Market Analysis

European stocks fell on Friday on the data of an unexpected reduction of orders for durable goods in the United States, supported the view that the growth of stock markets ahead of the prospects for reviving the global economy, reports Bloomberg.

Dow Jones Stoxx 600 fell during trading on 0,3%, from the beginning of the week indicator lost 2.3% - the maximum reduction from July.

Orders for durable goods in the U.S. fell in August on 2,4%, which is the most significant decline since January, data showed U.S. Department of Commerce. Analysts expected rate increase by 0,4%.

Orders excluding transportation equipment have not changed, while experts expected increase of 1%.

data on the U.S. housing market, published by the Ministry of Trade, were also worse than forecasts. Sales of new buildings in August rose by 0.7% - to 429 thousand in annual terms - its highest level since September 2008. Experts expect an increase rate of 1,6%.

The world markets may have already peaked for the current year, and now they can expect a fall, which until the end of 2009 could reach 20%, said well-known investor Marc Faber told Bloomberg Television at the CLSA conference in Hong Kong.

I would not be surprised if it turns out that we have already passed the peak of the market this year, as the economic news is unlikely to improve so much, - said Faber.

value of shares of Swiss bank Julius Baer dropped by 5,8%. The Bank plans to increase assets under its management, by attracting new consultants, as well as considering the possibility of acquiring assets.

Julius Baer expects to attract each year until 2012, new assets amounting to 6% of total assets of the bank, increasing the number of advisers at 40-50 per year.

growth forecast Julius Baer does not seem plausible in comparison with its competitors, - analyst Bank Vontobel AG in Zurich Stefan Schurman.

Papers

DSG International, Britain's network of sales of electronics, fell 5.2% after lowering guidance for the company's shares Morgan Stanley analyst to below market with at market.

Papers

Norwegian bank DnB NOR fell in price by 9,1%. Bank announced plans to attract 14 billion Norwegian crowns ($ 2.4 billion) through placement of shares among its shareholders.

index of the largest enterprises in Europe Dow Jones Euro Stoxx 50 to 19:29 on Friday fell by 6.27 points (0.22%) - up to 2,831.95 points.

British FTSE 100 rose to 2.93 points (0.06%) - up to 5082.2 points.

French CAC 40 index at that time declined by 19.22 points (0.51%), amounting to 3,739.14 points.

Deutsch DAX lost 23.8 points (0.42%), amounting to 5,581.41 points.

13 of 18 major European stock indexes falling on Friday.

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