French equities inch up; Greek uncertainty caps gains

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Source: Dukascopy Bank SA
© Scanpix/AFP
French equities advanced on upbeat German Ifo business climate index. Moreover, recent positive manufacturing and services PMI readings continued to support French stocks. At the same time, lingering concerns over Greece's bailout weighted down on French equities. The CAC Index climbed 0.05% and is currently trading at 3,499.80. Three in ten sectors included in the index rose. The top-performers were basic materials and utilities. Air Liquide, Arcelormittal and Lafarge gained 0.27%, 0.26% and 1.57%, respectively. Among utilities, GDF Suez and Veolia Environnement jumped 0.24% and 0.21%. On the downside were telecommunications as well as oil and gas firms. France Telecom and Vivendi dropped 1.94% and 0.24%, while Total shed 0.05%. Meanwhile, Carrefour sagged 1.43% after Nomura downgraded its outlook on the European retailing sector to neutral, citing spreading economic crisis in the region.


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Fri, 23 Nov 2012 17:41:12 GMT

The Pound strengthens on improved mortgage loans

The Pound appreciated against the greenback as recent data showed mortgage approvals advanced to their highest level in nine months in October. The Sterling dropped to its lowest level earlier this month on the eurogroup's meeting. The currency rose 0.6% to $1.6030, after earlier peaking at $ 1.6035 and stayed little changed at 80.87 pence per Euro.

Fri, 23 Nov 2012 14:02:03 GMT

German shares flat after upbeat business climate data

German shares retreated despite positive business climate data. The Ifo Institute for Economic Research reported that its German business climate index advanced to 101.4 in October from 100.0 in September. Experts predicted the index to drop to 99.5 last month. German blue chips remained under notable pressure as market players were cautious over Greek bailout talks due to be resumed

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