FRANKFURT (Dow Jones) – With a little easier trend in Europe’s stock markets have been adopted on Monday from a quiet trading day. The Euro Stoxx 50 lost 0.5% or 15 to 2778 points, the Stoxx-50 fell by 0.5% or 12 to 2511 meters. Were sought financial and commodity values, automobile and pharmaceutical tracks were under pressure.
Dealers talked of a quiet business with no clear trends. Often it has not even been consistent trends within sectors. Given the complete absence of important corporate or economic data have guided the market alone in the U.S. market. Auschwitz is the leading S & P 500 index at a resistance area firmly from which he fell back in the early evening. This had the European stock markets pushed further into the red, it was said in the trade.
With the U.S. economic indicators from the second row, the rise of the Chicago Fed National Activity Index (CFNAI) was well received. The Index rose in January compared with minus 0.58 to plus 0.02 in the previous month. Observed by industry analysts, however, was more of the three-month average of the data, which had risen to minus 0.16 to minus 0.47. "This simply reinforces the ongoing hope that the economy is steadily but slowly recovering," said a dealer. Technical analysts see the Euro-Stoxx-50 assisted in 2760 and the current upward trend of about 2,700 points.
Automobile and retail securities under pressure
Shares from the automobile manufacturing and retail sectors were among the biggest losers. After the gains of the past days, it had come back to strong profit-taking car titles, said in the trade. Daimler lost 2.8% to 31,40 EUR, and BMW 0.6% to 30,26 EUR. Here we continue to give transfers from BMW, Daimler, after Daimler had cut the dividend, it said. Peugeot-Citroen also gave up 3% to EUR 20.06 on Renault lost 1.2% to 31,89 EUR. The sector lost 1.6%.
Retail stocks were the industry average of 1.3% in the minus. Carrefour continues suffered its financial figures released last Friday. Analysts at Exane BNP Paribas lowered the classification of the title to "neutral" to "Outperform" and pushed the stock up 2.4% to 34,09 EUR. Other industry members such as Tesco and Pinault-Printemps and gave way to 1.6%.
Title burdened by Glaxo Pharmaceuticals
Pharma-values suffer from the losses at GlaxoSmithKline. The sector index reduced by 1.2% GlaxoSmithKline 2.6% to 1203.5 p. The New York Times (NYT) in its Saturday edition quoted a study by the U.S. Food and Drug Administration, may lead to the effect that the diabetes drug ‘Avandia’ as a side effect of heart problems. The drug should therefore be taken off the market, advises the FDA, according to "New York Times. The U.S. investment bank Jefferies deduced from the risk of damages claims against GlaxoSmithKline for the stock. The other values were drawn into negative thereof, Roche and Novartis lost 1.3% each. DJG / mod / flf