FTSE Eurofirst 300 reaches 3 year high
The FTSE Eurofirst 300 reached its highest level since May 2002 when it ended the day on Monday at 1,180.16, a gain of 0.1 percent.
Advances in the oil and gas sector were key in the day’s advance. Royal Dutch Shell gained 1.5 percent in Amsterdam to stand at €25.75, while OMV was up 2.2 percent to €39.25 and Neste Oil advanced by 0.6 percent to €23.07.
Statoil remained unchanged as it reported second-quarter profits that did not meet expectations, closing at NKr141.
In the automobile manufacturing sector, Volkswagen lost 1.6 percent to €44.03 on differing recommendations from analysts after it released its quarterly profits report on Friday. DaimlerChrysler was up 0.8 percent to €40.43, BMW was up 0.5 percent to €38.97, and Renault gained 1.5 percent to €76.70.
In the banking sector, ABN Amro lost 1.1 percent to €20.39 even though it reported an 11 percent gain in second-quarter net profits, as it warned that second half net profits would be lower than those in the first half.
Erste Bank in Austria gained 1.3 percent to €42.55 on a 41 percent rise in first half net profits and reiterated its projected full-year profits on the strength of strong performance in Eastern Europe.