Date: Friday 27 Jul 2012
LONDON (ShareCast) - - Stocks rise on more hints of ECB bond purchases
- US economy growing more quickly than forecast
- Airbus owner EADS surges on improved earnings
FTSE 100: +0.97%
Dax 30: +1.62%
Stoxx 600: +1.22%
Cac 40: +2.28%
Ibex 35: +3.91%
FTSE MIB: +2.93%
It was another strong day on European markets after Thursday’s big gains.
Yesterday the President of the European Central Bank, Mario Draghi, said officials would do “whatever it takes to preserve the euro”. That comment, made in a speech in London, has been the main force lifting equity prices as investors bet the ECB is about to wade into the secondary bond market.
That impression was strengthened today after the French President, Francois Hollande, and the German Chancellor, Angela Merkel, released a joint statement echoing Draghi, saying they would do “everything” needed to keep the euro project intact.
In other positive news, the initial estimate of US GDP growth in the second quarter came in at an annualised rate of 1.5%, slightly better than the 1.4% consensus forecast.
In Japan, inflation, as measured by the Consumer Prices Index, fell 0.2% year-on-year in June meaning the world’s third largest economy may also begin bond purchases to pump more money into its beleaguered financial system.
COMAPNIES
On the benchmark Stoxx Europe 600 index automobiles and parts was the strongest sector, rising 2.7%. The weakest was media, gaining just 0.06% by the close.
It was a busy day for French stocks. Amongst the risers were Michelin, the world’s second largest tiremaker, which gained 7.7% after reporting earnings of €1.32bn, better than the consensus forecast.
Renault (+6.35%) was also up after its earnings beat market expectations.
EADS, the Dutch listed owner of Airbus soared 5.7% after earnings topped €1.4bn.
OTHER MARKETS
The euro was up 0.64% against the dollar at 16:48 in London at £1.2362.
BS
Email this article to a friend
or share it with one of these popular networks:
Currency | Euro |
Share Price | 37.42 |
Change Today | -0.02 |
% Change | -0.05 % |
52 Week High | 37.56 |
52 Week Low | 26.12 |
Volume | 1,261,914 |
Shares Issued | 425.00m |
Market Cap | 15,904m |
Beta | 0.51 |
Time | Volume / Share Price |
17:39 | 386 @ 37.42 |
17:39 | 592 @ 37.42 |
17:39 | 6,242 @ 37.42 |
17:39 | 8,033 @ 37.42 |
17:39 | 546 @ 37.42 |
You are here: research