The Malta Independent 9 June 2025, Monday
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European Stocks fall from six month high

Malta Independent Saturday, 23 October 2010, 00:00 Last update: about 16 years ago

On Friday European stocks fell, dragging the Stoxx Europe 600 Index from a six-month high, as investors speculated that additional stimulus measures by central banks will fail to sustain the pace of the economic recovery. Asian stocks gained while US futures fluctuated between gains and losses.

Alfa Laval AB, the world’s biggest maker of heat exchangers, lost 3.4 percent as sales in the third quarter missed analysts’ estimates. BioMerieux SA slumped 5.5 percent after cutting its sales growth forecast for the second time in three months. Valeo SA, France’s second-largest auto-parts supplier, soared 8.5 percent after increasing its prediction for profit. Ericsson AB rallied 5.3 percent as profit beat analysts’ estimates.

European shares slipped during early morning trading retreating after key indexes reached a six-month high on Thursday as investors awaited the outcome of the G20 financial leaders in South Korea, though strong earnings gave some support.

G20 finance officials started their formal meetings on Friday, with the United States seeking to corral reluctant finance leaders into a deal that would commit emerging markets to cut their current account surpluses and allow their currencies to rise.

The pan-European FTSEurofirst 300 index of top shares was down 0.2 percent at 1,090.65 points after reaching its highest closing level since late April.

Japanese stocks gained for the first time in three days as higher-than-estimated company earnings and a drop in U.S. jobless claims boosted confidence in a global economic recovery. The Nikkei 225 Stock Average rose 0.5 percent while the Topix index gained 0.6 percent, with more than twice as many stocks declining as advancing. For the week, the Nikkei 225 lost 0.8 percent, while the Topix dropped 0.2 percent.

This article was compiled by Valletta Fund Management Limited, a member of the BOV Group. Valletta Fund Management,

TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Freephone: 80072344. email: [email protected] Internet address: www.vfm.com.mt. Valletta Fund Management Limited is licensed by the MFSA.

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