Positive signs show the European stock exchange markets on Tuesday’s morning trading and it seems that they recover partly after yesterday’s “shock” from S&P threat for the U.S. economy, while the “serial” of the debt crisis in Eurozone continues. To the positive climate also contribute the better than expectations results of large European companies. Analysts however believe that the deterioration of the outlook of the U.S. economy from the S&P is felt worldwide while the climate is subdued because of the Easter holidays.
At macro level, with the fastest pace in more than ten years accelerated the development of the private sector in France in April, according to preliminary results of the monthly survey of Markit. The composite PMI index in France was strengthened to 62.4 points in April from 59.1 points in March, which is the highest level since September 2000.
In the front of corporate results, SABMiller Plc., – a global brewer with names such as Grolsch, Peroni Nastro Azzuro and Miller Lite – announced growth of volume in the fourth quarter above expectations, due to the activities in Africa and Asia. Beer volumes – for the quarter ended March 31st rose by 3% on organic basis, excluding acquisitions and sales. Analysts had predicted an increase of 1.7%. This increase reflects the acceleration of growth of 2% over the same period last year and it is even compared to the 3% increase in the third quarter.
On the dashboard, the pan-European Stoxx 600 index is strengthened by 0.35% at 273.56 points, while the Stoxx 50 rises by 0.25%. In London the FTSE 100 index records gains of 0.61%. The German index DAX is reinforced at a rate of 0.54% while in Paris the CAC-40 moves upward by 0.56%.
Losses of 0.05% notes the IBEX in Spain, at a rate of 0.42% declines the Italian MIB, while the Swiss SMI moves up by 0.73% and in Portugal the PSI drops by 0.58%. Positive signs show the indices in Russia as the RTS is at +0.97% and the Micex is enhanced by 0.89%. In Turkey, the ISE index moves upwards by 1.50%.
