Trade The News | Apr 03, 2013 07:10AM ET
SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM
Equities
Indices: FTSE 100 -0.40% at 6,466, DAX -0.10% at 7,933, CAC-40 -0.20% at 3,798, IBEX-35 -0.40% at 8,017, FTSE MIB -0.60% at 15,469, SMI +0.40% at 7,928, S&P 500 Futures +0.20% at 1,567
Following the gains seen on Tuesday's session, European equity markets are mostly lower, led by declines on the Spanish IBEX-35 and Italian FTSE-MIB. European banks are mostly lower by RBS, Santander and UniCredit. Additionally, Greek banks are lower by over 5% on continued concerns related to their capital plans and exposures to Cyprus. Resource related companies are broadly lower, in line with the declines being seen for commodity prices. Overall traders are continuing to await events due later in the week, including rate decisions by the BoJ, ECB and BoE. Additionally, the government formation process in Italy remains in focus.
UK movers [Thorntons +6% (raised outlook), Schroders +3% (broker commentary),Pennon Group +2.5% (takeover speculation); Ocado -2.5% (broker commentary), Vodafone -1.5% (Verizon played down merger speculation); ]
Germany movers [BASF +1% (broker commentary), Most automakers are higher following the release of monthly US vehicle sales; United Internet -1% (broker commentary)]
France movers [Rexel +1.5% (broker commentary); France Telecom -3% (broker commentary), EADS -0.50% (buyback size below expectations)]
Switzerland movers [Panalpina +11% (new CEO); Meyer Burger -2.5% (disclosed details related to capital raise)]
Italy movers [Telecom Italia -3% (broker commentary)]
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