Monday Mid-day Wrap From Europe

by: Dealing Floor

From DealingFloor:


Stoxx 600 -0.03%; FTSE 0.11%; DAX 0.27%; CAC 0.11%; AEX 0.12%
¦ ConsDisc 0.43%¦ Financials 0.14%¦ Energy 0.1%¦ ConsStaples 0%¦ Industrial -0.04%¦ Telecom -0.07%¦ Utilities -0.21%¦ Healthcare -0.22%¦ Technology -0.39%¦ Materials -0.58%


- European markets are slightly higher accross the board, despite weak Asian performance. The markets are being led by automobiles following through on Volkswagen’s restructuring story of past Friday. Weakest stocks were materials on continuing profit taking in the sector.

- On a stock specific note shares of Statoil dipped 2.5% after the company posted Q4 net profit below market consensus and ThyssenKrupp edged slightly lower after reporting a drop in Q1 earnings which were roughly in line with estimates. Shares of Clariant surged 7% after reports over the weekend the company is in advanced sale talks with private equity firms.

- The dollar hit a six-week high against the euro ahead of Bernanke’s testimony to the House on Wednesday evening.