PARIS (Reuters) - European shares are more or less in equilibrium Friday in mid-session, to a peak of more than a week in the wake of the massive injection of liquidity by the European Central Bank (ECB ) last Wednesday.
In Paris the CAC 40 was stable at -0.02%, while the Eurofirst 300 was down 0.05%.
On Wall Street, the future points to a slightly lower opening of a session that will lack guidance, both in statistics that corporate earnings.
Investors' attention is captured by the EU summit that began Thursday and ends on Friday. This summit is dominated by the debate between growth and austerity and has given its conditional approval to a new financial aid to Greece.
The action of the ECB has produced an especially beneficial effect on European banks, whose index of 0.7% advance. This index, which produced the worst performance in 2011 with a loss of 32%, gaining 19% since the beginning of the year.
"European shares have upside potential of about 5% within six months but it is not yet a market such as 'buy and hold'. I would be neutral on short-term financial because we have already seen a rally financials, "said Klaus Wiener (Generali Investments).
Values, Areva jumped nearly 7%. Areva has nevertheless published Thursday the results of 2011 sealed by massive write-downs and said he was determined to continue implementing its strategic plan by 2016.
In the telecom sector, the title Belgacom was down over 4% after the Belgian operator said that the decline in gross profit would accelerate in 2012.
The Bund future was up, investors taking profit on their loans from the periphery of the euro area after a sharp increase this week, which saw especially the performance of the Italian two years to fall to its lowest level in 15 months.
The Italian and Spanish bonds underperform their German counterparts but changes should be modest. Italy should continue to outperform Spain since its banks are well supplied with funds from the ECB this week.
The Italian bond yield to 10 years is back above 5% threshold he had pushed Thursday for the first time since August, bringing it closer to parity with its Spanish counterpart.
The dollar registered a nine-month peak against the yen, the risk of deflation is likely to push the Bank of Japan to ease monetary policy even more. The Japanese currency is affected by monetary unexpected Bank of Japan in February, while the dollar benefits from the fact that Fed Chairman Ben Bernanke did nothing suggested he was willing to further relax its monetary policy to stimulate the economy.
However, traders are skeptical that the dollar is progressing much further against the yen. A barrier option at 81.75 yen attracts sell orders of protection may slow the rise in the greenback, currency traders argue.
The dollar rose against the euro as traders and evoke stop order which occurred at 1.3270 dollar.
Future oil are declining and the price of Brent in particular is found within 125 dollars below a peak of 11 months, traders feared supply disruptions least one Saudi and demand from Western countries are likely to decline significantly with the arrival of spring.
Wilfrid Exbrayat for the French service, edited by Benoit Van Overstraeten
In Paris the CAC 40 was stable at -0.02%, while the Eurofirst 300 was down 0.05%.
On Wall Street, the future points to a slightly lower opening of a session that will lack guidance, both in statistics that corporate earnings.
Investors' attention is captured by the EU summit that began Thursday and ends on Friday. This summit is dominated by the debate between growth and austerity and has given its conditional approval to a new financial aid to Greece.
The action of the ECB has produced an especially beneficial effect on European banks, whose index of 0.7% advance. This index, which produced the worst performance in 2011 with a loss of 32%, gaining 19% since the beginning of the year.
"European shares have upside potential of about 5% within six months but it is not yet a market such as 'buy and hold'. I would be neutral on short-term financial because we have already seen a rally financials, "said Klaus Wiener (Generali Investments).
Values, Areva jumped nearly 7%. Areva has nevertheless published Thursday the results of 2011 sealed by massive write-downs and said he was determined to continue implementing its strategic plan by 2016.
In the telecom sector, the title Belgacom was down over 4% after the Belgian operator said that the decline in gross profit would accelerate in 2012.
The Bund future was up, investors taking profit on their loans from the periphery of the euro area after a sharp increase this week, which saw especially the performance of the Italian two years to fall to its lowest level in 15 months.
The Italian and Spanish bonds underperform their German counterparts but changes should be modest. Italy should continue to outperform Spain since its banks are well supplied with funds from the ECB this week.
The Italian bond yield to 10 years is back above 5% threshold he had pushed Thursday for the first time since August, bringing it closer to parity with its Spanish counterpart.
The dollar registered a nine-month peak against the yen, the risk of deflation is likely to push the Bank of Japan to ease monetary policy even more. The Japanese currency is affected by monetary unexpected Bank of Japan in February, while the dollar benefits from the fact that Fed Chairman Ben Bernanke did nothing suggested he was willing to further relax its monetary policy to stimulate the economy.
However, traders are skeptical that the dollar is progressing much further against the yen. A barrier option at 81.75 yen attracts sell orders of protection may slow the rise in the greenback, currency traders argue.
The dollar rose against the euro as traders and evoke stop order which occurred at 1.3270 dollar.
Future oil are declining and the price of Brent in particular is found within 125 dollars below a peak of 11 months, traders feared supply disruptions least one Saudi and demand from Western countries are likely to decline significantly with the arrival of spring.
Wilfrid Exbrayat for the French service, edited by Benoit Van Overstraeten
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