World Economy: MARKETS EUROPE / recession in Spain and weak U.S. data load

Apr 30, 2012

MARKETS EUROPE / recession in Spain and weak U.S. data load

FTSE 100 Index 5738.00 -0.68%

EURO STOXX 50 2305.50 -1.77%

Ibex 7011.00 -1.89%

CAC 40 3212.80 -1.64%

SMI 6096.34 -0.33%

Dow 6761.19 -0.59%

FTSE 796.73 0.66%

MDAX 10828.20 -0.75%

Gold 1664.25 0.10%

EUR / USD 1.3231 -0.06%

EUR / CHF 1.2013 0.01%

EUR / GBP 0.8152 0.20%

EUR / JPY 105.5880 -0.70%

USD / CHF 0.9078 0.07%

USD / JPY 79.7700 -0.68%

AEX 308.30 -0.80%

Dow Jones Stoxx50 2417.50 -0.30%

The recession in Spain and weak economic data from the U.S. has pressed the European stock markets into the red. After the stock markets were the last area of conflict between a good company reporting season and unsettling news from the euro area, dragged hither and thither, on Monday lacked the positive news of the earnings season. Alone adidas surprised with good company results. While the broad Euro Stoxx 50 was down by 1.6 percent to 2306 points, the German DAX lost 0.6 percent.

Spain slips into recession

Once again, there was bad news from Spain. Although the local gross domestic product shrank by 0.3 percent over the previous quarter, slightly less than feared. At the same time but it was officially confirmed that the fourth largest economy in the euro area lies in a recession.

The data also underlined that Spain is still far from an economic recovery. The austerity of the state's growth slows, which makes the government more difficult to meet the ambitious targets to balance the budget. The returns of the Spanish government bonds were, however, hardly impressed and came back to the previous day even slightly. The common currency came under selling pressure in the short term could, however, recovered slightly in the course. Against the dollar, the euro is adopted, with courses at $ 1.3230 from the European business.

Disappointing regional purchasing managers' indices are casting dark shadows

Disappointing afternoon fell from the Purchasing Managers Index of the Chicago area. With 56.2 for April, he missed the forecast significantly from 60.9. While the employment component convinced disappointed orders. "Thus, the indications for the important ISM mixed," it said in the House of Helaba. On balance, probably on 1 May for the upcoming publication of the ISM index to yield slightly, but still significantly higher in the expansion zone.

Adidas sets record

For a La-Ola-wave in the trading rooms provided the adidas-business figures. The sporting goods company has beaten all expectations. Especially in China and Japan, it was for the group better than expected. And in Europe, where the rival Puma last reported a weak trend, climbing from adidas revenues. In addition, adidas has raised its forecast for the current year. The analyst said Bank of the Baader-affirm an "impressive start" in the year 2012 and its buy recommendation. The stock rose 5.3 percent to 63.00 euros, before the DAX stock traded at 63.75 euros at an all time high.

Situation in tense - Nokia sells gold plaque

When Nokia does not break the bad news. A possible sale of the luxury brand Vertu show how the Finns were struck, traders say. The "Financial Times" reported that the brand could be 200 million euros in Nokia's flush fund. Nokia Vertu was established in 1998 to enter the lucrative market for luxury mobile phones. The hand-made devices can reach prices of more than 200,000 British pounds sterling. The independently owned brand is due to the ongoing demand of wealthy clients, especially from Russia and the Gulf region to the more successful businesses in the Nokia group of companies. At the end of the day after Nokia reported 1 percent to 2.71 euros.

World Economy

MARKETS EUROPE / recession in Spain and weak U.S. data load

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