FRANKFURT (Dow Jones) – With a genuine rally have Europe’s stock markets adopted on Friday from the trading week. Good economic news from the USA and Germany surprised investors who the day had not yet started with profit taking. All the sectors closed in positive territory . In particular demand , the economy cyclicals such as cars.
The Euro Stoxx 50 jumped by 2 % or 54 to 2793 points, the Stoxx 50 rose by 0.9 % or 24 to 2539 meters. In view now of the ISM index is in the coming week. In the evening, still talking several U.S. central bankers , including Fed Chairman Ben Bernanke.
Good economic data from Germany and the U.S.
Surprisingly good economic data from the U.S. and Germany drove the markets. Especially with another rise in the business climate in Europe’s largest economy , was not expected . The Ifo index rose to 106.8 points, after the indicator had been in the previous month at 106.7 . Economists had the other hand, a slight decrease expected to 106.5 . The most important German economic leading indicator is thus still at the highest level since June 2007. "After the strong increase of the Belgian business confidence index was again a positive surprise, " commented one trader.
From the United States enjoyed the orders of long-lived assets. Although the orders were received in August decreased overall by 1.3%. Analysts had but expected already with a decline of 1 %. The more important and the market as a crucial orders consideration ex transport rose by 2%.
The U.S. new home sales were well received. The reported sales in August were up 288 000 close 295 000 to the expected worldwide. The previous month, July was but revised sharply to 288,000 upward , after he had previously stood at 276,000. "The soil formation in the U.S. market seems to be there , and more would not listen to the market too, " said another dealer.
Rally of the economic – cycle company – car values front
By strong buying in economy – cyclicals dealers reported after midday . " in invested be Due to the whole double-dip talk now investors forced in the market, " said one trader. The index of the next value jumped by 3.4 %. Daimler and BMW put each more than 4 % , Peugeot up 3.1 % and Fiat to 2%.
The chemistry values continued to benefit from the statements made by BASF that there was no summer slump. Here, BASF jumped by 2.8 % and Air Liquide by 2.5 %. The index the chemicals tracks rose by 1.5 %.
In the industrial and technological values Alcatel – Lucent climbed by 7.5 % to 2.49 EUR . The analysts at Oddo have the stock recommended to buy with target price 3 EUR. The positioning of the company in the mobile data market will simply underestimated , according to analysts . Philips rose by 3.9% , Schneider Electric by 3.6 %. The industry index of industrial stocks rose by 2.1 %.
Even financial stocks benefited from the improved economic outlook. The banking index rose by 1.6 %, insurance value by 1.5 %. Among other things, Societe Generale jumped by 3.9 %, Intesa and Unicredit both 3.3% and Credit Agricole as much as 5% to 11.97 EUR . Credit Agricole is expected by analysts data already have from 2012, the new Basel III rules are the same and not only 2018th
Bad news only in the pharmaceutical sector
Bad news did exhibit on Friday , only the pharmaceutical sector. Only thanks to the market broad purchases in the afternoon managed a few titles to jump into a positive . The sector index was at 0.1 % premium at the end of the list of winners. In Germany, Merck KGaA broke up 10.2 % a at EUR 63,00 . The " cladribine "tablets have been used to treat relapsing forms of multiple sclerosis, not by the European Medicines Agency EMA recommended for approval . The setback for Merck is huge because the company had placed much hope in " cladribine "said one analyst.
Novartis benefited from this and climbed by 1.9 % to 56.60 CHF . In the competition for the first entry of the Swiss pharmaceutical giant of Darmstadt Merck in the U.S. has already passed and the approval for its competing product " Gilenia " obtained.
Glaxo makes the leap by 0.4 % to plus on 1264.50 p, although the and Drug Administration EMA has ordered a ban for diabetes funds Avandia . Supported sales, however, that the U.S. FDA in the United States allows the sale , subject to conditions .