European stocks market august 1 2012

European stocks market august 1 2012 : European stocks were mixed on Wednesday, as investors turned to the release of the Federal Reserve’s policy statement later in the day, while the European Central Bank’s policy meeting on Thursday also remained in focus.

During European afternoon trade, the EURO STOXX 50 eased up 0.08%, France’s CAC 40 climbed 0.64%, while Germany’s DAX 30 fell 0.22%.

Markets were jittery amid growing concerns that the ECB will disappoint expectations for bold steps to counter the debt crisis in the euro zone.

Expectations have been mounting that the ECB will announce measures to lower Spanish and Italian borrowing costs after the bank’s head Mario Draghi pledged last week to do whatever is necessary to preserve the euro.

Earlier in the day, German Bundesbank President Jens Weidmann said that governments had overestimated the ECB's capacities and placed too many demands on it.

Market participants were eyeing the outcome of the Fed’s policy setting meeting later in the day, after U.S. data on Tuesday tempered expectations for another round of quantitative easing measures.

Financial stocks remained mixed, as shares in France’s BNP Paribas jumped 1.82% and Societe Generale fell 0.17%, while German lender Deutsche Bank tumbled 1.09% after saying net income fell 46% in the second quarter.

The German bank also announced that it was sued over claims it manipulated the Yen Libor rate and the price of derivatives tied to the EUR/JPY benchmark.

Earlier in the day, Societe Generale said second-quarter profit fell 42%, missing analysts’ estimates, after the lender took write downs on its Russian unit and U.S. asset manager TCW Group.

Meanwhile, auto makers continued to lead losses, as shares in German group BMW plummeted 4.06% and Daimler dropped 1.79%, while French companies Renault and Peugeot retreated 1.01% and 1.58% respectively.

European stocks Market closed August 1 2012
European stocks were mixed on Wednesday, as investors turned to the release of the Federal Reserve’s policy statement later in the day, while the European Central Bank’s policy meeting on Thursday also remained in focus.

During European afternoon trade, the EURO STOXX 50 eased up 0.08%, France’s CAC 40 climbed 0.64%, while Germany’s DAX 30 fell 0.22%.

Markets were jittery amid growing concerns that the ECB will disappoint expectations for bold steps to counter the debt crisis in the euro zone.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: