FRANKFURT (Dow Jones) – European stock markets are closed on Monday very firm . Dealers said a recovery , which was however accompanied only by thin turnover. Investors have acted before the meeting of the Federal Reserve or the auction of Irish government bonds on Tuesday restrained.
"Ultimately , only the roofing of short positions , but no real purchases ", said a market participant. The statements of the National Bureau of Economic Research ( NBER ) that the recession had ended in June 2009 , had promoted the recovery.
The Euro Stoxx 50 rose by 1.6 % or 45 points to 2803 , the Stoxx 50 was about 1.3% or 34 to 2571 posts upward. Interestingly , the auction should be of Irish government bonds on Tuesday. Since it concerns longer-dated paper, put this a real test of the readiness of the host market , said a market participant. On Friday speculation had arisen whereby the country could obtain the assistance of the International Monetary Fund to complete. This was however denied .
Potash continues to struggle
Commodity values rose by 0.7%. The struggle for Potash was the sector remain in suspense. In addition to the Anglo -Australian has mine operator BHP Billiton to a report in the weekly Chinese entitled The Economic Observer " and the Chinese chemical conglomerate Sinochem interest in Potash . Sinochem had asked the Chinese government for its support.
BHP still moved by 2.1 % to 1980 p, suggesting that the Chinese, who have already been frequently mentioned as a prospect, not too big opportunities are given . K + S , however, included as a competitor of the winners of Potash simmering takeover speculation and moved up 4.7 % before to 45.22 EUR .
New reports on capital needs of banks do not charge
Reports on the German capital and / or European banks played only a minor role for the sector , which rose by 1.2 %. " The expected numbers floating around in space are still changing frequently, " said a participant . The decisive factor for investors is that the problem cases , almost all banks in public or lay institutions controlled by governments .
The capital of private banks is by contrast very well. Many private institutions already reached the new Basel- III requirements for the year 2019. Little interest in an article on the trend of the banking industry in the New York Times was ". In it the dazzling Bankenanalystin Meredith Whitney was cited for its assessment has become the business for the banks in the summer months bad. Whitney expects that revenues will decline in the sector in the current year by 25 % over the previous year.
Analysts at Credit Suisse had increased the shares of Credit Agricole to " Outperform "from" Neutral . " There is the "Basel III " decisions and the very long period for the planned implementation now only a long-term and no medium-term risk of a capital increase , it was said to justify . The current valuation of shares was reflected this reflects not. The paper increased by 3.8 % to 11.68 EUR . Commerzbank advanced by 1.5 % before to 6.42 EUR . The UBS had upgraded the stock to " Neutral "from "Sell . "
Car values sought
Well, it also looked at the automobile stocks, which attracted around 2.3%. Exane BNP recommended this Renault for sale. The company was one of overcoming the current weakness again moved a step nearer. A repositioning is form properly in the center of efforts have been made . Should also lead to further capacity adjustments in Western Europe to a better utilization rate of plants in the coming years. Together with a stronger cooperation with Nissan , this should improve the profitability , experts say . Renault rose 1.9% to 36.80 EUR . Daimler gained even added 2.3% to 45.50 EUR . The company is hopeful for the future development of the commercial vehicle sector.