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European Markets Fall Amid Ukraine Concerns, Suedzucker Plunges(Alliance News Via Acquire Media NewsEdge) PARIS (Alliance News) - The European markets are in negative territory on Tuesday, following weak cues from Wall Street overnight, as concerns about Ukraine remained strong with tensions escalating between Moscow and Kiev. In economic news, UK industrial production grew more-than-expected in February, driven by strong contribution from oil and gas extraction. Industrial production grew 0.9% in February from a month ago when it remained flat, the Office for National Statistics said. Switzerland's retail sales turnover recovered in February, provisional results from the Federal Statistical Office showed. Retail sales real turnover grew 1% year-on-year in February, following a 0.1% drop in January. The Euro Stoxx 50 index of eurozone bluechip stocks is losing 1.07%, while the Stoxx Europe 50 index, which includes some major UK companies, is falling 0.37%. The German DAX is declining 1.19% and the French CAC 40 is falling 1.04%. The UK's FTSE 100 is dropping 1.06% while Switzerland's SMI is down 0.20%. In Frankfurt, Infineon Technologies is declining around 3%. Merrill Lynch cut Infineon to ''Underperform'' from ''Neutral.'' Commerzbank and Deutsche Bank are falling 2.3% and 1.1%, respectively. Suedzucker is declining 19%. The sugar producer reported lower operating profit and revenues for fiscal 2013/14, and sees a significant decrease in operating profit in 2014/15, along with revenue fall. Berenberg lifted its rating on DMG Mori Seiki. The stock is moderately lower. In Paris, Carrefour is losing 3.5% and Saint-Gobain is falling 3.4%. Airbus and Axa are declining 3.4% and 3.3%, respectively. Societe Generale, Credit Agricole and BNP Paribas are losing between 2.8% and 1.3%. Bouygues is adding 1.1% after a newspaper report said telecom operator Iliad is in talks to buy its mobile phone unit. In London, Sports Direct International is falling about 10% amid reports that founder Mike Ashley was selling a 4% stake in the retailer. Ashtead is declining 6.3% and St. James's Place is falling 4.4%. International Consolidated Airlines is falling 4.3% while ITV and Barratt Developments are falling 3.9% each. Bucking the trend, Fresnillo and Randgold Resources are notably higher. Nokia is adding 2.2% in Helsinki. The mobile phone maker received regulatory transaction to sell substantially all of its Devices & Services business and license its patents to Microsoft Corp. The Asian stocks turned in a mixed performance, with Chinese shares rallying on stimulus hopes while Japanese stocks tumbled after the Bank of Japan refrained from expanding its ultra-loose monetary policy despite a sales tax hike. In the US, futures point to a lower open on Wall Street. In the previous session, stocks fell for a third day in a row. The Dow lost a percent, the S&P 500 dropped 1.1% and the tech-heavy Nasdaq fell 1.2%. Crude for May delivery is gaining USD0.83 to USD101.27 per barrel, while June gold is adding USD14.1 to USD1312.4 a troy ounce. Copyright RTT News/dpa-AFX |