Europe: in the absence of trading in the UK bulls are bored

 

Monday, August 31, the major stock indexes in the European region have completed the session in negative territory. Decadent mood at this time were associated with adverse outcomes of today's trading in Asia, where most of the indexes went into negative against the backdrop of bad reporting by Chinese companies and the strengthening of the Japanese yen. Another factor was that the regional index Dow Jones 600 was trading at maximum from 2003 levels, which has raised fears among investors regarding the many overbought market.

As a result of trading French CAC 40 index retreated 1.07%, German DAX fell by 0.96%, and the Spanish IBEX 35 fell by 0.68%. Regional index Dow Stoxx 600 has become easier to 0,66% and closed at the level of 235.95 points. An exception to the overall positive dynamics was the only market in Switzerland. Bidding in the UK are not held in honor of the national bank holiday.

Shares steel companies in Europe subsided after China's largest steel producer Baoshan Iron Steel has reported about 93% of Mr. profit declines in first half, which amounted to 669 million yuan ($ 98 million). As a result, quotes ThyssenKrupp and Salzgitter competitor fell 2,55% and 2,46% respectively.

Papers of the German automakers BMW and Daimler fell 0,94% and 1,28% respectively. In the Wall Street Journal it was reported that according to surveys by consulting firm Roland Berger, car sales in Germany will decline next year by 20%.

Amid concerns over the fact that the Irish government could reduce the amount of initial payments to banks on their buy-back program loans totaling 90 billion euros ($ 129 billion), shares of Allied Irish Banks were closed in the red at 4.91%. Following them, stepped and paper Banca Monte dei Paschi di Siena, losing 1.3% of market capitalization.

Quotes of the Italian bank Banco Popolare slipped to 1.75% after it reported second quarter loss of $ 14.4 million euros compared with a profit of 131 million euros a year earlier.

The market value of securities in Europe's largest postal service Deutsche Post declined by 1.92% against a background of lowering of recommendations for its stock analysts Commerzbank.

The world's largest cosmetics maker L'Oreal retreated to 1.19%. Analysts ING Groep lowered rating on the securities L'Oreal to hold to sell.

Quotes of Europe's largest media company Bertelsmann declined by 0.36% after it reported back on the loss in the first half of 368 million euros compared with a net profit of 284 million euros a year earlier.

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