Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


07.04.2014 17:21

European stock close

European stocks declined the most in a month, with the Stoxx Europe 600 Index falling from a six-year high, as technology companies tumbled.

The Stoxx 600 fell 1.2 percent.

“The favorites of the past few months, such as technology and biotechnology stocks, seem to be losing some of the glamor,” said Benno Galliker, a trader at Luzerner Kantonalbank AG in Lucerne, Switzerland. “There are some big question marks around the fair valuation of these shares, hence we’re seeing a bit of a shift into more defensive stocks.”

The Stoxx 600 dropped today after rising for a ninth day on April 4, the longest streak since October, amid merger and acquisition activity and as U.S. payrolls and manufacturing increased optimism that the world’s largest economy is strengthening.

National benchmark indexes retreated in all western-European markets today, except Iceland.

FTSE 100 6,622.84 -72.71 -1.09% CAC 40 4,436.08 -48.47 -1.08% DAX 9,510.85 -184.92 -1.91%  

Technology shares in the Stoxx 600 rallied 128 percent from their low in March 2009 through a six-year high on April 2, beating the 111 percent increase for the broader equity index. The Stoxx 600 Technology Index traded at 20.5 times estimated earnings at the end of last week, compared with 14.8 for the broader gauge.

United Internet declined 4.1 percent to 34.14 euros, and ARM Holdings lost 2.3 percent to 973.5 pence. Iliad SA slid 5.5 percent to 198.50 euros.

Osram Licht retreated 6.7 percent to 44.36 euros. Berenberg Bank cut the lighting manufacturer to hold from buy, meaning it no longer recommends acquiring shares. The brokerage said the transition to LED light may create more of a headwind than originally predicted for the lamps and luminaries unit.

Altice jumped 11 percent to 33.57 euros, while Bouygues lost 6.3 percent to 28.88 euros. Cable billionaire Patrick Drahi’s Altice will pay 13.5 billion euros in cash and give Vivendi 20 percent of the company created from a merger of its Numericable Group with SFR. Vivendi will receive an extra 750 million euros if earnings targets are met, the companies said in separate releases. Vivendi added 0.3 percent to 20.61 euros.

Alfa Laval AB gained 1.3 percent to 179.90 kronor. The maker of heat exchangers agreed to buy Norwegian pumpmaker Frank Mohn AS for 13 billion kroner ($2.2 billion) in cash to capture spending in offshore oil and gas drilling.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page