Guy Villax culpa baixo preço dos genéricos por ruturas de "stock" nas farmácias

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Reuters
Eurostocks Weaker; Payrolls Eyed
Thursday July 3, 7:12 am ET
By Huw Jones


LONDON (Reuters) - European shares ran out of steam by midday on Thursday as early gains evaporated amid caution ahead of the U.S. non-farm payrolls numbers, the week's last major economic figure before America takes an Independence Day holiday.
Aluminum group Pechiney jumped four percent to its highest level so far this year as Norwegian industrial group Norsk Hydro declined to comment on talk it may bid for the French firm. The U.S. payrolls data is due out at 8:30 a.m. ET and Wall Street will close early on Thursday and is shut all day Friday for Independence Day.

"European equities are a bit of a mixed bag today," said Edwin Slaghekke, a fund manager at Theodoor Gilissen Bankiers.

"Investors have been overreacting to separate bits of data from the States recently, such as the Chicago PMI data on Monday, when the underlying trend has been one of gradual improvement."

The FTSE Eurotop 300 index was flat at 847 points, with declining issues outpacing advancers by a narrow three to two in light dealings.

The DJ Euro Stoxx 50 index was down 0.4 percent at 2,409 points.

A rally of about 30 percent from mid-March's six-year low has lost momentum in the past week as investors look for stronger economic data and corporate profits to justify another spurt higher.

Nevertheless, investors were putting cash into economy-sensitive cyclicals such as autos, basic producers, retailers, industrials and construction stocks, betting that stronger economic recovery will come through as the year progresses.

Heavyweight oil stocks fell as the sector digested news that a Nigerian union said it had started withdrawing workers from oil terminals and this would halt exports.

The terminals are operated by Royal Dutch/Shell Group whose shares fell two percent in London. Rival BP and TotalFinaElf were also among the top blue-chip decliners even though crude oil prices were up about 1.6 percent in London.

Defensives such as utilities, and food and beverage fell.

Shares in Swiss Re lead the blue-chip advancers after Morgan Stanley investment bank said the reinsurer was the most attractive stock in Europe's insurance sector after recent underperformance.

Swiss Re shares gained four percent to 79.06 Swiss francs.

French-American media group Vivendi Universal rose 0.7 percent to 15.91 euros after Morgan Stanley investment bank raised its rating on the stock to reflect a higher valuation of the firm's U.S. media assets which are up for sale.

CS UP FOR SECOND DAY

Meanwhile, Credit Suisse shares were up 0.8 percent at 37.15 Swiss francs, extending a six percent gain on Wednesday after a U.S. judge dismissed some claims against investment banks, including a unit of the Swiss group, by investors who said analysts' research had caused them to lose money. A Federal judge handed investment bank Merrill Lynch a second court victory in as many days on Wednesday.

Investment banking stocks are approaching fair value after a good run, fund managers said.

"People were thinking that the strength of fixed income operations would fall rapidly after Q1, but results from their U.S. peers showed that strength had been largely maintained in the second quarter," said Matt Robertson, a fund manager at Aberdeen Asset Management.

"The differences between the valuations of investment banks look like they are leveling out, as CS is gradually reducing their discount to Deutsche Bank and UBS shares."

Carmaker stocks were strong for a second day on hopes that economic recovery will keep sales in the sector on track later in the year. DaimlerChrysler rose three percent to 31.50 euros, while Volkswagen gained 1.6 percent to 37.62 euros.