FRANKFURT (Dow Jones) – Next up is on Monday at the European exchanges. The Asian markets had caused a continuation of Friday’s rally after the U.S. jobs report , and thus good targets.
The damper by the ISM index for the service area was put away . " have concluded that the U.S. markets , despite the failed expectation under ISM index virtually Daily high , speaks for the overall situation improved again , "said one dealer. We are looking for particularly German utilities and steel values. The Euro Stoxx 50 increased 0.4 % to 12.15 clock or 12 to 2758 points, the Stoxx 50 rose by 0.2% or 5 to 2542 meters.
To be favorable for the weekly course the sparsely populated data distributor cheap calendar, the disturbing influences prevented by economic data. "We could test during the week the resistance range 2800-2850 points, " one trader adds in order to add the Euro Stoxx 50 index. On Monday , however, would run for the U.S. holiday "Labor Day "on a quiet afternoon .
Steel sector is benefiting from price increases and shortages in China
Steel values are highly sought on Monday with reports of price increases. As a manager of the steel group ArcelorMittal to the " Handelsblatt "(Monday edition ) said the company plans to increase prices for the important intermediate rolled coils by 5 % to about 620 EUR / tonne. The competitors would follow the example , the paper said. Indeed, Thyssen announced at noon at a price of 30 EUR per tonne.
Moreover , scarcity drives policy in China. Some Chinese provincial governments are energy-intensive industries , including the steel industry to force them to save energy and have therefore ordered a temporary plant closures. Dealers are now hoping that the loss of production resulting in a tighter supply and a compensation by foreign steel producers. ArcelorMittal to increase by 1.5%, 1.2% ThyssenKrupp and Salzgitter by 1.2 %. The mines values are on average only 0.5 % above.
German utilities with nuclear compromise sought
Significant Outperformer , the German utility with the compromise on the nuclear policy. E. ON and RWE to increase by 3.2% to 2.9%, dragging the sector index up by 1.4 % . The lifetime extension of 12 years is evaluated positively in the market . "So are many risks to the shares , which have also held Dividenanleger purely from an investment , "said one dealer. The dividend strength of the supplier should now be the dominant sales argument. Analysts expect additional gains of around EUR 6.4 billion annually , of which approximately EUR 2.6 billion from fuel levy went over and additional funds. GdF Suez also rise by 1.7 %, Endesa by only 0.7%.
Profit-taking in cars
Light profit taking in the car songs slow down a bit indices . "All these stocks have risen in recent days about 10 % and short-term overbought make an impression , "said one dealer. With the high of almost 270 points from Friday at the Stoxx auto index to a strong resistance was herangelaufen . Daimler to give 0.8 % , BMW 0.7 %. Peugeot , Citroen and Fiat give 0.3% .
DJG / mod / raz / voi