Thursday, May 19, 2011

European Stocks market outlook may 20 2011

European Stocks market outlook may 20 2011 : European stock markets ended higher Thursday as Air France-KLM and Investec PLC posted solid financial results, while the banking sector gained as investor risk appetite grew. The Stoxx Europe 600 index rose 0.7% to close at 280, helped initially by a strong end to Wall Street's trading session Wednesday.

European markets trimmed gains, however, as U.S. stocks faltered in Thursday's session. Air France-KLM rose 1.9% after the airline said improving economic conditions led to an uptick in traffic and helped offset rising fuel costs. The results lifted shares of Ryanair Holdings PLC, up 1.3% in Dublin, and International Consolidated Airlines Group, up 2.1% in London.

Meanwhile, bank stocks gained across Europe. Societe Generale rose 0.6% in Paris and Barclays PLC rallied 2.5% in London. London's FTSE 100 index rose 0.5% to close at 5,955.99, with Investec PLC jumping 5.4% after the financial-services group reported a 22% jump in fiscal-year net profit. In energy, light-crude futures dipped below $100 a barrel after a string of disappointing U.S. data.

Oil producers held on to gains, however, with shares of BP PLC gaining 1.6% in London and Total SA rising 1.2% in Paris. The rise for Total, along with gains for banking stocks, helped push the French CAC 40 index to a 1.3% gain, ending at 4,027.74. In Germany, the DAX 30 index advanced 0.7% to close at 7,358.23. Siemens AG added 2.3% after being one of the hardest-hit stocks in the recent spate of profit-taking on German markets.
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