European Traders Trim Gains on Bearish US Economic News, Futures Higher, Oil and Copper Rise

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Gloomy economic news from the United States trimmed gains for European markets at the start of a new month of trading. The pace of growth in the U.S. manufacturing sector unexpectedly slowed in February, with the Institute for Supply Management saying its index of national factory activity fell to 52.4 from 54.1 the month before. That, coupled with the testimony of Federal Reserve Chairman Ben Bernanke before Congress, corraled the stampeding bulls.

In European ADR action, Barclays PLC ( BCS ) is up 2.70% to $15.99. Carnival PLC ( CUK ) has gained 2.83% to $30.54 from very favorable publicity after the market was seen to have overreacted to the cruise ship grounding. Sanofi ( SNY ) is higher by 2.62% to $38.00. UBS ( UBS ) is down 0.93% to $13.90.

EUROPEAN STOCK MARKETS

*Euro Stoxx 50 is at 2,537.97, up 25.86 and 1.03%.

*FTSE 100 Index is at 5,921.33, up 49.82 and 0.85%.

*CAC 40 Index is at 3,488.64, up 36.19 and 1.05%.

*DAX Index is at 6,912.96, up 56.88 and 0.83%.

EUROPEAN STOCK FUTURES

*Dow Jones EURO STOXX 50 is at 2,540.00 after reaching a high of 2,551.00 and a low of 2,497.00.

*FTSE 100 is at 5,908.00 after reaching a high of 5,922.00 and a low of 5,837.00.

*CAC 40 10 EURO is at 3,490.50 after reaching a high of 3,501.50 and a low of 3,432.50.

*DAX is at 6,919.00 after reaching a high of 6,955.00 and a low of 6,817.00.

COMMODITY INDEXES

*UBS Bloomberg CMCI is at 1,649.17, after reaching a high of 1,650.74 and a low of 1,639.39.

*Standard & Poor's GSCI is at 703.50 after reaching a high of 708.52 and a low of 693.72.

*RJ/CRB Commodity Index is at 322.40 after reaching a high of 322.61 and a low of 321.65.

*Rogers International Index is at 3,926.18 after reaching a high of 3,929.20 and a low of 3,905.02.

COMMODITIES

*Gold ( GLD ) is at $1,711.20, down $0.10 and 0.01%.

*Oil (USO)is at $107.69, up $0.62 and 0.58%.

*COPPER (JJC) is at $392.150, up $4.200 and 1.08%.

*Corn (KORN) is at $658.00, up $0.75 and 0.11%.

Currencies

*USD/JPY is at 80.980, down 0.20%.

*EUR/USD is at 1.3336, up 0.08%.

*GBP/USD is at 1.5971, up 0.35%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: BCS , CUK , GLD , SNY , UBS


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