FRANKFURT (Dow Jones) – After stagnating courses start the week, investors have on the European stock markets again on Tuesday upped the ante a shovel. Dealers reported an optimistic attitude on the part of investors with a view to the future configuration of the rescue called European Financial Stabilization Fund for the highly indebted countries in the euro area peripherals.
The Euro Stoxx 50 moved up 1.2% or 35 points to 2946, which is the highest level since 26 April 2010. The Stoxx 50 rose by 1% or 26 meters on 2711. At this level, the index last acted on 15 April last year. The stock exchanges in Milan, Paris, Amsterdam, Zurich, Madrid and Frankfurt reported new highs in the emerging stock exchanges worldwide.
Tailwind got the courses in the morning from a survey of investors to aid economic development in Germany. The results of the ZEW survey has exceeded the consensus estimate significantly. In the afternoon, figures revealed in the manufacturing sector of the New York region and the development of nationwide home prices with the consensus estimates.
Banks wanted – give Citigroup a damper
Bank shares were on average by 1.6%. In particular, the Spanish paper money stores such as BBVA (+5.4%) and Santander (+4%), according to traders benefited from the expectation that the euro group on the parachute for the highly indebted countries in the euro area peripheral to reach agreement.
Surprisingly weak quarterly results from Citigroup were the prices of European banks at noon, but fall back from their daily highs somewhat. Citigroup’s bonds declined on Wall Street by almost 7%.
Commodity stocks in demand
The raw values increased by 1.1%. Rio Tinto gained added 1.5% to 4450 p. The mining company has especially in business with Eisennerz, put in the prices strong, according to observers, exceeded its own forecast and set a new production record. Also, Xstrata (+1.6%) and BHP-Billiton (+1.4%) increased.
Study by Goldman Sachs supports the technology sector
A study by Goldman Sachs took care of gains in the European technology sector. For growth accordingly provide products such as smartphones and Tablet PCs, but also in the automotive industry is the demand strong. Analysts have raised the price target for Infineon to 11.00 of 8.80 EUR. Infineon moved up 5.4% to 7.79 EUR. STMicroelectronics closed 5.1% higher at 9.17 EUR.
ARM Holdings has been Goldman Sachs upgraded to "buy" from "neutral" and gained 4.3% to 536.50 p. The decision to open Microsoft, its main operating system for ARM processors, analysts evaluated as a door opener for ARM Holdings.