European Stocks End On Mixed Note After Cautious Session

RTTNews | vor 966 Tagen

(RTTNews) - European stocks ended on a mixed note on Friday with investors continuing to react to the minutes from the monetary policy meetings of the Federal Reserve and the European Central Bank, in addition to digesting the latest batch of economic data.

Investors also continued to track the reports about the surge in Covid cases in China.

The pan European Stoxx 600 edged down 0.02%. The U.K.'s FTSE 100 gained 0.27%, while Germany's DAX and France's CAC 40 edged up 0.01% and 0.08%, respectively. Switzerland's SMI ended 0.09% up.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Sweden and Turkiye closed higher.

Czech Republic, Greece, Iceland, Ireland and Russia ended weak, while Netherlands, Norway, Poland, Portugal and Spain settled flat.

In the UK market, Airtel Africa, Smith & Nephew, Imperial Brands, Frasers Group, BAE Systems, SHELL, BP and Admiral Group gained 1 to 1.5%.

Ocado Group, United Utilities, Centrica, Endeavour Mining Plc, RS Group, Auto Trader Group, RightMove, Antofagasta, Harbour Energy, Segro, Tesco and Natwest Group lost 1 to 2%.

In the German market, RWE climbed nearly 2%. Fresenius, HeidelbergCement and MTU Aero Engines gained 1 to 1.3%.

Zalando drifted down more than 3%. Covestro, Adidas, Sartorius, Puma and Symrise ende lower by 1 to 2.3%.

In Paris, TotalEnergies, Safran, ArcelorMittal, Sanofi, Airbus Group, Saint Gobain and Air Liquide gained 0.5 to 1%.

Pernod Ricard and Renault ended lower by about 2.2% and 1.8%, respectively.

In economic releases, official data showed Germany's economy expanded more than initially estimated in the third quarter, despite weaker global growth, delivery bottlenecks and rising inflation.

GDP grew 0.4% sequentially in the third quarter, faster than the 0.1% rise in the second quarter. The rate was revised up from 0.3% estimated on October 28.

Additionally, survey results from the market research group GfK showed that German consumer confidence is set to rise moderately in December.

The forward-looking consumer confidence index rose to -40.2 from -41.9 in November.

Elsewhere, France's consumer confidence improved slightly in November, in line with expectations, survey figures from the statistical office Insee showed.

The consumer confidence index rose to 83.0 in November from 82.0 in the previous month. However, the index was well below its long-term average of 100.

UK car production returned to growth in October underpinned by both domestic and foreign demand, data published by the Society of Motor Manufacturers and Traders showed.

Car production grew 7.4% on a yearly basis in October, reversing a 6% decrease in September.

Demand from domestic market increased 12.5% and that from foreign market climbed 6.3% in October. Still October's overall performance was -48.4% off 2019's total of 134,669 units.

European Stocks Close On Mixed Note

Despite some fairly strong earnings updates, European stocks turned in a subdued performance on Friday on reports the U.S. President Donald Trump is looking to impose at least 15 to 20% tariffs on goods imported from the European Union irrespective even if a trade deal is arrived at.

RTTNews | vor 19 Minuten

TSX Retreats After Hitting New High

The Canadian market is down in negative territory in early afternoon trades on Friday, with stocks from communications, industrials and consumer discretionary sectors under pressure. However, the downside is limited as tariff concerns have eased a bit on reports that trade talks between Canada and South American countries, including Brazil and Argentina are in advanced stages.

RTTNews | vor 1Std 10 Minuten

U.S. Consumer Sentiment Reaches Five-Month High In July

After reporting a substantial rebound by U.S. consumer sentiment in the previous month, the University of Michigan released a report on Friday showing a more modest improvement by consumer sentiment in the month of July. The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.

RTTNews | vor 3Std 21 Minuten

U.S. Housing Starts Rebound More Than Expected In June

New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday. The Commerce Department said housing starts surged by 4.6 percent to an annual rate of 1.321 million in June after plunging by 9.7 percent to a revised rate of 1.263 million in May.

RTTNews | vor 4Std 20 Minuten