In Germany, stocks were lower Wednesday following the global market trend and erasing some of the previous week’s gains, primarily from a Greek bailout and higher factory output.
Source: Google Finance.
A few events helped some sectors in Germany. Ministers of Germany, France, Russia and the Ukraine reached agreements Wednesday to improve security in the Ukraine. Germany also reported that it would be increasing its gas imports from Gazprom. Stocks gaining in the day’s trading included Thyssenkrupp AG, gaining 3.12 percent, Deutsche Post, gaining 2.23 percent and Vonovia, which gained 0.60 percent.
Stocks leading losses for the day included E.ON SE NA, down 5.58 percent, Prosiebensat 1 Media AG, down 3.61 percent and RWE AG ST O.N., down 3.50 percent. Sectors leading losses overall included utilities, media and construction.
U.S. stocks were a factor for the broader market as the retail industry reported losses in valuations and corporate earnings were lower. Disney, Macy’s and Staples were among the top stocks leading the market lower. On Friday the U.S. will report its retail sales which are likely to fall below consensus of 0.9 percent as the outlook for the sector has weakened. For the day the Dow Jones Industrial Average gained 222.44 points or 1.26 percent to close at 17,928.35. The S&P 500 was up 25.69 points or 1.25 percent to close at 2,084.38. The Nasdaq Composite closed down -49.19 points or -1.02 percent to close at 4,760.69.
In Europe, other notable index closes included France’s CAC 40 which closed at 4,316.67 for a loss of -21.54 points or -0.50 percent; the Stoxx Europe 600 which closed at 334.74 for a loss of -1.50 points or -0.45 percent; and the Stoxx Europe 50 which closed at 2,956.71 for a loss of -22.26 points or -0.75 percent.
In Asia, China’s Shanghai Composite closed at 2,837.04 for a gain of 4.45 points or 0.16 percent. In Japan the Nikkei closed at 16,579.01 for a gain of 13.82 points or 0.08 percent. Hong Kong’s Hang Seng Index was lower at 20,055.29 for a loss of -187.39 points or -0.93 percent. The S&P BSE Sensex closed at 25,597.02 for a loss of -175.51 points or -0.68 percent. The Asia Dow closed at 2,639.96 for a loss of -2.71 points or -0.10 percent.