Date: Friday 23 Jul 2010
Europe’s top stocks closed slightly higher ahead of the results of the European stress tests, thanks to strong economic figures.
After the markets closed, EU lenders were given a largely clean bill of health when European banking regulators released the results of their so-called stress test on Friday.
According to the eagerly anticipated results, 84 out of the tested 91 European banks would be able to cope with future economic blow-ups.
The overall capital shortfall among the failed banks was €3.5bn.
Elsewhere, figures on German business confidence came in much better than expected in July. The Ifo Institute's business-climate index rose to 106.2, the highest since July 2007, from 101.8 in the previous month. Analysts were looking for a small drop to 101.6.
After the markets closed, EU lenders were given a largely clean bill of health when European banking regulators released the results of their so-called stress test on Friday.
According to the eagerly anticipated results, 84 out of the tested 91 European banks would be able to cope with future economic blow-ups.
The overall capital shortfall among the failed banks was €3.5bn.
Elsewhere, figures on German business confidence came in much better than expected in July. The Ifo Institute's business-climate index rose to 106.2, the highest since July 2007, from 101.8 in the previous month. Analysts were looking for a small drop to 101.6.
The Munich-based Institute’s gauge of the current situation increased to 106.8 from 101.2, while the expectations index moved to 105.5 from 102.5.
Banks including Credit Agricole and Societe Generale closed largely lower.
Across the markets, the Dax in Frankfurt closed 24 points higher at 6,166, with the Cac in Paris up 6 points to 3,607. The Swiss market added 7 points to 6,201.
Ericsson dropped after the Stockholm-based group’s second quarter net profit came to 1.88bn Swedish kronor, missing expectations for 2.73bn kronor.
Mobile phone network operator Vodafone returned to organic revenue growrh in the April to June quarter of 2010 for the first time since the near global recession. Group revenue increased by 4.8% to £11.3bn and group service revenue increased by 4.9% to £10.6bn in the first quarter of the group’s financial year.
Banks including Credit Agricole and Societe Generale closed largely lower.
Across the markets, the Dax in Frankfurt closed 24 points higher at 6,166, with the Cac in Paris up 6 points to 3,607. The Swiss market added 7 points to 6,201.
Ericsson dropped after the Stockholm-based group’s second quarter net profit came to 1.88bn Swedish kronor, missing expectations for 2.73bn kronor.
Mobile phone network operator Vodafone returned to organic revenue growrh in the April to June quarter of 2010 for the first time since the near global recession. Group revenue increased by 4.8% to £11.3bn and group service revenue increased by 4.9% to £10.6bn in the first quarter of the group’s financial year.
Credit ratings agency Moody's placed Hungary's Baa1 local and foreign currency government bond ratings on review for possible downgrade due to the increased uncertainty regarding the country’s fiscal outlook and economic prospects.
CAC 40 - Risers
Alstom (ALO) € 38.49 +3.57%
EADS (EAD) € 17.92 +3.26%
Veolia Environnement (VIE) € 20.08 +2.11%
Renault (RNO) € 34.90 +1.84%
Lagardere SCA (MMB) € 27.85 +1.83%
Vallourec (VK) € 80.89 +1.68%
ArcelorMittal SA (MT) € 25.36 +1.68%
Suez Environnement Company (SEV) € 14.43 +1.62%
Saint Gobain (SGO) € 32.94 +1.60%
Technip (TEC) € 52.89 +1.57%
CAC 40 - Fallers
Sanofi-Aventis (SAN) € 45.03 -5.25%
ST Microelectronics (STM) € 6.43 -4.50%
Pernod Ricard (RI) € 62.64 -2.29%
Alcatel-Lucent (ALU) € 2.08 -2.21%
Credit Agricole (ACA) € 9.38 -0.89%
AXA (CS) € 13.12 -0.72%
Societe Generale (GLE) € 37.81 -0.42%
Dexia (DEXB) € 3.30 -0.30%
France Telecom (FTE) € 14.94 -0.23%
BNP Paribas (BNP) € 49.75 -0.20%
No comments:
Post a Comment