Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Market Update

By Trade The NewsStock MarketsJan 25, 2012 07:41AM ET
www.investing.com/analysis/european-market-update-112124
European Market Update
By Trade The News   |  Jan 25, 2012 07:41AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
UK Q4 GDP contracts; German IFO survey mixed; All eyes now on FOMC statement and forecasts

Economic Data

(EU) ECB: €3.6B borrowed in overnight loan facility v €3.4B prior; €485.8B parked in deposit facility vs. €490.5B prior

(FI) Finland Dec Preliminary Retail Sales Volume Y/Y: 1.8% v 2.5%e

(TH) Thailand Central Bank cut the Benchmark Interest Rate by 25bps to 3.00%, as expected

(HU) Hungary Nov Retail Trade Y/Y: +1.1% v -0.1%e

(ES) Spain Dec Producer Prices M/M: -0.1% v -0.1%e; Y/Y: 5.2% v 5.2%e

(NL) Netherlands Jan Producer Confidence: -1.4 v -2.0e

(DE) Germany Jan IFO Business Climate: 108.3 v 107.6e; Current Assessment: 116.3 v 116.8e; Expectations Survey: 100.9 v 99.0e

(IT) Italy Nov Retail Sales M/M:-0.3% v -0.2%e; Y/Y: -1.8% v -1.5%e

(UK) Q4 Advanced GDP Q/Q:-0.2% v -0.1%e; Y/Y: 0.8% v 0.8%e v 0.5% prior

(UK) Dec BBA Loans for House Purchase: 36.2K v 35.0Ke

(UK) Nov Index of Services M/M: 0.6% v 0.4%e; 3M/3M: +0.1% v -0.1%e

(BR) Brazil Jan FGV Consumer Confidence: 116.0 v 119.6 prior

Fixed Income:

(RU) Russia sold RUB19.8B vs. RUB20.0B in 2017 OFZ Bond; avg yield 8.04%

(EU) ECB allotted$7.9B v $5.9B prior in 7-Day USD Liquidity Tender at fixed 0.60%

(EU) ECB allotted €19.6B in 3-Month Tender vs. €35.0Be

(SE) Sweden sold SEK2.5B vs. SEK2.5B indicated in 3.5% 2022 Bonds; Yield 1.826%

(DE) Germany sold €2.46B in 3.25% July 2042 Bund; avg yield2.62 % v 2.82% prior (record low); Bid-to-cover: 2.1x v 1.10x prior

SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM

Notes/Observations

Apple beats expectations

Japan does record its first trade deficit since 1980

Equities:

FTSE 100 -0.60% at 5718, DAX -0.40% at 6391, CAC-40 -0.60% at 3301, IBEX-35 -0.80% at 8525, FTSE MIB -0.70% at 15,820, SMI -1.3% at 6057

European equity indices opened the session higher, but have since pared gains amid another batch of disappointing corporate earnings, rise in peripheral bond yields (notably Portugal), continued concerns related to the Greek debt talks and caution ahead of the US Fed's interest rate decision due later today. Also, declines in shares of most financials are weighing on the European indices. The weakness in financials is being led by French and UK banks. Equities in Switzerland have underperformed, following earnings reports from Novartis [NOVN.CH] and Lonza [LONN.CH] - In individual movers, technology names, including Dialog Semiconductor [DLG.DE], Imagination Technologies [IMG.UK] and Arm Holdings [ARM.UK] are all moving higher after Apple reported better than expected quarterly results. In Switzerland, Lonza [LONN.CH] is lower by over 11%, after the company disclosed FY11 earnings and announced plans to search for a new CEO. Novartis [NOVN.CH] has declined by more than 3%, following its Q4 earnings report and 2012 guidance. Roche [ROG.CH] is lower by approximately 2%, after announcing a hostile $5.7B bid for US genetic analysis system manufacturer Illumina [ILMN]. In Sweden, Ericsson [ERICB.SE] has lost over 13%, after reporting weaker than expected earnings. Shares of Alcatel-Lucent [ALU.FR] and Nokia [NOK1V.FI] are also lower amid the weakness in Ericsson's shares. In Germany, Beiersdorf [BEI.DE] is higher by more than 3.5%, after reporting earnings. In France, Air France [AF.FR] is lower on renewed speculation that the company could report a significant loss for 2011. Also in France, shares of Inter Parfums [ITP.FR] and Biomerieux [BIM.FR] are both higher following their respective financial reports.
European Market Update
 

Related Articles

European Market Update

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other 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, don’t trash it.

  •           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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • 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.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email