European markets slow down with car industry

Tuesday, 17. May 2016 17:54

Stock markets in Europe traded mostly with losses on Tuesday, with automotive industry slowing down the indexes, while the media companies recovered from the last week's losses. A mix of economic data also influenced the trade. Euro area international trade in goods saw a surplus of €28.6 billion in April.

The pan-European Stoxx Europe 600 closed down 0.12%, while the Euronext 100 dropped 0.51% by the closing time.

In France, the CAC 40 lost 0.54% and closed at 4,289 points. Automotive and related industry companies were leading decliners: Peugeot down 3.77%, Michelin fell 3.48% and Renault dropped 2.70%. Vivendi added 1.17% and Publicis rose 1.03%.

In Germany, the DAX index finished 0.63% lower at 9,890 points. RWE dropped 4.37%, and other decliners were from automotive sector: Continental fell 3.52%, BMW followed down 3.00%, Volkswagen dropped 2.67% and Daimler lost 1.84%. ThyssenKrupp added 1.47%, and ProSiebenSat.1 climbed up 0.27%.

The FTSE 100 rose 0.15% to close at 6,160 points. British consumer prices rise 0.3% year over year in April. Asthead Group rose 5.85% and Taylor Wimpey added 4.71%. Inmarsat inclined 4.07%, and ITV advanced 0.93%. Associated British Foods fell 2.33%, TUI dropped 2.28% and Unilever lost 1.79%.

In Milan, the FTSE MIB fell 1.52% to close at 17,478 points. The country saw a good trade balance surplus both within the EU and internationally. Fiat Chrysler Automobiles plunged 6.67%, and Banco Popolare followed down 6.56%. Mediaset rose 3.02%.

The Swiss Market Index finished 0.24% lower at 7,906 points. Producer and import prices sank 2.4% on the year in April. UBS fell 2.68%, Swatch dropped 1.74%, Syngenta slid 0.79%. Julius Baer added 2.38% and Swiss Re climbed up 1.23%

The euro was 0.44% weaker against the British pound, and just 0.01% down to the Swiss franc. The currency added 0.16% against the U.S. dollar and the Japanese yen alike, by 5:50 p.m. CET.

Widely traded oil benchmark Brent rose 065% to $49.46 a barrel and WTI rose 0.72% to 48.98 a barrel at ICE Europe by 5:42 p.m. CET.

Gold added 0.39% to $1,279.24 per troy ounce.

 

Image: EPA

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Breaking the News / ZR