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

Friday's European Market Update

By Trade The NewsMarket OverviewMay 03, 2013 08:06AM ET's-european-market-update-165572
Friday's European Market Update
By Trade The News   |  May 03, 2013 08:06AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
ECB members clarify possibility on negative rates
EU Commission paints a gloomier picture for Europe

  • (CN) China Apr Non-Manufacturing PMI: 54.5 vs. 55.6 prior (14th straight month of expansion)
  • India RBI cuts interest rates for 4th time in current easing cycle
  • Financial press report that suggested that some at ECB wanted a bigger cut
  • ECB members out in force putting their spin on yesterday's rate cut and solidarity among its council
  • ECB's Nowotny: Draghi's comments on possible negative interest rates had been over-interpreted,
  • New EU Commission economic forecasts paint gloomier picture for Europe
  • Focus moves to US April payroll report
Economic Data
  • (IN) India Central Bank (RBI) cut Repo Rate and Reverse Repo Rates by 25bps each to 7.25% and 6.25% respectively; Left Cash Reserve Ratio (CRR) unchanged at 4.00% (all as expected)
  • (IE) Ireland Apr NCB Services PMI: 55.2 v 52.3 prior; three-month high
  • (CH) Swiss Q1 UBS Real Estate Bubble Index: 1.17 v 1.11 prior
  • (NO) Norway Apr PMI SA: 48.9 v 49.8e
  • (HU) Hungary Feb Final Trade Balance: €639.4M v €672.6M prelim
  • (TR) Turkey Apr Consumer Prices M/M: 0.4% v 0.7%e; Y/Y: 6.1% v 6.5%e; CPI Core Y/Y: 5.4% v 5.8% prior
  • (TR) Turkey Apr Producer Prices M/M: -0.5% v +0.8%e; Y/Y: 1.7% v 2.3% prior
  • (EU) ECB: €1.79B borrowed in overnight loan facility vs. €20.0M prior; € parked in deposit facility vs. €120.8B prior
  • (NO) Norway Apr Unemployment Rate: 2.6% v2.6%e
  • (BR) Brazil Apr FIPE CPI: 0.3% v 0.2%e
  • (UK) Apr PMI Services: 52.9 v 52.4e
  • (EU) Euro-Zone Mar PPI M/M: -0.2% v -0.2%e; Y/Y: 0.7% v 0.6%e
Fixed Income


FTSE 100 +0.10% at 6,468, DAX +0.10% at 7,971, CAC 40 -0.10% at 3,856, IBEX-35 +0.50% at 8,443, FTSE MIB -0.20% at 16,718, SMI -0.40% at 7,874, S&P 500 Futures -0.10% at 1,590

Equity markets in Europe are trading mixed as traders assess the recent rate moves and commentary out of the ECB. Additionally, the April US payrolls report is expected to be in focus. European banks are trading mixed, following earnings reports from BNP and RBS. Resources related firms are mostly higher, tracking the gains in copper and gold prices.
  • UK movers [Man Group +8% (capital reduction plan), Smurfit Kappa +3% (Q1 sales rose y/y); RBS -4% (Q1 sales declined y/y on markets unit), Direct Line Insurance -2% (Q1 gross written premiums declined)]
  • Germany Movers [Sky Deutschland +6% (Q1 EBITDA above ests), Adidas +5.5% (Q1 profits above ests), ThyssenKrupp +5% (broker commentary), Telefonica Deutschland +2% (affirmed outlook), Continental AG +1% (Q1 profits above ests); Hugo Boss -6% (share placement)]
  • France movers [CGGVeritas +9% (swung to profit in Q1), Vallourec +8.5% (Q1 profits above ests), BNP +0.50% (Q1 results above ests); Air France -3% (reported Q1 net loss), Remy Cointreau -2% (share placement)
Friday's European Market Update

Related Articles

Friday's 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’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
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?
Replace the attached chart with a new chart ?
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'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
Sign up with Email