The Institute of Statistical Ons, which publishes the data is not seasonally adjusted, said that British producer prices in December saw a rise of 0.3% on a monthly basis and a yearly increase of 2 3%, significantly higher than expected. Excluding food, beverages, tobacco and petroleum, producer prices were unchanged from November and rising by 0.4% over December ‘98 seasonally adjusted. The rise in prices, according to the Institute of Statistics, was caused mainly by the stronger of petroleum products.
A mid-session the CAC 40 is experiencing a decline dell’0, 2% at 6049 points. The turnaround is due to the S & P futures at this moment is negative (-6 points) who made a sign to change the index of the largest securities Bleus. Among the worst Thomson CSF (-5.8%), Air Liquide (-4.2%), Alstom (-3.7%), Bouygues (-3.7%) and Lagardère (-3.6%). In contrast Tf1 (+3.2%), Canal Plus (+2.1%), France Telecom (+1.7%) and Vivendi (+1%).
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The FTSE closed up 1, 23% today, driven upward by bank securities petroleum and pharmaceuticals. According to analysts, the end of the quarter marked by numerous profit warnings from the United States leaves the market still confused and devoid of ideas. Among the best performers is BP Amoco, which marks an increase of 1, 23%.
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Europe continues to trade with negative marking FTSE -0.49% to 6555 points. BP Amoco well as all supported by rising petroleum oil prices, while continuing the bloodshed on telecom. Vodafone drops to 255 pence in fall of 2.2%. Shines the company’s large distribution J. Sainsbury (+5%) on rumors of a sale of its Homebase chain.
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continues to rise the Brent futures (+2.7%) and petroleum titles are appreciated in this session. TotalFinaElf gains 0.2% to 148 euros, while Royal Dutch changing hands at 56.2 euros (+ 0.36%). In London, the day marked by the plus sign for BP (+1%) and Shell (+0.9%). Of note is the important statements of Venezuelan President Chavez, who considers an imminent agreement between OPEC and non OPEC countries to cut 2 million barrels a day.
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Despite the sharp decline in oil prices, investors are rewarding the titles petroleum increasingly seen as more rescue in times of turmoil like the current one. Brilliant sitting so for Eni (+0.5%), which is trading at 14.87 euros, and Erg (+2.12%), which is traveling on top of sitting at 3.81 euros. In ground positively the French Total Fina Elf (+0.1%) while the Dutch Royal Dutch is losing 0.6% which dropped below the 63.30 euros. The City a barrel of oil is passed from hand to $ 26.2, down 1, 2%. Of note also that the Schroder Salomon analysts have revised upward the judging of Eni (from neutral to buy) and Total Fina.
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red mark on European petroleum driven downward by France’s Total Fina Elf who loses 2.08%, passing from hand to 160.1 euros. Marked fall in the Spanish company Repsol, which also lost to the Madrid Stock Exchange on 1, 57%. Red mark for the Dutch Royal Dutch falling ’s, 1.85% to 65.71 euros.