ring fence the ongoing calamity of Greek debt.
Such is the frustration with Athens that rumours emerged this morning of the Eurozone dividing the latest bailout into instalments until the debt-crippled nation’s general election scheduled for April.
Today it was confirmed that Antonis Samaras, the leader of the main Greek opposition party, has confirmed in writing that he will honour the terms of the new austerity package if he comes to power following the election.
In other news, the economic output of the Eurozone, or GDP, contracted 0.3% between September and December 2011 according to Eurostat. This was actually better than the consensus forecast of a 0.4% contraction, giving a further boost to equities.
BNP Paribas gained 4% today after revealing fourth-quarter net income declined to €765m from €1.55bn a year earlier, ahead of forecasts.
Shares of Dutch lender ING rose 2.4% after the Federal Reserve approved the sale of its US online bank.
The world’s biggest yoghurt maker,Danone, reported a big profits rise for 2011, its stock gained 2% through the day.
The strongest sector on the Stoxx Europe 600 index was banks, rising 1.78%. The weakest performer was basic resources, dropping 0.35%.
Germany´s gross domestic product contracted at a 0.2% quarter-on-quarter rate in the last three months of 2011 (Consensus: -0.3%).
French gross domestic product surprised on the up-side in the final quarter of last year, with an expansion of 0.2% quarter-on-quarter.
Dutch gross domestic product fell at a 0.7% quarter-on-quarter rate in quarter four of 2011 (Consensus: -0.3%).
Italian gross domestic product growth fell 0.7% quarter-on-quarter in quarter four (Consensus: -0.6%).
The euro had fallen 0.34% against the dollar by 5.46pm in Frankfurt, to reach $1.3089.
Front month Brent crude futures had risen 1.32% by 4.41pm in London.
or share it with one of these popular networks:
|Share Price||€ 50.84|
|Change Today||€ 0.13|
|% Change||0.26 %|
|52 Week High||€ 60.39|
|52 Week Low||€ 48.70|
|Market Cap||€ 32,082m|
|Time||Volume / Share Price|
|16:52||363 @ € 50.84|
|16:52||270 @ € 50.84|
|16:52||357 @ € 50.84|
|16:52||118 @ € 50.84|
|16:52||71 @ € 50.84|
You are here: research