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We are writing this blog with some updates of Eauropean Wholesale Stock Markets.
London's benchmark FTSE 100 index dipped 0.18 percent to 5,630.65 points, in Paris the CAC 40 was down 0.35 percent to 3,931 points while Frankfurt's DAX 30 was flat at 5,936.77 points.
The Stoxx 50 index of top eurozone shares shed 0.27 percent to 2,901.87 points.
"Once again, investors are sitting on the fence, weighing up another batch of mixed economic data and company reports," said Anthony Grech, market strategist at spread-betting firm IG Index
"The situation is mirrored across the Atlantic, where the Dow is at a virtual standstill this week. With continuing downbeat forecasts from economists, politicians and chief executives alike, we could be set for a minor correction before the next upward spurt."
In London, BP shares dropped 0.32 percent to 622.92 pence after the group announced a major deal that will give the British energy giant its first foothold in Brazil.
BP said it will pay US firm Devon Energy 7.0 billion dollars (5.1 billion euros) for assets in Brazil, Azerbaijan and the Gulf of Mexico.
In New York on Wednesday, Wall Street was slightly firmer after data showed a drop in wholesale inventories and rising sales, lifting hopes of economic recovery and improvement in the job market.
The Dow Jones Industrial Average gained just 0.03 percent to 10,567.33 points, after posting modest gains on Tuesday on the one-year anniversary of the start of the market's rebound from its 2009 lows.
Analysts said the market got a lift from a government report which showed wholesale inventories unexpectedly fell, by 0.2 percent, in January. Analysts had expected inventories to rise 0.2 percent.
The report also said that sales by US wholesalers in the first month of 2010 rose 1.3 percent to a seasonally adjusted 346.7 billion dollars.
In Asian trade earlier Thursday, Japanese stocks closed 0.96 percent higher, supported by the modest gains on US markets and by a weaker yen, which is good for exporters, dealers said.
They said investors reacted calmly to government figures showing that Japan's economy is recovering more slowly than previously thought from its worst recession on record.
The world's number two economy expanded 0.9 percent in October-December from the previous quarter, revised down from an initial estimate of 1.1 percent.
Hong Kong and Shanghai stocks ended flat Thursday as investors exercised caution after February inflation data in China renewed concerns of further policy tightening.
China's National Bureau of Statistics said consumer prices rose 2.7 percent year-on-year in February, quickening from 1.5 percent in January.
Regards
Arif's Wholesale Dropship Team
www.top1wholesaler.com
Thursday, 11 March 2010
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