U.S. labor market sparked only straw fire

The investors have the U.S. labor market data are not permanently nice talk. As on Wall Street first began to erode profits, followed by the European indices. The Dax fell car companies with strong gains on.
The Dax closed up 0.8% lighter at 3666 meters. He thus fell to its lowest level since August 2004. On a weekly view of the German benchmark index lost 4.6% On. The Stoxx 50 fell by 1.3%, while in Paris the CAC 40 lost 1.4%. The London FTSE 100 dropped to levels from the previous day’s trading.

The investors had decided in the ongoing slump in the U.S. labor market than less bad than expected to welcome – a lasting success of this experiment was not accepted: Losses on Wall Street made a dash through the bill. They sat down, after initial gains, finally, a different interpretation of the data.

Unemployment rose in the U.S. is at its highest level in more than 25 years. The unemployment rate reached 8.1% and is as high as at the end of 1983. Since the beginning of the recession, fell 4.4 million jobs gone. “So, the fall from a cliff,” said Lawrence Mishel, president of the Economic Policy Institute. The absolute number of job losses in February, however, was somewhat lower than expected – this was the value for the previous month, significantly revised upwards.

Investors interested in the development of the labor market, since it crucial for consumer spending which in turn are roughly two-thirds of economic output in the U.S. total. “Sign of a turnaround for the better does not exist. So the environment for the U.S. consumer is extremely difficult,” write the analysts at Helaba in a short commentary.

Car makers in the spotlight of investors
At the top were the Dax shares of BMW, which is 2.7% more expensive. Daimler fell behind with an increase of 2.2% from the market. The automaker sold worldwide in February 25% less car brand group’s Mercedes-Benz cars than a year earlier. MAN advanced by 1.3% before. On Thursday was news about the slump in orders at the truck market, the two titles still charged.
The shares of Postbank continued their descent, however, continued unabated and without quoted price-sensitive news with a minus of 3.8%, far behind.

Across Europe, the sell-off of the banks too. The shares of BNP Paribas declined 5.4% after. On Friday, the deadline for the negotiations on the dismantling of Fortis Holding AB. In February, the shareholders in Belgium against the splitting up of the financial group voted, and thus the expansion plans of the French bank hampers. BNP wanted a majority stake in Fortis Bank. Société Générale and Unicredit lost 10.4 and 6.6% a. The analysts at UBS had the price target for the Italian bank, concerned about adequate capitalization almost halved.

Oil companies profiting from the oil price

Sought were Ölwerte. Total and Royal Dutch Shell advanced 1.2 to 3.2% before. The U.S. WTI expensive varieties occasionally by more than 2% per barrel (159 liters), the locations of Brent North Sea was around 1.5% in Plus. Support was the price of oil analysts that the decline in U.S. crude stocks and speculation on a further production cut by OPEC in March.

Weak targets from the U.S. also depressed the stock markets in the Far East on the weekly fade into predominantly negative. The Nikkei in Tokyo lost 3.5% to 7173 meters, and thus quoted as low as four months, not more. The Topix lost 2.7% to 721 points, the lowest level for 25 years. “The concerns about the state of financial markets in the Americas and Europe back broken,” said a dealer in Tokyo. Even the stock exchanges in Hong Kong, Singapore, Shanghai and Korea were after. The Taiwan stock market closed 0.4% in contrast Plus.

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