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25.07.2014 10:30

Major stock indexes in Europe traded down

European stock indexes fell slightly, but still showing growth in the week, as investors assess corporate reporting and data for Germany.

Among the European companies that reported, 40 percent fell short of analysts' forecasts compared to 28 percent of reported U.S. companies.

"Overall sentiment remains neutral as investors continue to prefer U.S. stocks European as quarterly results of U.S. companies largely exceeded expectations," - said a senior trader at Peregrine & Black Marcus Hubert.

As for the report on Germany, he showed that the July level of business confidence in Germany from the institute Ifo, fell again, thereby exceeded the forecasts of experts and fixing the third consecutive monthly deterioration. According to the report, the business climate index fell in July to a level of 108.0 points compared to 109.7 points last month, and economists' expectations at the level of 109.6 points. With regard to the current index, that he fell this month to the level of 112.9 points, which was also well below economists' expectations of 114.5 points. Recall that in June, the index stood at 114.8 points. We also learned that the expectations index deteriorated to 104.5 points, slightly exceeding the forecasts of experts 104.4 points. Last month, the value of this index was 104.8 points.

LVMH shares fell 7.0 percent because sales and profits in the second quarter fell short of analysts' forecasts due to the downturn in demand for its products in China. Richemont shares fell 2.1 percent, Burberry - 1.9 percent and Kering - by 3.3 percent.

Lafarge SA shares rose 0.5%. French cement maker slightly increased net profit in the second quarter due to cost-cutting, which allowed to neutralize the negative effects of exchange rate differences. Lafarge net profit in the second quarter rose by 2% - up to 205 million euros, sales fell by 5% - up to 3.37 billion euros. Analysts polled by FactSet Research, on average forecast net profit of the company at 244 million euros on sales of 3.43 billion euros.

Paper Danone SA - French yogurt maker - down by 0.3%. Operating profit in the first half amounted to 1.18 billion euros, confounding the average market forecast at 1.21 billion euros.

The value of shares Air France-KLM Group - French airline - jumped by 5.2%, due to the sharp reduction in net loss in the second quarter.

The cost of securities Royal Bank of Scotland Group Plc rose by 14%. British bank doubled its pre-tax profit in the first half of 2014 and intends this year to meet the target of cutting costs by 1 billion pounds ($ 1.7 billion). During the session of the increase in prices of securities RBS is 15%.

Statoil ASA shares fell 2.9 percent. The biggest energy company in Norway said that the adjusted profit after tax fell to 9.9 billion kronor in the second quarter from 11.3 billion kronor a year earlier. Experts expected profit at 10.9 billion crowns.

At the moment:

FTSE 100 6,819.98 -1.48 -0.02%

CAC 40 4,383.8 -26.85 -0.61%

DAX 9,761.79 -32.27 -0.33%

25.07.2014 12:01


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