|
European Market Updates
11/12/2009 1:51 AM ET
(RTTNews) -
The European markets may see a mixed opening on Thursday, as investors brace for a raft of domestic corporate earnings.
After a bright start, the Asian markets have either pared their early gains or drifted lower on Thursday with a section of participants indulging in some profit-taking on concerns the recent rally might have run its course.
The Bank of Korea on Thursday decided to maintain interest rates at the record low of 2.00 percent, signaling that most Asian central banks are in no hurry to loosen their accommodative policy stance. In Australia, total employment rose by an unexpected 24,500 positions in October, largely attributable to part-time jobs, versus a loss of 10,000 jobs predicted.
Crude oil held mostly steady above $79 a barrel on Thursday as traders adopted a wait-and-watch attitude ahead of the release of the U.S Energy Information Administration's inventory report, delayed by a day due to the Veteran's Day holiday.
On Wall Street, stocks posted modest gains overnight amid some positive economic indicators from China, including reports showing strong industrial output and retail sales growth. The major averages closed firmly in positive territory but well off their best levels of the day. The Dow moved up 0.43%, the Nasdaq by 0.74% and the S&P 500 by 0.5%.
In corporate news, container-ship company Danaos Corp. reported a lower profit for the third quarter ended September 30, impacted by rise in expenses, as well as a significant loss on fair value of derivatives.
Portugal's bank Banco Comercial Portugues SA said it nine-month net profit rose 25 percent to EUR178.1 million from EUR142.1 million a year earlier.
Galp Energia SGPS SA said its adjusted nine-month net profit fell 49 percent year-over-year, but said oil product sales are showing signs of upturn in Portugal.
EVS Broadcast Equipment S.A reported third-quarter IFRS profit attributable to equity holders of EUR 5.63 million or EUR 0.41 per share, compared to EUR 16.42 million or EUR 1.20 per share last year.
The European markets rose on Wednesday, as Credit Agricole and Holcim reported better-than-estimated earnings and a report showed China's industrial production increased more than economists expected.
The FTSEurofirst 300 index of pan-European blue chips closed 0.36% higher, while the narrower DJ Stoxx 50 index rose 0.19%. Around Europe, the U.K.'s FTSE 100 index rose 0.69%, France's CAC 40 index advanced 0.76% and Germany's DAX index added 0.98%.
by RTT Staff Writer
For comments and feedback: contact editorial@rttnews.com
|
|
|
|
|
More European Market news |
|
|
4 Articles
|
|
|
|
|
|
|
|
|