EUROPE MARKETS: European Stocks End With Gains, Bouncing Back After Biggest Weekly Drop In A Year
2018年2月13日 - 2:24AM
Dow Jones News
By Victor Reklaitis, MarketWatch
Analyst: Rebound is 'a welcome respite after two weeks of sharp
falls'
European stocks finished higher Monday, erasing part of their
sizable monthly loss.
Analysts attributed the upbeat action in part to encouraging
action on Friday and Monday for U.S. equities, but noted global
markets remain down in a big way so far in February.
What are markets doing?
The Stoxx Europe 600 index climbed 1.2% to end at 372.93.
On Friday, the pan-European benchmark fell 1.5% and suffered its
lowest close since August. It also notched a weekly drop of 5%, its
biggest percentage fall since January 2016.
On Monday, Germany's DAX 30 index put on 1.5% to close at
12,282.77, while France's CAC 40 gained 1.2% to end at 5,140.06.
The U.K.'s FTSE 100
(http://www.marketwatch.com/story/ftse-100-rises-sharply-from-14-month-low-2018-02-12)
rose 1.2% to finish at 7,177.06.
Read:50-year Wall Street veteran says this sure feels like a
stock-market bottom
(http://www.marketwatch.com/story/50-year-wall-street-veteran-this-sure-feels-like-a-stock-market-bottom-2018-02-06)
And see:Here's how U.S. stocks typically perform in the
aftermath of a major rout
(http://www.marketwatch.com/story/heres-how-the-stock-market-typically-performs-in-the-aftermath-of-a-major-rout-2018-02-06)
The euro inched up to $1.2268 from $1.2252 late Friday in New
York.
Meanwhile, U.S. stocks were rising Monday
(http://www.marketwatch.com/story/us-stock-futures-climb-point-to-rebound-for-monday-2018-02-12),
adding to advances seen at the end of last week.
What are strategists saying?
"European markets look set to start the new week firmly on the
front foot, a welcome respite after two weeks of sharp falls,
helped by the strong rebound in U.S. markets on Friday that saw the
Dow and S&P 500 both rebound off their weekly lows," said
Michael Hewson, chief market analyst at CMC Markets UK, in a
note.
"Even though U.S. markets enjoyed a positive day on Friday, the
late rebound can't disguise the fact that U.S., as well as global
equities, have undergone their worst [two weeks] this decade," he
added.
What is driving the market?
European stocks have slumped this month as part of a wider
global market rout. Strategists have pinned the drop in part on the
need for a healthy correction after a runup, as well as on rising
bond yields amid signs of inflation, with the higher yields luring
money out of equities.
See:The Dow's down 10%? It's time for some buying, says longtime
bear Doug Kass
(http://www.marketwatch.com/story/the-dows-down-10-its-time-for-some-buying-says-longtime-bear-doug-kass-2018-02-09)
Also read:A U.K. rate rise in May? Analysts digest hawkish
surprise from BOE
(http://www.marketwatch.com/story/a-uk-rate-rise-in-may-analysts-digest-hawkish-surprise-from-boe-2018-02-08)
The Stoxx Europe 600 is down 5.7% so far in February, cutting
its gain over the past 12 months to 1.5%.
Which stocks are in focus?
TDC A/S shares (TDC.KO) jumped 13% for the Stoxx Europe 600's
biggest gain. The Danish telecom said its board may withdraw its
backing for TDC's push to buy Modern Times Group AB's (MTG-B.SK)
Nordic entertainment businesses, due to a takeover offer.
That was a shift from last week, when TDC rejected a joint
takeover bid from Australia's Macquarie and Danish pension funds,
saying it was upbeat on its "stand-alone prospects" as well as the
potential MTG deal
(http://www.marketwatch.com/story/danish-telecom-tdc-as-rejects-takeover-bid-2018-02-08).
On the downside, SES SA dived 11% for the Stoxx 600's largest
drop after the satellite operator said CEO Karim Michel Sabbagh is
stepping down
(https://www.businesswire.com/news/home/20180211005085/en/) "in
order to spend time with his family and to pursue new interests."
The company also said CFO Padraig McCarth plans to retire.
Airbus SE's stock (AIR.FR) fell 1.2% after the airplane maker
late Friday disclosed new problems with an engine for its A320neo
jet
(http://www.marketwatch.com/story/airbus-warns-of-new-pratt-whitney-engine-problem-2018-02-12).
"We expect this issue will result in delivery delays for
A320neos -- but, we do not know how significant yet," Bernstein
analysts said in a note, according to a Dow Jones Newswires
report.
Airbus also has signed a contract
(http://www.marketwatch.com/story/airbus-emirates-confirm-a380-deal-up-to-36-jets-2018-02-12)
with Emirates Airline for 20 A380 jets and an option for 16 more,
firming up an earlier memorandum of understanding.
Air France-KLM shares (AF.FR) fell 3.6% following news that
labor unions representing a majority of the airline operator's
employees plan to call a strike on Feb. 22
(http://www.marketwatch.com/story/air-frances-labor-unions-call-for-a-strike-afp-2018-02-12).
(END) Dow Jones Newswires
February 12, 2018 12:09 ET (17:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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