Europe midday: Rally continues ahead of US jobs data
Fri 07 Sep 2012
DAX: +77 at 7,244
CAC 40: +46 at 3,556
IBEX 35: +32 at 7,893
MIB: +389 at 16,169
Swiss Market: +19 at 6,546
LONDON (SHARECAST) - European stocks are still charging forward in the wake of yesterday's game-changing decision by the European Central Bank to stand ready to buy unlimited amounts of Eurozone sovereign debt on the secondary market.
US non-farm payrolls data for August, due out this afternoon, may put an end to the celebrations but, for now, bulls are running riot.
Banks, sitting on tons of sovereign debt they would like to get shot of, are not surprisingly enjoying the biggest boost. Credit Agricole and Societe Generale top the tree in Paris, with fellow lender BNP Paribas not far behind. In Frankfurt, Commerzbank and Deutsche Bank finished the morning session as the second and third best performing blue-chips.
Car maker Peugeot revs up, despite its imminent replacement in the CAC 40 index in Paris by Solvay, the chemicals and plastics firm.
Franking machine maker Neopost is missing out on the party after yesterday's second quarter results disappointed.
DAX - Risers
Infineon Technologies 5.62 +6.44%
Commerzbank 1.39 +6.44%
Deutsche Bank 31.46 +5.59%
DAX - Fallers
Deutsche Post 15.38 -3.79%
Fresenius Medical Care 56.55 -1.70%
Linde 128.90 -1.34%