Sep 29 2011
The vote of the Bundestag takes stock exchanges in the euro area
The stock markets in the euro area settle in the green Thursday at midday, driven by financial stocks boosted by a voting majority in the margin of the German Parliament the reform of financial stability in Europe.
However, progress is limited. If the ratification of strengthening the powers of EFSF (European Financial Stability Fund) is acquired in Germany, this vote does not dispel the differences that oppose European leaders on how to deal effectively with the debt crisis in the euro area, report professionals.
Around 12:20, the CAC 40 index, which made the yo-yo in early trading, rises above 3000 points.The index gained 0.84% to 3020.70 points and 3033.38 and 2974.98 changes between.
The euro also benefits the vote in the Bundestag and is trading around 1.3642 dollars against 1.3536 late Wednesday.
In Paris, BNP Paribas (6.27%), Societe Generale (4.67%) and Credit Agricole (3.75%) are leading the CAC 40 increases as the Stoxx Banks (+ 1.92%) is the leading sector gains in Europe.
L'Oreal (-1.48%) shows the largest drop in the Paris index, weighed down by the statements of Reuters Clarins boss who said he is worried about the economy in Europe this year and next year .
"These comments (Clarins) are negative for L'Oreal, which makes 40% of its sales in Europe," said one trader.
Exchanges of Frankfurt and Milan won respectively 0.57% and 1.28%.EuroStoxx 50 index of the core values of the euro area is 0.96%. Outside the eurozone, London yields 0.31%
"We continue to believe that the news of recent days are not particularly encouraging. We are seeing some convergence between the political leaders of the EMU (Economic and Monetary Union)," say the strategists rate of Societe Generale in their daily note .
The performance of the German government bond (Bund) is relaxed to 10 years by 1.0 basis points to 1.97%.
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