Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

EUROPE MARKETS: Europe Stocks Fall On FOMC Minutes, PMIs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/21/2013 | 10:02am CET

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- European stock markets staged broad-based losses on Thursday, after minutes from the U.S. Federal Reserve's latest meeting illustrated different views over the bank's monetary-easing program and French manufacturing data disappointed.

The Stoxx Europe 600 index lost 1.1% to 286.86, with banks and mining firms posting some of the biggest declines.

Shares of heavyweight miner BHP Billiton PLC (>> BHP Billiton Limited) shaved off 2.9%, after Citigroup cut the firm to neutral from buy, saying that positive catalysts such as capital-expenditure cuts and cost reductions are now priced in.

Shares of AXA SA gave up 3.7%, as the insurance firm reported a drop in 2012 profit.

Investors further trained their attention on the U.S., where minutes from the Federal Open Market Committee's January meeting released late Wednesday showed some members expressed concerns about the $85 billion monthly asset purchases. Several members said the central bank should prepare to vary the pace of the quantitative-easing plan depending on the outlook.

Back in Europe, preliminary readings of purchasing managers' indexes from the major economies stole the limelight. The manufacturing PMI for Germany rose to 50.1, a 12-month high, while the same reading for France climbed to 43.6, marking a 2-month high. The French reading, however, missed expectations. A reading above 50 indicates expansion.

Germany's DAX 30 index sank 1.5% to 7,610.84, with Deutsche Bank AG (>> Deutsche Bank AG (USA)) down 3.7% and Commerzbank AG off 3.2%.

In France, Société Générale SA dropped 2.6%. The CAC 40 index erased 1.5% to 3,653.12.

U.K.'s FTSE 100 index lost 1.3% to 6,310.09. Shares of HSBC Holdings PLC (>> HSBC Holdings plc) lost 1.7%.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
11:24p F N B : meets 4Q profit forecasts
11:23p UPDATE2 : Commerce pick urges Toyota, others to build more plants in U.S.
11:23p PFIZER : How to improve your sex drive without breaking the bank
11:23p LENDINGCLUB CORP : Regulation FD Disclosure (form 8-K)
11:22p CLARCOR INC. : Other Events (form 8-K)
11:22pDJADRs End Lower; Pearson Plummets
11:21p Business euphoria over Trump gives way to caution, uncertainty
11:21p KARMIN EXPLORATION : Announces Private Placement Financing Of Up To CDN$3.8 Million
11:21p IRC : Announcements and Notices - Fourth Quarter Trading Update for the Three Months Ended 31 December 2016
11:21p ANNOUNCEMENTS AND NOTICES - K&S : 200,000 tonnes of Iron Ore Concentrates Sold, Capitalising on the Stronger Price Market
Latest news
Advertisement
Hot News 
-29.08%PEARSON : Warns of Lower Profit, Dividends on Weak U.S. Trading
-5.77%Target cuts earnings forecast due to weak holiday sales
-4.72%MITIE : Outsourcer Mitie announces new finance chief as it issues another profit warning
3.94%J D WETHERSPOON : JD Wetherspoon sees higher costs, lower sales
6.73%European shares retreat as Pearson plummets
Most Read News
04:07p Stocks, dollar steady; investors eye earnings, U.S. policy
04:16aDJNEWS HIGHLIGHTS : Top Energy News of the Day
06:15a GOLDMAN SACHS : Finance industry's "worst case" on Brexit spurs contingency plans
01:16a SAMSUNG ELECTRONICS : chief questioned behind closed doors in arrest warrant hearing
04:54p JPMORGAN CHASE : hit with government lawsuit for pay discrimination
Most recommended articles
01/17DJS&P 500, Nasdaq Futures -- Technical Analysis
05:15p Cameco plunge leads TSX lower, energy also weighs
05:15pDJCANADIAN PACIFIC RAILWAY : CEO Hunter Harrison Leaving Early
05:12pDJCrude Prices Fall on Dollar, U.S. Shale Output
05:10p Stocks, U.S. dollar, bond yields rise after Yellen comments