A.B. | ShareCast | 22 Jan, 2013 14:16 - Updated: 11:04 | | |
- German economic confidence rises to May 2010 highs
- German financials hit by report on possible regulatory moves
- Spanish bond yields drop
FTSE Mibtel 30: 0.35%
Ibex 35: -0.38%
Stoxx 600: -0.17%
The main European equity benchmarks are now trading mixed on what has turned out to be a rather volatile day. Perhaps worth taking note of, a handful of strategists seem to have cooled slightly about the market.
Also worth pointing out, the Bundesbank this morning saw the need to deny rumours regarding the impending exit of its President, Jens Weidmann.
In turn, those reports came on the back of a rather lacklustre reaction to the Bank of Japans latest decision, overnight. Some traders nevertheless described the selling which ensued as simply some profit taking, following the last few months' advances in equity markets.
Also weighing on stocks early on, particularly in Germany, was a report on BorsenZeitung that the countrys financial market regulator, BaFin, has asked lenders to run simulations on what the cost of a hypothetical break-up of their different business segments would be.
Compensating for the above was the release of a much better than expected reading on German economic confidence, courtesy of the ZEW Institute.
Siemens fiscal first quarter results were leaked to the press, the firm obtained profits to the tune of 1.3bn ($1.7bn), which was better than expected.
French power and transport engineering company Alstom said orders rose 3% in the third quarter.
EADS, the European aerospace and defence group achieved a "very significant improvement" in revenue and operating profit in 2012, Chief Executive Tom Enders said.
From a sector stand-point the worst performance was to be seen in the following industrial groups: Construction (-0.76%), Media (-0.70%) and Telecommunications (-0.59%).
Very strong reading on German economic sentiment
The ZEW Institutes economic sentiment index for the month of January has come in at 31.5 points, up by 24.6, to its highest level since May 2010.
Single currency flat
The euro/dollar is now trading 0.02% lower at 1.3310.
Front month Brent crude futures are rising by 0.357 dollars, to the 111.60 dollar per barrel mark on the NYMEX.
Actavis Plc is among the bidders for Omega Pharma NV as the US-based drugmaker continues to look for more acquisitions.
Travel stocks were putting in a decent performance on Monday, following recent volatile trading amid the growing Ebola crisis.
Apple Inc. said its quarterly profit rose 13%, as sluggish iPad sales were offset by strong demand for its new larger-screen iPhones.
Andrew Tyrie, the chairman of the Treasury Committee, has written to the Mark Carney, the Bank of England (BoE) governor in response to a Real Time Gross Settlement (RTGS) payment system issue the bank suffered on Monday.
US stocks moved higher on Monday after a relatively slow start, as investors were set to focus on companies’ earnings, including Apple's, due after the close of trading.
On Monday, Facebook sued four separate law firms over their involvement in a case challenging Mark Zuckerberg's ownership of the social media giant.