In Germany, market indexes were broadly higher Thursday despite global economic data concerns which continued to weigh on stock valuations globally. Investors appeared to increase buying after previous losses showed numerous value buys. The DAX closed at 9,851.86 for a gain of 23.61 points or 0.24 percent. A rally in oil prices and energy stocks was also a main reason for the day’s gains. Higher oil prices slightly helped energy stocks Thursday which gained above other sectors. Also while global economic indicators are trending lower Germany’s indicators are currently reporting some greater stability which is helping the market in Germany.
Source: DAX from Google Finance.
Market movers in Germany included Bayer which has recently gained approval for new drug, Gadavist. Banks also traded actively Thursday as many banks have been on the downtrend recently affecting the broader market including Intesa Sanpaolo SpA and others. Numerous banks in the region are seeking to selloff business units in order to reduce costs and streamline businesses under tight consumer pressures.
In other European markets, the two main large-cap indexes in the U.K, the FTSE 100 and FTSE 250 were both lower. The FTSE 100 closed at 6,112.02 for a loss of -73.57 points or -1.19 percent. The FTSE 250 closed at 16,659.44 for a loss of -70.65 points or -0.42 percent. France’s CAC 40 closed at 4,324.23 for a loss of -1.09 percent. Germany’s DAX closed at 9,828.25 for a loss of -98.52 points or -0.99 percent.
In Asia, China’s Shanghai Composite closed at 2,991.27 for a loss of -1.37 points or -0.05 percent. Hong Kong’s Hang Seng closed at Hang Seng closed at 20,525.83 for a loss of -151.11 points or -0.73 percent. The S & P BSE Sensex closed at 25,101.73 for a loss of -127.97 points or -0.51 percent. Japan’s market was closed.
In the U.S., markets followed the broader eastern hemisphere’s lead with stocks mostly falling Thursday. the Dow Jones Industrial Average closed at 17,660.44 and was flat for the day with a 0.05 percent gain. The S&P 500 was also flat, closing at 2,050.61 for a gain of 0.51 points or 0.02 percent. The Nasdaq Composite closed lower for the day at 4,717.09 for a loss of 8.55 points or 0.18 percent.