European stock markets opened decline
December 23, 2008 – 2:13 amEuropean stock markets on Tuesday November 25, opened the decline led by commodity stocks and insurance companies against a backdrop of corporate news.
the world’s largest mining company BHP Billiton refused to buy rival Rio Tinto Group, referring to the reducing the demand for strict conditions for antitrust approval of the transaction by the European Commission. Against this backdrop, shares of BHP Billiton PLC dorozhayut at 8.67%, the paper Rio Tinto PLC desheveyut by 38%. Share prices of other leading industry players also declining: Xstrata PLC (-7,05%), Lonmin Plc (-5,62%). At the same time
also negative for stocks of commodity companies affected by declining oil prices:, Royal Dutch Shell PLC (-2,34%), BP PLC (-1,61%). By 12:00 Moscow time January futures for oil brands WTI fell by $1.45 to $53.05 a barrel mark Brent – at $1.65 up to 52.28 per barrel.
11% collapsed shares of Europe’s largest insurer Axa SA, reduced the forecast annual profit before 3,6-4 billion euros. Also desheveyut shares the second-largest reinsurer in the world, Swiss Reinsurance Co (-2,3%), as analysts from JPMorgan Chase & Co lowered the recommendation on the shares to “buy” to “hold”.
Cnizhayutsya in the price of shares of the largest manufacturer of television sets in Europe, Philips Electronics NV (-2,8%), as analysts from the Royal Bank of Scotland Group Plc lowered its forecast for the company’s shares immediately with a “buy” to “sell”.
On the other hand against the backdrop of the U.S. government podderzhkb second-largest U.S. bank Citigroup Inc dorozhayut shares of European financial institutions: HSBC Holdings PLC (+0,58%), Standard Chartered PLC (+1,24%), Royal Bank of Scotland Group PLC (+2,36%), Barclays PLC (+3,14%), Deutsche Bank AG (+0,78 %).
Against this backdrop of 13:36 Moscow time the British FTSE 100 index falls at 1.18% to 4103.86 point, the French CAC 40 – at 0.95% to 3142.08 point, the German DAX – at 1.33% to 4493.67 point, pan-DJ EURO STOXX 50 – at 1.51 % To 2344.27 point.
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