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European Markets Fall Amid Weak Earnings
[April 17, 2014]

European Markets Fall Amid Weak Earnings


(Alliance News Via Acquire Media NewsEdge) PARIS (Alliance News) - The European markets are in negative territory on Thursday, ahead of reports on weekly jobless claims and Philadelphia-area manufacturing activity from the world's largest economy. Sentiment was impacted by some earnings news, following the rally in the previous session.



Demand for new passenger cars in the EU increased for the seventh consecutive month in March, the European Automobile Manufacturers Association reported. Car sales surged 10.6% in March from last year versus 8% rise in February.

The Euro Stoxx 50 index of eurozone bluechip stocks is losing 0.49%, while the Stoxx Europe 50 index, which includes some major UK companies, is falling 0.58%.


The German DAX is declining 1.47%. The French CAC 40 is falling 0.26%, the UK's FTSE 100 is losing 0.21% and Switzerland's SMI are dropping 0.25%.

In Frankfurt, RWE is declining 5.4% and Adidas is losing 2.7%.

Business software maker SAP is declining 3% after reporting quarterly results.

Suedzucker is losing 1.7% after the firm was cut to ''Sell'' from ''Hold'' at Berenberg.

In Paris, Rémy Cointreau reported lower sales for the year. The stock is losing 3%. Pernod-Ricard is falling 3.3%.

Veolia Environnement, Loreal and Kering are notably lower.

Publicis Groupe is gaining 2.2%. The company reported growth in first-quarter revenue.

In London, Babcock International is plunging 12%. The company announced the admission to trading of 139.26 million new ordinary shares of 60 pence each.

Diageo is declining 4%. The drinks maker reported a fall in organic sales for the third quarter, hurt by weakness in the emerging markets.

RSA Insurance is gaining around 3% after announcing some disposals.

Akzo Nobel is declining 6.2% in Amsterdam. The firm reported lower revenues amid adverse currency.

The Asian stocks ended mostly higher, following reassuring comments from the Federal Reserve chief. Gains, however, were modest on growing concerns about military activity in Ukraine and amid caution ahead of a long weekend.

In the US, futures point to a lower open on Wall Street. In the previous session, stocks extended gains for a third session as investors digested dovish remarks from Fed Chair Yellen. The Dow gained a percent, the tech-heavy Nasdaq advanced 1.3% and the S&P 500 added 1.1%.

Crude for May delivery is gaining USD0.17 to USD103.93 per barrel, while gold is falling USD5.3 to USD1298.2 a troy ounce.

Copyright RTT News/dpa-AFX

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