2:00PM New York, 8:00PM Frankfurt – European stocks traded in a tight range.

Europe market update

European stocks recovered ground lost in mid-day trade, the key indices in Germany and France closed higher.

The CAC 40 advanced 0.29% to 4,686.00 In Germany the DAX 30-index gained 54.47 points or 0.81% to 6,768.99. Shares in Switzerland climbed as the Swiss Market index gained 51.58 points or 0.71% to 7,274.37. The FTSE 100 climbed 21.60 points or 0.37% to 5,812.10.

Auto sales decline in May from April

European auto registration fell 7.8% in May from a year ago as fuel prices rise and one less sales day in the month. For the first five months sales were stable and declined 0.7%. In May 1.33 million cars were registered. Registration declined 24.3% in Spain and 17.6% in Italy from April. The new registration in Germany fell 6% from April but rose 4.2% from a year ago. In France registration rose in May 7% from April and 5.2% from a year ago.

Gainers and losers

Michelin led the gainers in the CAC 40 index stocks with a rise of 6.93% to 51.34 euros followed by gains in Peugeot of 3.64% to 37.23 euros, in Dexia of 3.51% to 14.13 euros, in EADS of 3.22% to 14.09 euros and in Bouyguess of 2.66% to 46.68 euros.

EDF led the decliners in the CAC 40 index with a loss of 4.63% to 61.99 euros followed by losses in Credit Agricole of 1.97% to 13.89 euros, in Total of 1% to 52.38 euros, in Largardere of 0.99% to 41.78 euros and in Vallourec of 0.94% to 199.10 euros.

Among the DAX 30 index shares, Commerzbank led the gainers with a rise of 4.63% to 21.05 euros followed by gains in Allianz SE of 4.72% to 118 euros, in Siemens AG of 2.90% to 74.62 euros, in Deutsche Lufthansa of 1.47% to 15.86 euros and in Deutsche Bank of 1.39% to 62.86 euros.

ThyssenKrupp led the decliners in the DAX 30 index with a fall of 2.97% to 40.46 euros followed by losses in Deutsche Borse of 1.56% to 79.43 euros, in Henkel KGaA of 1.42% to 28.55 euros, in BMW AG of 0.89% to 33.37 euros and in RWE AG of 0.75% to 80.37 euros.

Precious metals movement

At 4:32 PM, in London, gold lost $5.40 to $866 an ounce. Silver fell 1 cent to $16.31 an ounce, platinum advanced $16 to $2,043 an ounce and palladium gained $12 to $450 an ounce.

Asian markets

In Tokyo Nikkei 225 Index closed higher 85.13 or 0.61% to 13,973.73, in Hong Kong Hang Seng index decreased 431.56 or 1.87% closed to 22,592.30. In Australia ASX 200 index higher 48.90 or 0.92% to close 5,378.10. In Malaysia KL Composite index increased 3.81 or 0.31% closed to 1,229.35.

In South Korea Kospi Index increased 7.99 or 0.46% to close at 1,747.35, in Thailand SET index closed lower 8.16 or 1.03% to 782.64 and Indonesia JSE Index edged decreased 10.59 or 0.44% to 2,398.42. Sensex index in India decreased 60.58 or 0.40% to 15,189.62.