By Herbert Rude
LONDON (Dow Jones) – On the European stock markets prices rose on Tuesday a little, but were significantly lower than the daily highs from the market. The DAX gained 0.4 percent to 11,940 points, and the Euro Stoxx 50 gained a point. This owed his narrow Plus especially the technology stocks. After good results of several technology companies in the Stoxx technology index gained 2.6 percent. SAP rose after its quarterly results, the highest level since the bursting of the technology bubble in March 2000, in the end they traded 2.3 percent higher at 68.94 euros.
In the morning the price gains in the overall market were much stronger, but then fused with the Greek crisis there. With the financial problems of Athens and speculation about a possible exit from the euro yields two-year Greek bonds rose to almost 30 percent. Among them were suffering the bank shares. The rates of the Greek institutions indicated from up to almost 10 percent. The banking index of the euro zone lost 0.7 percent. Unicredit fell by 1.9 percent and 1.4 percent Commerzbank. And in Switzerland, the shares of Credit Suisse lost 2.0 percent. Although the investment banking had a positive surprise in the first quarter, retail banking and asset management would not mind the expectations missed, it was said to number identification of the bank.
In the negative were also European indices of the mining and oil and gas title after they had comparatively well in the past few days. Rio Tinto lost 2.2 percent after weak figures.
On the other hand, the index of pharmaceutical stocks rose in the pan-European Stoxx index by 1.1 percent. The bid by Teva for Mylan heats the takeover speculation in the pharmaceutical industry to grow. “Although the price has already risen sharply with the speculation Teva creates another 20 percent of it,” said one trader. Because of possible high tax and cost reductions that was probably justified. In MDAX Stada increased by 2.1 percent.
At the head of the German MDAX, however, were Osram with an increase of 5.9 percent. With 51.23 euros they reached on a closing basis, a new record. Osram wants to outsource the classic bulbs business – and, as a trader said, “his problem child”.
With regard to SAP DZ Bank spoke of solid figures. In particular, growth in the cloud business is highly unusual. With 509 million euros, sales were above the consensus expectation of 480 million euros, said analyst Harald Schnitzer. Strong sales outweigh the weak surplus. Although SAP growth in cloud business bought more lower-margin, but experts believe that the cloud business in the medium term strengthen profitability.
The Software AG shares rose by 3.8 percent. On the stock market has been referred to the submission of the quarterly figures from IBM. According to analysts at Bryan Garnier range of software at IBM with a decrease of 2 percent not shrunk so much as feared. This it a positive sign for other software vendors such as SAP and Software AG.
Well went the first quarter at L’Oreal. The company was as expected benefits from the weaker euro, so Jefferies analyst Alex Howson. It therefore increases the profit estimate. The shares gained 0.5 percent.
Index closing development development development was absolute in% since the start of Euro Stoxx 50 3719.38 +1.34 + 0.0% + 18.2% Stoxx 50 +7 3544.41, 06 + 0.2% + 18.0% Stoxx 600 409.12 +2.25 + 0.6% + 19.4% XETRA DAX 11,939.58 +47.67 + 0.4% 21.8 % FTSE 100 7,062.93 +10.80 London + 0.2% + 7.6% CAC 40 Paris 5192.64 +5.05 + 0.1% + 21.5% AEX Amsterdam 503.81 +3 , 08 + 0.6% + 18.7% ATHEX-20 Athens 208.31 -5.88 -2.7% -21.4% BEL-20 Brussels 3828.36 +2.08 + 0.1% + 16.5% BUX Budapest 21,903.37 +260.65 + 1.2% + 31.7% OMXH-25 Helsinki 3619.94 +51.85 + 1.5% + 21.1% ISE NAT. 30 Istanbul 102,889.41 +2532.50 + 2.5% -3.1% OMXC-20 Copenhagen 1001.67 +20.00 + 2.0% + 34.6% PSI 20 Lisbon 6041.56 +33.66 + 0.6% + 26.6% IBEX 35 Madrid 11,422.30 +37.70 + 0.3% + 11.1% FTSE MIB Milan 23240.26 -92.72% -0.4 +22, 2% RTS Moscow 1007.69 +11.99 + 1.2% + 27.4% OBX Oslo 594.18 +3.53 + 0.6% + 13.5% PX Prague 1056.79 +5.32 + 0.5% + 11.6% OMX STO-30 Stockholm 1694.73 +16.44 + 1.0% + 15.7% WIG 20 Warsaw 2509.50 +4.16 + 0.2% + 8.4 % ATX Vienna 2632.26 +23.96 + 0.9% + 21.9% SMI Zuerich 9299.43 +55.72 + 0.6% + 3.5% CURRENCY last +/-% Tue, Clock 8.38 Mo , 18.26 clock EUR / USD 1.0757 0.43% 1.0711 1.0764 EUR / JPY 128.56 0.48 127.94% 128.42 EUR / CHF 1.0245 1.0260 -0.15% 1 , 0276 USD / JPY 119.50 0.03 119.46% 119.32 GBP / USD 1.4957 1.4882 1.4911 0.50% Contact the author herbert.rude@wsj.com DJG / hru / cln
(END) Dow Jones Newswires
April 21, 2015 12:18 ET (16:18 GMT)
Copyright (c) 2015 Dow Jones & amp; Company, Inc.
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