EUROPE MARKETS: European Markets Up Despite Latest Auto And Retail Woes
11 Enero 2019 - 04:13AM
Noticias Dow Jones
By Emily Horton
European markets were up on Friday after shrugging off the
latest round of negative headlines from the global auto and retail
sectors.
What did markets do?
The Stoxx Europe 600 gained 0.3% to 349.87 after finishing up
0.3% on Thursday; the European index has ended up four of the past
five trading days.
The U.K.'s FTSE 100 was the biggest regional gainer, adding 0.8%
to 6,997.80.
Germany's Dax 30 , France's CAC 40 and Italy's FTSE MIB Italy
all added around 0.3%.
The euro climbed to $1.1525 from $1.1500 late in New York on
Thursday, while the pound dropped to $1.2723 from $1.2749.
What is driving the markets?
(http://www.marketwatch.com/story/us-gains-312000-jobs-in-final-month-of-2018-soaring-above-wall-street-forecast-2019-01-04)Ford
Motor Co. (F) launched an overhaul of its European business on
Friday. It will include thousands of job cuts, plant closures and
the cancellation of low-profit models amid poor performance at the
global car maker, The Wall Street Journal reports
(https://www.wsj.com/articles/ford-announces-major-european-restructuring-11547117814).
At it is factory in Saarlouis, Germany, 1,600 jobs are on track
to be eliminated. Ford is also set to shut down its Ford Aquitaine
plant in Bordeaux, France. In the U.K., no decision has been made
over whether to close engine and component plants in Dagenham and
Bridgend.
Macy's Inc. (M) plunged 17%
(http://www.marketwatch.com/story/macys-stock-plunges-after-profit-and-sales-outlook-slashed-2019-01-10)on
Thursday after the department store chain slashed its sales
outlook. The news caused a ripple effect across the retail sector
(http://www.marketwatch.com/story/retailer-stocks-take-a-broad-beating-led-by-macys-record-plunge-2019-01-10)
following a number of other downbeat holiday-period sales
reports.
In the U.S., President Donald Trump is digging his heels in over
the partial government shutdown. White House officials are divided
over whether the president should declare a national state of
emergency to secure funding for his U.S./ Mexico border wall, the
Journal reports
(https://www.wsj.com/articles/white-house-looking-into-diverting-army-corps-funds-to-build-wall-11547161664).
Despite the shutdown, trade talks between China and the U.S. are
still progressing, with China's top trade officials expected to
visit the U.S. later this month
(http://www.marketwatch.com/story/chinas-top-trade-official-expected-to-visit-us-for-trade-talks-mnuchin-says-2019-01-10)for
more negotiations.
What stocks are active?
In health-care stocks, UDG Healthcare PLC (UDG.LN) dropped 7%
and Eurofins Scientific S.E. (ERF.FR) fell by 3%.
British housebuilding company Taylor Wimpey PLC (TW.LN) gained
3% and Persimmon PLC (PSN.LN) added just over 2%, after Taylor
Wimpey PLC's (TW.LN)strong results on Thursday
(http://www.marketwatch.com/story/taylor-wimpey-expects-one-off-charge-over-pensions-2019-01-09).
Cie. Financière Richemont SA (CFR.EB) gained 2% on the news that
it is revenues grew by 25% in the third-quarter to 3.92 billion
euros ($4.52 billion)
(http://www.marketwatch.com/story/richemont-revenue-up-despite-yellow-vest-headwind-2019-01-11),
delivering results in line with expectations despite headwinds in
some of its markets.
(http://www.marketwatch.com/story/richemont-revenue-up-despite-yellow-vest-headwind-2019-01-11)
(END) Dow Jones Newswires
January 11, 2019 04:58 ET (09:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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