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24.07.2014 10:45

Major stock indexes in Europe traded with an increase

European stocks rose, offsetting early losses, which was associated with the publication of data on business activity and corporate reporting. Futures on American stock indexes and Asian shares have not changed.

Support is provided by data on business activity in Germany and the euro area in July. According to statistics Markit Economics, indicator showing business optimism in the manufacturing sector of Germany's economy, rose to 52.9 from 52.0, while analysts had expected growth to 52.2.

As for the euro area, there is a composite Purchasing Managers' Index, which covers the manufacturing sector and the service sector, rose to 54.0 in July from 52.8 points, the highest level since April. Latest update also proved significantly higher than the average forecasts of experts. However, while business activity in the service sector of the eurozone expanded at the fastest pace since May 2011 - PMI index rose to 54.4 from 52.8 - firms continue to reduce prices, which is fixed for the past 31 consecutive months. We add that the sub-index of prices for products in this sector fell to 48.3, despite high raw material costs. With regard to the sub-index of employment in the services sector, it has not changed in July (50.9).

Meanwhile, data showed that manufacturing index rose to 51.9 from 51.8 mark in June, which was slightly lower than expected (52.0).

Slight pressure have expectations introducing new EU sanctions against Russia. Sanctions that the Committee of Permanent Representatives of the EU will consider on Thursday evening may include a ban on the purchase of new shares or debentures issued by Russian banks with state participation above 50%, experts say, referring to the proposal of the European Commission.

Swiss drugmaker Roche Holding AG added 1.3%, registering the fourth consecutive session gain, which was associated with the confirmation of the annual forecast.

Kingfisher shares fell 7.50% after reports that creditors of the company are going to accuse her of frustrating the implementation of monetary obligations. We also learned that the company's sales in the II quarter, especially in June, were weaker than expected.

Quotes Nokia Corp. jumped nearly 7.3%, to a maximum of 3 years. The Finnish company has returned to the break-even level in the II quarter and forecast annual profitability improved network equipment units due to demand in China.

The market value of BASF SE fell by 1.9%. The world's largest chemical manufacturer reported a 12 percent increase in earnings before interest, taxes and one-time items in the second quarter - to 2.05 billion euros, compared with a forecast of 2.09 billion euros.

Paper Danske Bank A / S rose 5.3 percent, reaching the highest price since April 2008, after the second largest lender in Scandinavia increased annual forecast. Net income will rise to 13 billion euros ($ 2.3 billion) in 2014, said in Danske. Recall that on May 1 lender predicted profit of 12 billion kroner.

At the current moment

FTSE 6,805.47 +7.32 +0.11%

CAC 40 4,408.93 +32.61 +0.75%

DAX 9,797.99 +44.43 +0.46%

24.07.2014 12:00


Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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