European Shares Mostly Higher After EU Inflation, Growth Data
(RTTNews) - European stocks were flat to slightly higher on Monday after China's State Council announced further measures to bolster consumption and economic growth.
Closer home, Eurozone returned to growth in the second quarter amid falling inflation, data showed.
GDP in the euro area grew 0.3 percent in the second quarter of 2023 compared to the previous quarter, Eurostat reported.
Separate figures from the statistical office revealed that Eurozone inflation fell in line with expectations to 5.3 percent year-on-year in July, compared with 5.5 percent in June.
The pan European STOXX 600 was marginally higher at 471.05 after declining 0.2 percent on Friday.
The German DAX rose 0.2 percent, France's CAC 40 gained 0.4 percent and the U.K.'s FTSE 100 was little changed.
Brewer Heineken plunged nearly 6 percent after slashing its 2023 earnings guidance. Peers Diageo and Anheuser-Busch Inbev were down about 1 percent each.
Novo Nordisk jumped 2.6 percent after launching its blockbuster weight-loss drug Wegovy in Germany.
British building and roofing products supplier Marshalls slumped 8.4 percent after lowering its annual forecast.
Telecoms giant BT Group fell about 1 percent after appointing Allison Kirkby as its new chief executive.
Auto and aircraft parts supplier Senior Plc tumbled 3.2 percent despite reporting a rise in half-yearly profit.
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