FTSE and DAX grow up with the overall positive

FTSE and DAX go in confident plus

In brief: The green area has become a second home for the European indices today. Brokers are beginning to increase trading volumes in the stock market in Europe.

Stock trades in Europe on May 28 opened higher after the leading index for the U.S. market and Asia. USA markets closed a substantial increase in major stock indicators. The positive dynamics of quotations contributed declaration of the People’s Bank of China that Beijing will continue to invest in debt obligations of the euro zone, denying rumors circulated earlier by the restructuring of its gold reserves. In a statement leadership of the Chinese central bank indicated that the European market remains a key area of investment of the State foreign exchange control of China. These news continues to have a positive impact on share prices on European stock trading today.

For example, the Dow Jones index rose to 284.54 points (2.85%) – up to 10 258.99 points. Actively were traded and the Japanese trading platforms – Nikkei index rose by 1.28%. UK FTSE 100 rose 0.54% to 5 223.47 points, the German DAX – on 0,43% to 5 962.60 points, the French CAC 40 – on 0,30% to 3 535.98 points. Meanwhile, against this background that the second plan moved investors’ concerns about the debt of the euro area. Moreover, the favorable news from the commodity markets, where a rise in prices for metals, mining companies are pushing quotes up. In particular, shares of British-Australian Rio Tinto and BHP Billiton went up by 1% and 0.5% respectively, the paper Swiss Xstrata – on 0,6%, Anglo American – by 0,7%. Bad things are going and with European banks, whose shares are traded in positive territory today. Papers of British Lloyds Banking Group, Barclays and Royal Bank of Scotland went up by 0,2%, 1,8% and 0,9% respectively, the French Societe Generale, BNP Paribas and Credit Agricole – on 0,5%, 0,6% and 1% respectively. An impact on the trading session provide news about mergers and acquisitions. So, today it became known that the British-Dutch oil company Royal Dutch / Shell has approved a deal to buy subsidiaries of American energy company East Resources Inc., As well as most East Resources for 4.7 billion dollars. Against this backdrop, shares of energy giant fell in price by 0,8%. A similar pattern is observed, and quotes from other companies sector: France’s Total securities have fallen in price on 0,5%, the British BP, which continues to fight the diversion of oil in the Gulf of Mexico – by 2%.

Pavel Migin
2010-05-28 10:41, Economics.

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