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European shares turned negative briefly rose on Thursday, as oil stocks fell despite solid profits from Royal Dutch, and as other results, such as those from Unilever failed to cheer investors. At 0916 GMT, the FTSEurofirst 300 index of leading European shares was up 0.6 percent at 902.59 points, having breifly turned negative, going as low as 892.12. Around Europe, France's CAC and London's FTSE are higher by 1% while Germany's DAX is up 3.4%. (Reuters)

Posted: 10/30/2008 8:34:55 AM by StockMarketFunding | with 0 comments


In Europe, mkts rose, snapping a five-day losing streak, as Volkswagen shot higher on short-covering, but losses in bank stocks took the edge off the market's early stellar gains...

In the UK, the FTSE rose 1.9%, as BP (BP) led heavyweight energy stocks higher after forecast-beating results and Vodafone (VOD) gained on a positive broker note. BP soared 5.4% after beating all forecasts and reporting a 148% rise in third-quarter replacement cost profits compared with the same period in 2007, to a record $10.0 billion thanks to higher oil prices. Banks trimmed earlier gains, after French bank Societe Generale slid 12.3% on market talk of exposure to a short squeeze situation in German auto group Volkswagen. HSBC (HBC) put on 2.3% and HBOS rose 12.5%. Vodafone soared 5.8% after JPMorgan said in a note that its analysis showed valuations were well supportive of its "overweight" stance in the mobile phone giant...

In Germany, the DAX jumped 11.3%, as Volkswagen extended yesterday's record gain, overshadowing concern a deteriorating economic environment will curb profits. Volkswagen, which became the world's biggest company by market value after Porsche announced plans to raise its stake in the carmaker, rallied as much as 93%...

In
France, the CAC rose 1.6%. Societe Generale tumbled 13% despite the co standing by its third-quarter profit forecast. In economic news, French consumer confidence dropped in October to match a record low on concern that the global economic slowdown will prompt companies from banks to carmakers to continue firing workers. A gauge of consumer sentiment fell to minus 47 from minus 44 in September. The reading matched the revised number for July, which was a record low. (Sources: Bloomberg, Reuters, DJ)
Posted: 10/28/2008 3:05:22 PM by StockMarketFunding | with 0 comments


European shares rose in early trade on Tuesday to break a five-day losing streak, helped by a surge in Volkswagen and sharp gains in heavyweight oil group BP after quarterly profits jumped. At 0955 GMT, the FTSEurofirst 300 index of leading European shares was up 2.1% at 833.00 points, and had been as high as 839.86. The index has lost 21.6% in October, hurt by a credit crisis and recession worries. Volkswagen was up 64%, following its 146% surge on Monday. Short sellers piled into the stock to sew up their speculative positions after Porsche bought up nearly all VW's remaining free float. BP rose 4.2% after it reported a 148% rise in third-quarter replacement cost profit, at $10.03 bln, boosted by higher oil prices. Around Europe, Germany's DAX is higher by 6.8%, London's FTSE is up 2.3% and France's CAC is higher by 1.8%. (Reuters)

Posted: 10/28/2008 8:40:41 AM by StockMarketFunding | with 0 comments


European shares slumped early on Monday, tracking big losses in Asia as intensified fears of a global recession hit banks and energy shares, while Volkswagen soared as Porsche raised its stake. By 0935 GMT the FTSEurofirst 300 index of top European shares was down 4.4% at 793.52 points, adding to Friday's decline of 4.9%. Asian shares extended losses on Monday, with Japan's Nikkei sliding 6.4% to its lowest close in 26 years, as central bank policy moves including a record rate cut in South Korea were not enough to allay fears of a global recession. Around Europe, Germany's DAX is lower by 3.8%, London's FTSE is down by 4.7% and France's CAC is off 6.4%. (Reuters)

Posted: 10/27/2008 8:05:39 AM by StockMarketFunding | with 0 comments


European shares slid 8.5 percent on Friday to mirror a tailspin in Asian stocks, as data suggesting Britain would enter a prolonged recession and torrent of woeful company results rattled jumpy investors. At 0937 GMT the pan-European FTSEurofirst 300 index was down 8.5% at 798.86 points, having hit its lowest since May 2003 at 796.94 points. Global stocks tumbled to a new five-year low on Friday and demand for the relative safety of government bonds and low-yielding currencies soared. The British economy shrank more than expected and for the first time in 16 years in the third quarter of 2008, official data showed on Friday. The figures will likely boost expectations that the Bank of England will cut interest rates by another 50 basis points next month as the economy looks like heading into its first recession since the early 1990s. Around Europe, Germany's DAX is off 8.8%, France's CAC is lower by 7.9% and London's FTSE is down 7.5%. (Reuters)

Posted: 10/24/2008 7:55:41 AM by StockMarketFunding | with 0 comments


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