FRANKFURT (Dow Jones ) – Europe’s stock markets tend noon on Friday a bit harder. Until the clock 12.43 Euro Stoxx 50 index rose by 0.5 % or 14 points to 2833 . For the Stoxx 50 index is about 0.6% or 16 points to 2552 upwards.
"Wall Street despite a weak initial Daily high on the trade , Asia despite weak initial Daily high on the trade – and this still one or the other in the market, " speculates one dealer. However, the price advances was taking place with possible thin turnover. "All this is in a rather spindly legs , " one dealer said the market situation . Before the U.S. labor market report on the afternoon trading activity is naturally low.
Analysts surveyed by Dow Jones Newswires expected in July with a decline in the number of employed ex farm of 60,000 the previous month. As in the past few months, the indicator "employment outside of agriculture " to be there distorted by the effect of the temporary census takers set . While in the first half of the statistics still positive influence , they are now peu a peu sent home and pollute the figures on the employment situation. The unemployment rate should be easily attracted to 9.6 % from 9.5 %.
In view of the development are expected in the private sector. Here are the estimates vary widely, Helaba speaks of a consensus estimate of plus 90,000. After on Thursday submitted initial applications for benefits from the U.S. unemployment insurance , the hopes for a quick recovery in employment but have largely scattered again. "The figures must therefore already be disastrous to shock the market yet , "says the market participants. That while the direction, but not the pace on the U.S. labor agree , be clear for months.
RBS provides thunderous final report
The banking sector shall be above average with 0.8 % surcharge . Royal Bank of Scotland ( RBS ) had brought the reporting season for the first half to a quite reassuring the end , as Richard Hunter, Hargreaves Lansdown Stockbrokers in dealer says . The big issues are similar to those of competitors , namely, a sharp improvement in write-downs at the same time a challenging environment for investment banking .
Euphoric is Mike Trippitt from Oriel Securities. The operating profit was higher than expected, the losses in non -core areas had been reduced. The private and the business sector would have developed well and are on the way to achieve the objectives set. He rates the shares in RBS with a "buy one , "as he sees target price 60 p. RBS rises by 2.1 % to 53.1 p.
There are also good quarterly numbers of Natixis , and a possible acquisition of the asset management business of UniCredit by the French. Natixis CEO Laurent Mignon called Pioneer on Thursday as a possible acquisition target . According to press reports , however, are also BNP Paribas and Amundi , a joint venture between Credit Agricole and Societe Generale , interested in the asset manager. "This could lead to a bidding war , thus increasing the accepted multiple for the asset management business are expected ", says the market participants. UniCredit gain 1.2% to 2.11 EUR . Natixis rise by 3.6 % to 4.45 EUR .
Commodity values supported by study
The raw values are in demand at a premium of 1.7 %. Here Exane BNP has used the classification to " Outperform "from" Underperform . " "It suggests that the reduction of stocks in China is over, the risk aversion in Europe to normal and the global trade is on the upswing , "says the analyst. Xstrata and Rio Tinto were to Outperform " from " Neutral " raised are set to 2.2% in 1107 to 2.6 % respectively p to 3,520 p.
Food values to give
On the other hand lose defensive food values 1.7%. After studying the half-year figures from Unilever , UBS has lowered the investment recommendation for the stock to " Neutral "from" Buy " . Margin development had fulfilled the expectation is not quite , says the above. In the second half of the group stood so a lot of tasks in the house. Unilever fall by 1.8% to 21.27 EUR .
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