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 MarketsMar 08, 2013 06:05AM ET
www.investing.com/analysis/european-market-update-158298
European Market Update
By Trade The News   |  Mar 08, 2013 06:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Risk appetite holds firm into U.S. payroll data.

Notes/Observations
  • China Feb trade balance showed unexpected surplus at $15.3B -$6.9Be; Exports rose more than expected (21.8% v 8.1%e) while imports fell by more (-15.2% v-8.5%e)
  • Japan final Q4 GDP unrevised at +0.2% annualised
  • Japan Jan Current Account deficit smaller than expect at -¥365B vs -¥612Be
  • Fed Stress Tests showed 17 of 18 banks passed stress test; Ally Financial failed as tier 1 cap ratio fell below 5% (at 1.5%)
  • French indicators point to Q1 growth of 0.1%
  • Swiss Feb CPI fell -0.3% y/y, the same as in January as country remains mired in deflation.
  • Primary focus today is the release of February US jobs data; "whisper number" looking for a gain around +200K.
Economic Data
  • (FI) Finland Jan Industrial Production M/M: -3.6 v +1.6% prior; Y/Y: -4.8% v -1.3% prior
  • (SE) Sweden Feb PES Unemployment Rate: 4.7% v 4.8%e
  • (FR) Bank of France Feb Business Sentiment: 96 v 96e
  • (FR) France Jan Central Govt. Balance: -€12.8B v -€87.2B prior
  • (ES) Spain Jan Industrial Output NSA Y/Y: -3.6% v -8.5% prior; Industrial Output WDA Y/Y: -5.0% v -6.0%e
  • (HU) Hungary Q4 Final GDP Q/Q: -0.9 v -0.9% prelim; Y/Y: -2.7 v -2.7% prelim
  • (TR) Turkey Jan Industrial Production WDA M/M: +2.3 v -1.5% prior; Y/Y: +1.9 v -1.8% prior; Industrial Production NSA Y/Y: 2.1% v 1.6%e
  • (CZ) Czech Feb Share of Unemployed 15-64 Age Group: 8.1% v 8.1%e
  • (CZ) Czech Jan Trade Balance (CZK): 31.5B v 29.6Be
  • (AT) Austria Q4 Final WIFO GDP: 0.1% v % prior
  • (EU) ECB: €206M borrowed in overnight loan facility vs. €48M prior; €129.1B parked in deposit facility vs. €139.4B prior
  • (CH) Swiss Feb CPI M/M: 0.3% v 0.3%e; Y/Y: -0.3% v -0.3%e
  • (CH) Swiss Feb CPI EU Harmonized M/M: +0.3% v -0.5% prior; Y/Y: +0.1% v -0.1% prior
  • (SE) Sweden Jan Industrial Orders M/M: -3.1% v 7.7% prior; Y/Y: -5.4% v -2.8% prior
  • (SE) Sweden Jan Industrial Production M/M: -2.0% v +0.5%e; Y/Y: -7.8% v -4.8%e
  • (CZ) Czech Q4 Current Account: -€1.4B v -€1.7Be
  • (IC) Iceland Q4 GDP Q/Q: 0.5% v 4.8% prior; Y/Y: 1.4% v 2.2% prior
  • (UK) Feb BOE/GFK Inflation Next 12-month: 3.6% v 3.5% prior
  • (UK) Jan Construction Output M/M: -6.3%; Y/Y: -7.9%
  • (GR) Greece Feb CPI Y/Y: 0.1% v 0.2% prior; CPI EU Harmonized Y/Y: 0.1% v 0.0% prior
Fixed Income
  • (ZA) South Africa sold total ZAR800M in I/L 2022, 2025 and 2050 Bonds

SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM

Equities
  • Indices: FTSE 100 +0.30% at 6,458, DAX +0.50% at 7,982, CAC-40 +0.70% at 3,820, IBEX-35 +1.2% at 8,493, FTSE MIB +0.90% at 16,085, SMI +0.40% at 7,739, S&P 500 Futures +0.30% at 1,542
European equity indices are broadly higher, ahead of the release of the US monthly payrolls report. Today's gains have been led by the Spanish IBEX-35 and Italian FTSE MIB. Earlier during the session, Germany's DAX tested the 8,000 level for the first time since early 2008 (In Tokyo, the Nikkei 225 also traded at levels not seen since 2008). European banks are broadly higher, led by shares of BNP, Credit Suisse, HSBC and Unicredit. Resource-related companies are mostly lower, tracking the weakness in copper prices.
  • UK movers [Centrica -1.5% (broker commentary),Marks & Spencer -0.70% (broker commentary)]
  • Germany movers [Hochtief +4% (broker commentary)]
  • France movers [Lagardere +3.5% (planning to sell EADS stake), Veolia Environmental +1% (asset sale)]
  • Spain movers [Vueling +4.5% (rejected IAG's offer),Telefonica +1.7% (broker commentary)]
  • Italy movers [Saipem +2% (Eni is not seeking to spin-off stake in company)]
  • Switzerland movers [Gate Group +5% (contract award), Credit Suisse +2% (broker commentary)]
  • The Netherlands movers [Fugro +10% (FY results above ests, raised dividend)]
  • Belgium movers [Galapagos -6% (FY loss wider than ests)]
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
Disclaimer: All information provided by Trade The News, referred to as TTN or WE hereafter, is for informational purposes only. TTN does not provide investment advice nor is anything on our site a recommendation to Buy or Sell securities from TTN. Our community, which is a real-time interactive mesh of all many mediums of communications spans over 100 countries and always taken from sources deemed reliable. No guarantees or assurances can be made to the accuracy of any information provided.
Continue with Google
or
Sign up with Email