Low Trends in European Stocks Following Upsetting Data from Germany

Low Trends in European Stocks Following Upsetting Data from Germany
Low Trends in European Stocks Following Upsetting Data from Germany

Traders saw low trends in European stocks on Friday, consequent to the announcement of unsatisfactory business data from Germany, in an atmosphere of apprehension related to the financial climate in Cyprus. In the morning trading session in Europe, France’s CAC 40 decreased 0.46%, Germany’s DAX 30 fell 0.26%, whereas the EURO STOXX 50 moved back 0.39%. Details offered by the Ifo Institute for Economic Research stated that business climate index of Germany had decreased to a value of 106.7 from a position of 107.4, which disappointed predictions for an increase to 107.6.

In London, traders witnessed the FTSE 100 dropping 0.02%, with U.K. lenders monitoring their European counterparts in lesser trends. Stocks were generally lower, with shares in French lenders BNP Paribas and Societe Generale toppled 1.21% and 2.10% respectively, whereas Germany’s Deutsche Bank fell 0.09%. Shares in Barclays dropped 0.30% and HSBC Holdings decreased 0.61%, whereas Lloyds Banking and the Royal Bank of Scotland plunged 2.51% and 2.46% respectively. Mining giants BHP Billiton and Rio Tinto were also on the disadvantage, falling 0.83% and 0.84%, at the same time as copper producers Xstrata and Kazakhmys moved away 0.81% and 0.17% respectively.

In related news, equity markets indicated to a stable open, in the U.S. The Dow Jones Industrial Average futures directed to a 0.08% increase, the Nasdaq 100 futures pointed a 0.03% climb, whereas the S&P 500 futures indicated a 0.03% advance.

A look at the Asian markets revealed that the equities are following mixed trends at the current time. The Asian trading markets in Friday showed that the trends recorded by Japan’s Nikkei 225 are off 1.44%. The Shanghai Composite augmented 0.22%, whereas Hong Kong’s Hang Seng dropped 0.24%. S&P 500 futures were seen to be ahead 0.01%, whereas South Korea’s Kospi increased 0.08% and Singapore’s Straits Times Index dropped 0.08%.

New Zealand’s NZSE 50 climbed 0.10% a day following reports that the country held its gross domestic product increased 1.5% in the fourth quarter, facing expectations for a 0.9% climb. Australia’s S&P/ASX 200 advanced 0.2% as traders maintained their stand to prepare speculations that the Reserve Bank of Australia will not lessen rates during its meeting scheduled for early April.