PARIS/LONDON/ZURICH (dpa-AFX) – The European stock markets trended cautiously on Friday. Market analyst Andreas Lipkow from the broker CMC Markets spoke of buying reluctance: “Investors prefer to stand on the sidelines before the approaching weekend.”
The Eurozone-Leading index EuroStoxx 50 lost 0.24 percent to 5,997.60 points. Outside the euro zone, the British leading index FTSE 100 rose by 0.24 percent to 10,427.88 points. The Swiss SMI trended 0.6 percent higher at 13,614.17 points and recorded a new record high.
Technology stocks were at the top of the individual sectors. Profits from heavyweights ASML (ASML NV) and SAP (SAP SE) supported. Shares in the IT service provider Capgemini (Cap Gemini) rose by five percent according to figures.
SAFRAN set the tone among the industrial stocks. The French engine manufacturer expects the arms boom and increasing demand from aircraft manufacturers to significantly increase profits in the coming years. This was well received on the market. The share recently gained 7.8 percent and climbed to a record high.
However, the figures for another French standard were less well received: The cosmetics group L’Oreal (LOréal) grew more moderately than expected in the fourth quarter. Business in China remained difficult and the luxury business weakened somewhat. The share lost 4.4 percent.
In the declining raw materials sector, Norsk Hydro (Norsk Hydro ASA) fell by 6.7 percent. According to analysts at Jefferies, the Norwegian aluminum producer’s figures were better than expected, but the outlook was only mixed./mf/jha/