FRANKFURT (Dow Jones) – European stock markets have closed down on Friday and thus somewhat recovered from the setback of the past trading days. Some good quarterly results and good news for the economy in the U.S. supported the backlash. Positive was also considered that on the eve of Ben Bernanke as Federal Reserve Chairman had been confirmed. The Euro-Stoxx-50 climbed by 1.4%, or 40 to 2777 points, the Stoxx 50 recovered by 1%, or 24 to 2479.
This success is not primarily the previously highly berappeln fallen cyclicals and financials, while defensive sectors such as pharmaceuticals and utilities could not keep pace.
The U.S. economic performance in the fourth quarter of 2009, according to preliminary information, at an annualized 5.7% increase compared to the previous quarter. Thus, the expectations were surpassed by 4.8%. The same applies to the purchasing managers index for the Chicago area, who had risen to 61.5 points, though it had been expected to decline.
"The unexpected increase is a good template for the national ISM index, which is also expected to penetrate further into the expansion area," said Thilo Heidrich economist of Deutsche Postbank. Prepared by the University of Michigan index of consumer confidence in January was also revised upward, but remains at a low level.
Technology sector will benefit from easy targets
The European technology stocks put in an average of 1.9%. Market participants referred to the convincing Microsoft numbers. Only the outlook was somewhat subdued. Infineon rose by almost 3% to 4.02 euros. The semiconductor sales remained somewhat below the market consensus, but profits exceeded the consensus forecast significantly. In addition, the sales forecast for the 2009/2010 financial year has been increased. SAP recovered significantly by 2.8% to 33.08 euros. Here again was the rumor of a possible takeover by Microsoft has been warming up.
Automobile values based very firmly – euro weakness
The export values closed significantly in the black, while the gain of 2.4% in the struck car values. "Perhaps the weak euro has a slow positive," said a dealer. The BMW’s sales figures were a positive surprise, the analysts of equinet. Do you think of BMW’s sales target for 2010 for conservative. The stock gained 4.8% to 30,96 EUR.
Fiat moved at 4.2% to 9.14 EUR also increased significantly. The Italian government has received bids for four other districts, according to a Sicilian works of the automotive group. The count also interested in the German rival Audi, Fiat, said people familiar with the matter on Thursday, Dow Jones Newswires. An Audi spokesman denied this.
Telekom values of gains in Telecom Italia having
The defensive telecom values rose to 0.8%, not quite as strong, but there was with the stock of Telecom Italia’s an outlier. For days now circulating on the market speculation that the Spanish competitor, Telefonica plans to expand its participation. This helped the value of a premium of 2.9% to EUR1.09. Contrast, German Telekom tended minus 0.5% to 9.36 EUR for weakness. "Telekom is committed in Greece, the burden," said a dealer. The German Telekom holds a 30% stake in Hellenic Telecom.
DJG / mif / reh