PARIS (Reuters) - European shares ended Wednesday in a dispersed, many investors have however benefited from their decline in the morning and early afternoon to make purchases with it, demonstrates the willingness of fund managers to increase their exposure to actions.
The pan-European index STOXX 50 gained 0.04%, after being down much of the session. In Paris, the CAC 40 is pressed into the green and took 0.30% to 3708.49 points. Same in Frankfurt for the Dax gained 0.20%, while in London, the FTSE has remained in the red and has lost 0.22% .
"There is no reason to reconstruct the portfolios now. Markets overflowing with cash, low volatility encourages investment and valuations remain attractive," says Roland Kaloyan (Société Générale CIB) .
The good resultsU.S. banks JPMorgan Chase and Goldman Sachs Group have enabled European banking sector to reduce its losses, its index will not lose more than 0.37% in closing. This is, however, one of the largest declines sector of the day with the index of natural resources in mind (-1.31%) .
Société Générale, red lantern CAC-40 dropped 2.84%. The bank warned that its fourth quarter results inscribe an impairment of goodwill (goodwill) up to 384 million euros related to the 50% stake it holds in the broker Newedge.< / p>
On the foreign exchange market, the euro / dollar stabilizes after fluctuated with conflicting statements from European leaders. Ewald Nowotny, a member of the Board of Governors of the European Central Bank, had said that the fluctuations of the euro does not constitute a "major concern" .
Past President of the Eurogroup Jean-Claude Juncker had instead estimated yesterday that the exchange rate of the euro was at a "dangerously high" .
side of the bond market, the stable end Bunds. An auction 4 billion euros of 10-year paper has generated good demand, better than when a similar program in November, thanks to a recent rise in yields allemands.
Spain has awarded its side Paper short (12 and 18 months) and benefited from a sharp decline in financing costs on this occasion. It was the same for Portugal.
On the oil market, Brent and WTI Texas are slightly higher, supported by an unexpected drop in U.S. crude stocks and the closure of an oil platform in the North Sea. Gains were limited, however, OPEC anticipating a further decline in demand this année.
Wilfrid Exbrayat for service français
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