FRANKFURT (Dow Jones) – Something solid show , the European shares on Monday afternoon. The Euro Stoxx 50 increased 0.4 % to 12.24 clock or 11 to 2657 points, the Stoxx 50 rose by 0.1 % or 3 at 2408 meters.
The industry trends are uneven , only banks and mines values are clearly on course for recovery.
The weak targets from Wall Street to be at least not understood , says the trade. There, the economic data had deteriorated. Even in the superficially good news from the reporting season, there is growing skeptical voices. Above all, the disappointing sales performance in a number of U.S. banks and companies is seen as a warning signal. Among other things, viewed as an important economic indicator sales had disappointed at General Electric.
New worries about Hungary not beat even by
No market impact exercise , the discord in Hungary with the International Monetary Fund IMF. "It is surprising that the market does not play any new concerns about the national debt of the peripheral countries, " said one dealer. Supporting only has legal effect , that the IMF had recently praised Greece for its savings progress. The talks in Hungary, with the IMF had failed at the weekend. The Hungarian government wants can be no further austerity measures to impose. To give the country any further assistance payments from EU and IMF. Furthermore, Ireland has been in the country rating downgraded to " Aa2 ".
Utilities benefit from GdF Suez
Utilities are under the heavy losses of last week ’s strongest sector. The industry index was up 0.7 %. This supports a possible bid for Suez by GDF International Power. According to the Mail on Sunday " to prepare the French before a purchase with a volume of 6.4 billion pounds for the British. These were finally back positive news for the sector, says a dealer. He makes reference to the circulated takeover of 420 p per share. This would represent a severe premium to the closing price on Friday of 317 p. GdF record 1.5% higher at 24.70 EUR . Relax The last sell off German utility E. ON and RWE , and are up to 1.4% in the black.
Telefonica to bid in the material escapes Vivo Plus
Telefonica will benefit from the expiry of the bid for Vivo stake in Portugal Telecom. The shares rise by 0.7 % to 16.33 EUR . Most observers do not expect that it will come in the future to a renewed takeover attempt by the Spaniards , after the Portuguese government has prevented a sale. Telefonica ’s bid price was considered by analysts to be high. Only Citigroup goes from a deal between Telefonica and Portugal Telecom. The end of the bid deadline was merely a formality and should serve to increase the pressure on the Portuguese.
Philips – neutral overall figures – sales outlook disturbs
Philips is Europe as one of the first companies to go with the latest quarterly report to the start. While the figures themselves were somewhat turned out better than expected , says the trade. The slightly raised EBITA forecast was positive. This would , however, neutralized by the cautious tone with regard to the second half . The company expects a slowdown in momentum in sales , but exactly who is currently the focus of investor attention. Philips will be punished for it at minus 3.2% to 24.12 EUR .
BP also go back to South Course and record 3 % lower at 394 p. Early in the business , the shares were even up to 7% below. The securities are impacted by new uncertainty about the oil leak in the Gulf of Mexico. After the first impression was conveyed that leak was sealed, strain now reports that oil leak now elsewhere.
DJG / mod / reh / ISJ
Tags: euro stoxx 50, international monetary fund imf, mail on sunday, austerity measures, international monetary fund
