Major European Markets Close On Mixed Note After Volatile Session

RTTNews | vor 643 Tagen
Major European Markets Close On Mixed Note After Volatile Session

(RTTNews) - The major European markets ended on a mixed note on Thursday with investors largely making cautious moves, digesting the latest batch of economic data, and assessing the policy stance of major central banks.

The pan European Stoxx 600 ended 0.14% down. The U.K.'s FTSE 100 climbed 0.21%, France's CAC 40 edged up 0.03%, and Germany's DAX ended lower by 0.14%. Switzerland's SMI gained 0.63%.

Other markets in Europe closed mostly lower. Austria, Belgium, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia and Sweden closed weak.

Denmark and Turkiye ended higher, while Spain closed flat.

In the UK market, Melrose Industries climbed 5.5%. Rolls-Royce Holdings gained 3.7%. Relx, EasyJet, DCC, National Grid, Smith & Nephew, Centrica, AstraZeneca, SSE, United Utilities, Severn Trent, Sage Group, BAE Systems, 3i, TUI, Reckitt Benckiser and M&G gained 1 to 2.3%.

Direct Line Insurance Group shares zoomed more than 15% after the motor and home insurer posted a first-half operating loss but forecast improved earnings in 2024.

BHP tumbled 4.7%. Smurfit Kappa Group ended lower by about 4% after the packaging giant said it is in discussions to merge with U.S. rival WestRock.

Ds Smith, JD Sports Fashion, Prudential, Anglo American and Rio Tinto lost 2.7 to 4%.

Entain, Just Eat Takeaway.com, Antofagasta, Glencore, Natwest, Fresnillo, Ferguson and Pennon ended lower by 1 to 2%.

In the German market, MTU Aero Engines, Henkel, Hannover Rueck, Siemens Healthineers and Daimler Truck Holding gained 1 to 1.8%.

Adidas, Infineon, Continental, Siemens Energy, Brenntag, Puma, BASF, Vonovia, Volkswagen, Commerzbank, Symrise, Qiagen, Mercedes-Benz and BMW lost 1 to 3.5%.

In Paris, Orange, Veolia, Airbus Group, Safran, Sanofi, Renault and Engie advanced 1 to 2%.

STMicroElectronics dropped 4.2%. Alstom, WorldLine, ArcelorMittal, Teleperformance, Unibail Rodamco, Capgemini, Pernod Ricard, Publicis Groupe, Kering and LVMH declined 1 to 3.3%.

On the economic front, revised estimate published by the Eurostat said the euro area economy logged only a marginal growth in the second quarter reigniting fears of a recession after the net trade acted as a drag on growth.

The estimate showed that the 20-nation currency bloc grew by a marginal 0.1% in the June quarter. The rate was revised down from 0.3% estimated on August 16.

Germany's industrial production registered a slower decline in July, data from Destatis showed. Industrial output posted a monthly fall of 0.8%, which was slower than June's revised 1.4% decrease. Economists had forecast a drop of 0.5%.

Payroll employment in France grew at a slower pace of 0.1% in the second quarter as significantly less jobs were created compared to the previous three months, preliminary data from the statistical office INSEE showed. In the previous three months, salaried employment grew 0.4% or by 101,800 jobs.

Compared to a year ago, payroll employment rose 1% or by 279,900 jobs.

France's trade deficit widened to EUR 8.09 billion in July from EUR 6.8 billion in June. In the same period last year, the shortfall totaled EUR 15.5 billion, data published by the customs office showed.

Exports logged a monthly growth of 1%. At the same time, imports posted a 3.1% expansion. On a yearly basis, exports moved up 6.3%. By contrast, imports were down 5.7% in July.

UK house prices declined at the fastest pace in nine months in August as rising mortgage rates and high inflation continue to weigh on housing affordability and demand. House prices registered a monthly drop of 1.9%, following a 0.4% drop in July. This was the biggest fall since November 2022 and also marked the fifth consecutive decrease.

read more
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | vor 19 Minuten
DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

German stocks are notably lower on Thursday, weighed down by trade tensions and escalating tensions in the Middle East. Amid a lack of specifics in the much talked about framework agreement, it is feared that the U.S.-China trade tensions may not subside any significantly for now.
RTTNews | vor 1Std 21 Minuten
UK Economy Contracts Most Since 2023

UK Economy Contracts Most Since 2023

The UK economy contracted at the fastest pace in 18 months in April as the end of stamp duty holiday, tax hike on businesses and higher US trade tariffs damped the positive momentum seen at the start of the year. Real gross domestic product declined 0.3 percent month-on-month in April, following a growth of 0.2 percent in March, the Office for National Statistics reported Thursday.
RTTNews | vor 1Std 51 Minuten
FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

Medical devices maker Medtronic plc has urged customers to discontinue clinical use of the recently recalled certain Newport branded ventilators and certain related service parts after the U.S. Food and Drug Administration upgraded it to a Class I recall. According to the FDA, a Class I recall is the most serious type of recall, a situation where the use of, or exposure to, a violative product...
RTTNews | vor 3Std 9 Minuten