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08.08.2013 17:23

European stocks close

European stocks rose on the data on the trade balance in China and Germany.

As recent data, which were presented by the Federal Statistical Office on the basis of German exports rebounded in June, which was supported by strong demand from countries not included in the composition of the euro area, while the volume of imports unexpectedly declined, reflecting the weakness in domestic demand.

According to the report, the volume of exports, adjusted for working days and seasonal changes, rose in June by 0.6%, compared with a revised fall of May at 2%. However, the growth rate was weaker than the average forecast from the experts - at the level of 0.9 percent. As for imports, its volume decreased by 0.8%, after rising 1.4% in May, which was revised. Economists had forecast that imports will rise by 0.5%.

According to another report, the volume of China's July exports rose by 5.1% compared to the same period last year, after falling 3.1% in June, while imports increased by 10.9% after the June decline to 0 7%. We also add that many analysts had expected growth of exports last month by 2.8% and imports increased by 1.3%. In addition, it was reported that the July trade surplus fell to $ 17.8 billion from $ 27.13 billion a month earlier, while the market expected an average of $ 26.2 billion

FTSE 100 6,529.68 +18.47 +0.28%, CAC 40 4,064.32 +25.83 +0.64%, DAX 8,318.32 +57.84 +0.70%

Deutsche Telekom increased by 7.7%. Germany's largest phone company said revenue rose by 5.4% to 15.2 billion euros ($ 20.3 billion), exceeding analysts' forecasts at 14.6 billion euros. Net income rose by 10% to 530 million euros, compared with a year earlier.

Commerzbank rose by 15.7%. The second largest bank in Germany reported that second-quarter net profit of 43 million euros, compared with 270 million euros in the second quarter of last year, exceeding the average estimate of experts at 4.6 million euros.

Adecco SA rose 3.1% after the world's largest supplier of temporary workers reported an increase in profit and said it sees positive signs for business, as the labor market is stabilizing in Europe. The data showed that second-quarter net income rose 12% to 126 million euros, exceeding the assessment of experts at 112.1 million euros.

Nestle SA fell 2.1% after the world's largest food company reported the slowest sales growth in the first half of the year for the last four years. Sales increased by 4.1 percent, excluding acquisitions, divestments and currency changes. According to forecasts, the growth was 4.5%.

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