By RTT News,
January 13, 2014, 06:25:00 AM EDT
(RTTNews.com) - The European markets are in positive territory on Monday, as weaker-than-estimated monthly U.S. jobs data led to hopes that the pace of stimulus tapering might be slower than expected. Further, the Basel Committee on Banking Supervision diluted a leverage-ratio rule for banks leading to an upside in banking stocks.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.12 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is losing 0.02 percent.
The German DAX is gaining 0.25 percent, the French CAC 40 is advancing 0.22 percent and the UK's FTSE 100 is up 0.06 percent. Switzerland's SMI is rising 0.28 percent.
In Frankfurt, Deutsche Bank is climbing 4.2 percent and Commerzbank is adding 3.3 percent.
Continental is rising 2.2 percent. The tiremaker reported a marginal rise in 2013 sales.
ThyssenKrupp is climbing 3.5 percent and Salzgitter is advancing around 2 percent.
BMW said its car sales in December advanced 2.9 percent. The stock is moderately higher.
Suedzucker, which announced third-quarter results, is surging 6.4 percent.
Metro is up 1.2 percent. The department store operator reported a modest rise in first-quarter currency-neutral sales.
Gerry Weber is gaining 1.3 percent. Exane BNP raised the stock to ''Outperform'' from ''Neutral.''
SAP is down 0.4 percent following a broker downgrade.
In Paris, Alcatel-Lucent is gaining over 5 percent. The telecom equipment maker is in discussions to sell its enterprise business, Bloomberg reported.
Societe Generale and Credit Agricole are advancing 2.1 percent while BNP Paribas is adding 1.1 percent.
Renault is gaining 2.6 percent. The stock was raised to ''Outperform'' from ''Underperform'' at Bernstein.
Bernstein also raised Peugeot to ''Outperform'' from ''Market-Perform.'' The stock is gaining 7 percent.
Sanofi is losing 1.6 percent. The company's unit Genzyme expanded its strategic agreement with Alnylam Pharmaceuticals to develop and commercialize treatments for rare genetic diseases. As part of the expanded relationship, Genzyme will invest $700 million to buy 12 percent of Alnylam.
In London, Debenhams is adding 3.8 percent after Sports Direct International bought a 4.63 percent stake in the retailer. Sports Direct shares are notably lower.
WM Morrison Supermarkets is rising 3.1 percent and Saintsbury is gaining 1.5 percent..
Barclays is gaining 2.7 percent and Royal Bank of Scotland is up around 2 percent.
Engineering and project management company Amec has provisionally agreed for a cash and share offer for Switzerland-based engineering and construction contractor Foster Wheeler. The stock is rising 1.4 percent.
Merrill Lynch raises UBS to ''Buy.'' The stock is adding 2.6 percent.
The Asian stocks rose for a second consecutive session after data showed the recovery in the U.S. labor market came to a grinding halt in December, easing concerns the Federal Reserve would accelerate cuts to stimulus.
In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks ended mixed, as investors digested a surprisingly weak jobs report that showed hiring slowed sharply last month. The tech-heavy Nasdaq rose 0.4 percent and the S&P 500 gained 0.2 percent, but the Dow edged down marginally.
Crude for February delivery is losing $0.60 to $92.12 per barrel while gold is losing $1.2 to $1245.7 a troy ounce.
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