FRANKFURT (Dow Jones) – Factors that have influenced business on Wednesday on the European stock exchanges. The hope of some investors that the market would benefit from the opportunity to overcome the mark of 3,000 points in the Euro Stoxx 50, thus not fulfilled. Rather impacted slightly negative targets from the U.S. and Asia.
The Euro Stoxx 50 index lost 0.9% or 26 to 2966 points, while the Stoxx-50 was about 0.6% or 15 to 2579 meters down. The pressure was off at a very low turnover above all on the derivatives side. The better than expected Chicago Purchasing Managers Index, given the thin turnover exerted no influence.
Bad mood would not still be responsible under dealers. "After all we had in the past few days, a small year-end rally," said one participant. At the beginning of the year had only very few can imagine that the market would still take away such a friendly course.
Lain After reaching the year-low in the spring of 1765 points in the Euro Stoxx 50 and Stoxx-50 in 1584 had an impressive year in European stocks rally, with substantial gains. Also during the year it does not look bad. Here, the Euro-Stoxx-50 so far gained about 25%, the Stoxx-50 about 20%, while in some European stock markets on Thursday and is still trading.
Commodity values under pressure
With a discount of 0.2% in the Stoxx area suffered moderate losses in commodity sectors. The trade was made to vulnerable targets and profit taking. As was mentioned also a load of emerging trade dispute between China and the U.S.. The U.S. government had announced the previous day preliminary punitive tariffs on various steel products from China. The United States sent out protectionist signals, it said. The measure could be damaging to the steel trade between the two countries. China reserved the right to unsubscribe to the dispute before the World Trade Organization WTO, the Chinese reaction. ArcelorMittal fell by 1.2% to EUR 32.18, Salzgitter by 1.6% to 68.44 euros and ThyssenKrupp up 1.6% to 26.40 euros.
However, the charges are negligible, because with a doubling since the beginning of one of the commodity sector is outperforming the year 2009. In addition to the traditionally high volatility of the recovery in commodity prices and the still booming economy ensured the growth markets for demand.
Profit for suppliers
For suppliers it came after the recent outperformance to profit taking. E. ON losing about 1.3% 29,23 EUR, for Iberdrola it was even 2.3% or 0.16 to EUR 6,67 EUR down. The losses were, however, purely visual one. The company pays dividend to EUR 0.143 to its shareholders. The sector index lost 0.4%.
Market participants expect that the sector could benefit from a catch-up effect in the next few years and belong to the outperformers, having been developed in 2009 virtually unchanged.
Building value somewhat burdened by skeptical statements
Building value lost 0.5%. According to Holcim, the cement market recovery could take even longer, and a "painful adjustment process," to be necessary. "It will take at least three to five years to reach the markets for construction materials in the mature economies most affected back to their peak," quoting the "FTD" Markus Akermann, head of the world’s second largest cement producer Holcim. The stock lost 0.6% to 80.50 Swiss francs.
On view from 52 weeks have risen in the Stoxx-600 Bauwert contrast, has assembled about 40%. Economic programs and the increased volatility of the sector have contributed. DJG / mif / flf