Frankfurt leads Europe

Published: 14 December 1999 y., Tuesday

German stocks grabbed the spotlight in Europe Tuesday, powering the benchmark index to a lifetime high in early trade before trimming its gains in the afternoon. A mixed opening on Wall Street had little impact on late European trading. Frankfurt far outstripped lackluster performances from its continental neighbors, with an increase on the Xetra Dax of 1.5 percent, or 94 points, to 6,221.28. The index had peaked at 6,235.22 earlier in the session. London_s FTSE 100 scraped into the black, rising just 7 points at 6,710.7. In Paris the CAC 40 gained 25 points to 5,561.49, having earlier set a new record of 5,587.67, while in Zurich the SMI was up 18 points at 7,310.8. The FTSE Eurotop 300, a broader measure of European stocks, gained 0.7 percent, led by transport and electrical stocks. Evidence of tame inflation in the United States in Tuesday_s report on November consumer prices failed to excite European investors. In Frankfurt, electrical giant Siemens (FSIE) drove the Dax higher after it reported improved prospects for chip pricing. The company plans to spin off its semiconductors unit Infineon. Siemens rose 4 percent to 117.35 euros. Other tech stocks rose in sympathy, with French microchip maker STMicroelectronics (PSGS) gaining 4 percent in Paris. Also on the move in Germany were telecom stocks Deutsche Telekom (FDTE), up almost 3 percent, and Mannesmann (FMMN), which rose 2.5 percent. In London the transport and financial sectors caught the eye in an otherwise dull session. Hopes that a much-publicized government plan to revamp the U.K._s transport system would have little impact on private rail firms_ profits brought relief to rail infrastructure operator Railtrack (RTK). Dealers speculated the train regulator_s review later this week will not be too onerous for the company_s earnings. The stock soared 10 percent, and was pursued higher by shipping and logistics firm P&O (PO-) and British Airways (BAY). National Westminster (NWB), the subject of competing bids from Bank of Scotland (BSCT) and Royal Bank of Scotland (RBOS), rose 3 percent, while the rival bidders were both some 2 percent higher.
Šaltinis: CNN
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

EBRD and CIB Bank boost financing to businesses in Hungary

The EBRD is increasing the availability of financing to the real economy in Hungary, with a €50 million credit line to CIB Bank, including at least €10 million equivalent denominated in Hungarian Forint. more »

Bank SNORAS deposit portfolio exceeded LTL 5 billion

At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits. more »

Outstanding Development Results Gain Vietnam Additional Support

In affirmation of Vietnam’s remarkable progress towards Middle Income Country status, the World Bank Board of Directors today approved a second loan for Vietnam from the International Bank of Reconstruction and Development (IBRD). more »

World Bank Loan to Help Improve Efficiency of the Croatian Justice System

The World Bank today approved a EUR26 million loan to the Republic of Croatia aimed at further improving the efficiency of Croatia’s justice system − a necessary process in Croatia’s path towards successful European Union accession. more »

ACP-EU Assembly calls for support to banana producers and strengthening of sanctions against Madagascar

The ACP-EU Joint Parliamentary Assembly asked the European Commission to help EU and ACP banana producers adapt to the new EU-Latin America trade agreement, which is expected to put an end to fifteen years of “banana wars” between the two continents, but has raised concerns for the livelihood of some regions' producers. more »

“Africa’s Golden Moment Has Come,” Says World Bank Vice President for Africa

As seventeen of Africa’s 53 nations celebrate 50 years of independence in 2010, Africa’s “golden moment has come” and investors around the globe must look to the continent often painted only as risk-prone if they are to capitalize on business opportunities. more »

The approval of AB Bank SNORAS profit distribution

During the ordinary general shareholders’ meeting of AB Bank SNORAS, which took place on 31st March 2010, the bank’s profit distribution was approved. more »

Out of the crisis: a "real" economy and world governance system

The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis. more »

Giancarlo Scottà on food quality and country origin labels

Food quality and labelling are likely to be key issues when the Common Agriculture Policy is overhauled in the coming years. more »

EIB supports Russia’s power generation sector with EUR 250 million to contribute to energy efficiency and emission reduction

The European Investment Bank (EIB) is lending EUR 250 million to Russian company Enel OGK-5 to finance the upgrading of a gas fired power plant located in Nevinnomyssk, South Russia. more »