Paris/London/Zurich (dpa -AfX) – Europe’s most important stock markets have given in on Thursday. The EuroStoxx 50 fell by 0.94 percent to 5342.35 points at noon. Outside of the euro area, the London guiding index FTSE 100 noted with 0.11 percent in the red of 8,854.56 points. The Swiss SMI gave up 0.63 percent to 12,238.11 points.
The recently cheap signals from the trade talks between the USA and China were unable to go over the further smoldering conflict. “Despite two-day conversations, symbolic concessions and new customs announcements, the uncertainty remains noticeable,” said a comment by the broker Index-Radar. “Because with the tariffs – the core conflict – a lot remains open.” After the recent upward movement, a “consolidation with a tendency towards fatigue” can be observed on the stock exchanges. That should continue in the coming weeks.
“For June we expect a sideways movement of the global stock markets,” wrote the strategists of the fund company DJE.
While oil values added, stocks of airlines and tour operators significantly emerge. The reason for this was one and the same: signals from the Middle East that promise nothing good. For safety reasons, the United States probably reduced its embassy staff in Iraq. Officially, there was no reason for this, but according to unconfirmed US media reports, it is the fear of an upcoming Israeli attack on Iran. Among other things, Air France-Klm lost five percent, including Amadeus IT’s share as a provider of booking systems.
The shares of European insurers suffered from a study by Barclays. Expert Claudia Gaspari had graduated from “positive” to “neutral” after its outperformance and for the time being considered exhausted. The stocks of Zurich (Zurich Insurance) and the Swiss tended. They lost 1.6 and 2.4 percent. At Zurich, Gasparie now votes with “Equal Weight” and at Swiss Re with “Underweight”.
Among the otherwise weakening technology stocks, Be Semiconductor (Be Semiconductor Industries NV) was positive. A long -term higher sales forecast and optimistic statements about profitability drove the share price to the highest level since January.
Tesco shares that climbed by 2.7 percent were also in demand. The British supermarket chain cut off a lot in the first business district and exceeded the expectations by the bank, wrote William Woods von Bernstein in an assessment./Mf/MIS