Thread: PBfx daily European market report

European stocks ended a six-session losing streak helped by improved U.S. trade data and the rise of American stocks in Wall Street.

The Stoxx Europe 600 index took a gain of 1% to 271.76. The U.K.’s FTSE 100 index gained 0.82% and closed at 5,856.34. Germany's DAX jumped 1.4% to 7159.66, France's CAC 40 index rose 1.1% to 3878.65, and Swiss’ SSMI index rose 0.23% to 6,271.01.

On currency market, EURUSD dropped sharply after European Central Bank announced to leave its key rate stayed at 1.25%. GBPUSD also plunged after Bank of England took the same decision on its key rate and keeping it at 0.5%.

Meanwhile on commodity market, oil futures rose to one-week high as OPEC failed to agree on output quotas. On the other side, copper fell to one-week low as rising global interest rates may reduce the use of copper worldwide.

See full article at: http://profitbursier.ro/en/EUROPEAN-...-09,-2011.html

European stock markets enjoyed gains on Tuesday after China industrial production and U. S. retail sales data. These data helped to cool down worries on slowing global economy recovery.

National benchmark indexes rose in all of the 18 western European markets, except Iceland. The U.K.’s FTSE 100 rose 0.5%, France’s CAC 40 gained 1.5% and Germany’s DAX climbed 1.7%. The FTSE All-Share Index also rose 0.5% today, as did Ireland’s ISEQ Index.

On currency market, he U.S. dollar lost against a basket of major currencies as U.S. retail sales plunged less than forecast, reducing demand for haven assets.

Oil, gold and some other commodities also advanced today as the result of weaker U.S. dollar.


See full article at: http://profitbursier.ro/en/EUROPEAN-...14,-2011-.html
Radu Ciofu

Risk-on session for Europe and most financial markets. The reason for the improved sentiment were rumors of a bigger bail-out package for Greece.

However, I must caution on this positive trend. Greece will be bailed-out, but not yet. Also, i expect there is a trace of positive expectations from Wednesday's FED conference. Since most economic indicators coming from US are showing a slow-down, market will expect a reaction from FED. I think it is too early for a new commitment (QEx) but the market will hope nevertheless. I am not expecting more downturn until Wednesday.

See full article at: http://profitbursier.ro/en/PB-FX-report-17-june-11.html

Radu Ciofu

Prolonging story of Greek debts is shadowing financial markets, especially European markets. On Monday, European stocks dropped, with the Euro Stoxx 600 Index extending losses into an eighth week, as the region’s governments did not find agreement on a payment to save Greece from default.

The FTSE 100 was down 0.4% to 5,693.39. The index has slumped four consecutive weeks. The FTSE All-Share Index dropped 0.5% today, while Ireland’s ISEQ Index declined 0.2 percent. The CAC 40 Index was down 0.6% and DAX dropped 0.19% to 7,150.21.

The open of equities trading was postponed for an hour on bourses operated by NYSE Euronext in Paris, Amsterdam, Brussels, Luxembourg and Lisbon because of an unspecified computer glitch, the exchange operator said. Euronext fixed the breakdown and trading started at 10 a.m. Paris time.

On currency market, EURUSD finally pared its earlier drop at the close of European market. GBPUSD traded flat nearby Friday’s close. USDCHF showed similar movement and traded 0.8448 when European trading session ended.

Gold also traded sideways on Monday as market participants still “wait and see” on the development over the rescue effort on Greek debt. Meanwhile, oil dropped in the middle of uncertainty on global growth caused by the current situation on Greek debt case.


See full article at: http://profitbursier.ro/en/EUROPEAN-...-20,-2011.html

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Main market theme: Greek "tragedy"

Trading session started cautiously this week, but risk-appetite returned as Greek parliament is expected to be in favor of the austerity package. Voting will be later this week, but as usual markets will buy the rumor and sell the news. In general i expect a positive start this week. In terms of macroeconomic data this week is pretty thin. Only major event is Fridays' ISM form the US.

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