Wednesday, April 8, 2009

European markets are adjusted after gepa down in the morning

Open with gepom down in the morning after the decline in American and Asian sites, the Old World stock markets moderately adjusted in the course of bidding.

Market participants fear negative quarterly reports of leading companies. The season was opened on the eve of reporting. Companies Alcoa, the largest U.S. aluminum producer, reported a second consecutive quarterly loss against the backdrop of a sharp decline in the price of their products.

"Higher than expected losses following the closure of Alcoa Wall Street last night confirmed the fears of investors that the reporting period in the United States will be difficult for the market" - said Jimmy Yayts of CMC Markets.

In this regard, the sale of notes and the European industry:

ArcelorMittal -3.4%

Xstrata -4.6%

AngloAmerican -3.2%.

The negative dynamics of futures for oil as a catalyst for sales of securities of oil:

Total -1.7%

Royal Dutch Shell -1.8%

ENI -1.3%.

Serious pressure is the banking sector. Favorites growth the past few weeks, the shares of this sector have been leaders in reducing:

BNP Paribas -0.7%

Deutsche Bank -2.0%

HSBC -2.3%.

In general, as of 14:30 Moscow time the leading European stock indices lost in the closure Tuesday of about 1%:

FTSE100 -1.0% to 3890.0

DAX -0.9% to 4281.0

CAC40 -1.0% to 2874.0.

Prepared with input Reuters

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