We have updated our privacy policy and terms & conditions. Find out more here.
10
 

European stocks trend lower, eyes on Greece; Dax down 0.17%

By Investing.comStock MarketsNov 26, 2012 09:00AM GMT Add a Comment
 
AA
+
-
Investing.com - European stocks were lower on Monday, as investor confidence was hit after separatist parties won the majority of the public vote in regional elections held in Catalonia this weekend, while markets eyed fresh discussions on a financial ai deal for Greece.

European stocks trend lower, eyes on Greece; Dax down 0.17%
During European morning trade, the EURO STOXX 50 dropped 0.47%, France’s CAC 40 declined 0.50%, while Germany’s DAX 30 slipped 0.17%.

In Spain, the main separatist party, the Convergence and Union alliance (CiU), led by Catalonian President Artur Mas, lost seats in the elections as voters expressed their frustration at his party’s introduction of austerity measures. As a result, two-thirds of the 135-seat local parliament went to four different Catalan separatist parties.

Meanwhile, investors were cautious ahead of a meeting of euro zone finance ministers later in the day to discuss whether to release Greece’s next tranche of aid.

German Chancellor Angela Merkel said she believes a deal can be reached at Monday’s talks, while the French finance minister said over the weekend that an agreement is close.

Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale declined 0.63% and 0.59%, while Germany's Deutsche Bank and Commerzbank retreated 1.04% and 0.81%.

Peripheral lenders were also mostly lower, with Spanish banks BBVA and Banco Santander dropping 0.62% and 0.69% respectively, while Italy's Unicredit fell 0.34%. Intesa Sanpaolo overperformed on the other had, with shares easing up 0.03%.

On the upside, Straumann Holding, the world’s biggest maker of dental implants, surged 6.55% after Vice Chairman Thomas Straumann sold a 10% stake in the company.

In London, FTSE 100 fell 0.30%, as U.K. lenders tracked their European counterparts lower.

Lloyds Banking declined 0.86% and HSBC Holdigs slumped 0.85%, while the Royal Bank of Scotland tumbled 1.86% and Barclays plunged 3.73% after Qatar Holding said it plans to sell shares in the bank valued at about GBP771 million.

Oil stocks added to losses as oil and gas major Anglo American fell 0.31%, while rival BP slid 0.36%.

Meanwhile, mining stocks were mixed, as shares in Rio Tinto declined 0.37%, while BHP Billiton added 0.17%. Copper producers Xstrata and Kazakhmys rose 0.47% and 0.29% respectively.

Elsewhere, Aberdeen Asset Management lost 0.38%, even as Scotland’s largest money manager reported full-year revenue of GBP869.2 million, beating analysts’ estimates.

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.26% fall, S&P 500 futures signaled a 0.36% decline, while the Nasdaq 100 futures indicated a 0.27% loss.

Later in the day, Germany was to release data on German consumer climate.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg