FRANKFURT (Dow Jones) – At the European equity markets have recovered most of the classes on Monday.
The Dow Jones Euro Stoxx 50 rose by 1.2% or 33 to 2664 points and the Stoxx-50 put on 1.1% or 25 to 2399 points. "The Euro Stoxx depends heavily on the templates of Wall Street," said a dealer. There, the courses were able to defend the gains from late trading on Friday, contrary to expectations from the south, which also benefited the courses in Europe.
Nevertheless, traders also said that rallies stood as an operator literally, on shaky ground. This week, the states of Italy, Ireland and Britain gathered a fresh capital, the markets may put before the next test.
"On the other hand, the debt crisis seems to run only once dead," said another operator. Even rumors, which would lend to Greece, the German bank in the money market any more money, the markets could no longer be sustained press. The bank declined to comment on the rumor true, "but it is a good sign that the market for such rumors no longer react negatively," said the dealer. The panic of recent days could make such a sweeping recovery room, "he expected.
From a technical point of view of the area from 2700 to 2720 now remains the focal point. An increase also could push the Euro Stoxx Direction 2800, a rebound makes new lows at 2580 points possible for states with technical analysts.
Commodity Title recover with Xstrata
Among the individual sectors were able to recover commodity title, the sector index rose by 1.6%. Market participants consider to be favorable in this context, the long-term coal supply agreement at over 60 billion USD, which China has an agreement with the Australian Consolidated Resource House. "This demonstrates the continued interest in raw materials from China, the prices down to cushion out," said a dealer.
Xstrata gained 3.6% 984 p, the stock was, according to market participants from the financial figures for the past year supported. Of the analysts at UBS is to hear that had been presented better, especially in the nickel-than-expected production figures. The Konstensenkungsmaßnahmen have contributed their share. The cash flow meets the investment plans of the company. Xstrata remains the preferred value in the commodities sector with a buy recommendation and a target of 1,450 p, then the UBS. In addition to commodity values could also improve chemistry book, next moved as "defensive", ie konjunkturresistent current indices of food, utilities, pharmaceuticals and telecommunications shares.
Financials and technology stocks relatively weak
On the other hand, financial stocks showed relative weakness. The index closed higher by banks, thanks to acquisitions in the late business 0.2%, the insurance index dropped by 0.5%. "This suggests the uncertainty down because of the high public indebtedness," said a dealer. "If countries fail bonds, insurance companies and banks would have to write off capital investments," he added. The index of technology stocks fell by 0.5%, which was located on the SAP share. The lost with the sudden departure of Chief Executive Leo Apotheker 2.5% to 32.56 euros.
By Herbert-Rude, Dow Jones Newswires; +49 (0) 69 29725 217, herbert.rude @ dowjones.com DJG / hru / gei
