May 23, 2008
European markets,
In the wake of other European markets, the Paris stock exchange closed Friday down 1.89% at 4.933,77 points, the price of oil have weighed heavily on financial markets of the Old Continent, which also unpopular deceleration sharper-than-expected activity in services in the euro zone.
The pan-European Eurofirst 300 index lost 3% on the week, its worst performance since early March.
In Paris, the CAC 40 ended down 1.89% at 4.933,77 points. The market has misunderstood hosted the failure of household consumption french, which was confirmed in April.
On the week the index in Paris lost 2.84%.
The Europe's stock exchanges have increased their losses in the afternoon, the negative direction of Wall Street feeding the pessimism.
"The markets are shaken by the rise in daily oil prices, which has become unbearable. This is a real threat to growth and a big problem for inflation," commented Jean-Claude Petit, Barclays Wealth Managers France. However, "this week looks more like a healthy correction after weeks of gains and there is no reason why the indices fall further next week."
EADS (-4.36%) registered the second largest decline of the CAC 40 after the vote the U.S. House of Representatives of a military budget with a series of objections on certain credit facilities provided by the House Blanche and the opening of an investigation into the impact of foreign subsidies in the allocation EADS ally in the U.S. Northrop Contract 35 billion dollars of new tanker aircraft to fly the U.S. Air Force.
Louis Gallois, CEO of EADS, has raised a delay of three to four months of deliveries of the aircraft very jumbo jet Airbus A380.
Gaz de France has lost a lost 3.3%. The group assured have many competitors in the market french natural gas after the opening by the European Commission a thorough investigation to determine if the group was abusing its dominant position. .
In addition, the Tribunal de Grande Instance in Paris dismissed the CGT secretary of the Central Committee of enterprise (CCE) GDF its request to postpone the CEC, scheduled Monday and which must give its opinion on the proposed merger with Suez.
The latter has sold its 3.08% later. The group said to have terminated the discussions under way on a possible offer on British Energy, explaining that the UK rules regarding takeover prevent these talks to resume before the completion of its merger with GDF
by erectusplus at 10:27 AM |
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