European stock indexes change moderately

European stock indexes change moderately

On Monday, stock indices of Western Europe changed a bit and demonstrated different directions. Meanwhile, British exchanges are unavailable due to the holiday (the first May bank holiday).

Market participants are currently digesting corporate news as well as statistics on orders of industrial enterprises in Germany.

In March, the volume of orders of industrial enterprises in Germany slumped by 0.9% versus the previous month and tacked on by 3.1% in annual terms. Analysts on average had hoped for an increase of 0.5% in the monthly and 5% in annual terms.

The index of the leading enterprises of the Stoxx Europe 600 region soared by 0.13% hitting 387.55.

The French indicator CAC 40 slumped by 0.05%, the German DAX soared by 0.28%. In addition to this Spanish IBEX 35 and Italian FTSE MIB rallied respectably 0.3% and 0.2%.

The ascend in crude prices was another positive factor. It was provoked by worries over the US withdrawal from the agreement on Iran's nuclear program that could potentially lead to a reduction in Iranian crude exports.

Shares of the Norwegian Statoil managed to surge 1.8%, the Italian Eni gained by 0.3%.

Meanwhile, the price of securities of the German reinsurance company Hannover Re tacked on by 2.6%. The company ramped up its net revenue in the first quarter of 2018 amid a considerable increase in insurance premiums.

As a matter of fact, net profit Hannover Re in January-March rallied by 3.3%, hitting to 273.4 million euros, and the overall amount of premiums inched up by 18% reaching 5.3 billion euros.

As for the value of Nestle shares, it inched up by about 0.6%.

Earlier, the company entered into an agreement with the American coffee giant Starbucks for the purpose of acquiring rights to the global sale of consumer products under several company-owned brands. Nestle is expected to pay Starbucks up to $7.15 billion under the agreement.


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