• Major stock indices in Europe trading moderately lower

Market news

16 February 2017

Major stock indices in Europe trading moderately lower

The stock indices in Western Europe trading on mixed corporate reporting after the longest rally in 19 months. Yesterday the world stock market set a new record: the composite index MSCI All-Country World has updated the 2015 highs.

Investors continue to monitor the political scene, including the US news, the campaign in France and the meeting of Foreign Ministers of G20.

Shares of mining companies are getting cheaper, the industry index falls from a high of more than two years due to the negative dynamics in the price of copper. Anglo American lost 2,6%, Antofagasta - 1,9%, Glencore - 0,4%.

Cobham shares fell more than 21% to the lowest level since the end of 2004 and can show a record one-day decline. The company reported a write-off of £ 150 million ($ 187 million) and the deterioration of the forecast for profit in 2016.

The stock price of Nestle SA fell 1.2%. The company does not reach the set target for the fourth consecutive year, and its CEO Mark Schneider said that it will take years to return to the growth rates that are expected. He also reported an increase in restructuring costs.

Air France shares jumped more than 7%. Annual operating profit of the largest air carrier in Europe exceeded expectations, the forecast for 2017 has been mixed.

AstraZeneca securities decreased by 3.5%, oil giant BP down 1.6%. Shares of the French company Capgemini, providing IT-services, rose 2.3% after the firm reported a target of increasing profits for 2017.

At the moment:

FTSE 7260.79 -41.62 -0.57%

DAX 11763.34 -30.59 -0.26%

CAC 4899.86 -25.00 -0.51%

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