Major European Markets Close Lower After Weak Chinese GDP Data

RTTNews | Pred 672 dňami

(RTTNews) - The major European markets closed lower on Monday, weighed down by growth concerns after data showed the Chinese economy grew at a slower than expected pace in the second quarter.

China's GDP logged annual growth of 6.3% in the second quarter, faster than the 4.5% expansion in the first quarter, data from the National Bureau of Statistics revealed. However, this was weaker than economists' forecast of 7.3%.

Investors also awaited some key economic data and earnings updates from the U.S. and Europe.

The pan European Stoxx 600 ended 0.63% down. The U.K.'s FTSE 100 closed lower by 0.38%, Germany's DAX ended down 0.23% and France's CAC 40 lost 1.12%, while Switzerland's SMI declined 1.21%.

Other markets in Europe ended mixed. Austria, Czech Republic, Finland, Greece, Ireland, Netherlands, Norway and Sweden ended weak.

Belgium, Denmark, Iceland, Poland, Portugal, Russia and Turkiye closed higher, while Spain ended flat.

In the UK market, Coca-Cola HBC ended lower by 4.2%. Flutter Entertainment drifted down 3.4%. Glencore, Anglo American Plc, Antofagasta, Rio Tinto, Unite Group and Ocado Group lost 2.2 to 2.8%.

Entain shed about 1.6% after it agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million).

RS Group, Burberry Group, Fresnillo, Airtel Africa, M&G, Halma, Persimmon, Prudential, AstraZeneca and BT Group ended lower by 1 to 2%.

Spirax-Sarco Engineering climbed 2.1%. Rentokil Initial, Natwest Group, Compass Group, Pershing Square Holdings and Lloyds Banking Group gained 1 to 1.6%. HSBC Holdings gained about 0.8%.

In the German market, Vonovia ended more than 2% down. Infineon declined 1.6%, while Sartorius, Symrise, E.ON, HeidelbergCement and Volkswagen lost 0.8 to 1.25%.

Deutsche Bank climbed about 2.35%. Fresenius Medical Care gained 1.8% and Munich RE ended 1.2% up.

In Paris, Hermes International and LVMH lost 4.2% and 3.7%, respectively. Kering, L'Oreal, Veolia, WorldLine, Pernod Ricard, Unibail Rodamco, Vivendi and Capgemini ended lower by 1 to 2%.

In the Swiss market, retailer Richemont plummeted more than 10% after its sales figures showed a slowdown in U.S. demand.

Euro Retreats Against Majors

The euro retreated against its major counterparts in the New York session on Monday.

RTTNews | Pred 1 h 13 min

Swiss Market Turns Positive In Closing Minutes, Ends Slightly Up

The Switzerland market closed marginally up on Monday thanks to a few stocks finding some good support in the closing hour of the session. The sentiment was weak for much of the day's session as Moody's downgraded the United States' sovereign credit rating.

RTTNews | Pred 3 h 46 min

European Stocks Rise In Late Afternoon Trades, Close On Mixed Note

After languishing in negative territory for much of the day's trading session, European stocks closed mixed on Monday with several markets seeing some brisk buying at several key counters past mid afternoon.

RTTNews | Pred 4 h 14 min

Ryanair FY25 Profit Down, But Stock Climbs On Revenue And Traffic Growth, Positive Outlook

Shares of Ryanair Holdings Plc. were gaining around 6 percent in the early morning trading on the Nasdaq after the Irish low-cost airline reported Monday higher revenues and traffic in fiscal 2025, despite delivery delays from aerospace major Boeing Co. The company marked as the first airline in European Union to carry 200 million guests in one year. Meanwhile, Ryanair recorded weak annual profit.

RTTNews | Pred 6 h 36 min

U.S. Leading Economic Index Slumps More Than Expected In April

The Conference Board released a report on Monday showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April. The report said the leading economic index tumbled by 1.0 percent in April after sliding by a downwardly revised 0.8 percent in March.

RTTNews | Pred 6 h 57 min

Eurozone Growth Outlook Downgraded; Disinflation To Proceed More Swiftly: EU

Eurozone economic growth outlook was downgraded substantially for 2025 due to the impact of higher trade tariffs and elevated uncertainty and disinflation would proceed more swiftly than anticipated with headline inflation set to hit the 2 percent target by the middle of this year, the European Commission said Monday.

RTTNews | Pred 8 h 4 min

Dollar Index Extends Gains On Trade Deal Optimism

Rising optimism surrounding trade deals between the U.S. and its trading partners, and in particular the significant easing in trade tensions between the U.S. and China bolstered the U.S. dollar during the week ended May 16.

RTTNews | Pred 9 h 30 min

FTSE 100 Drifts Lower In Cautious Trade

U.K. stocks are down in negative territory, losing ground after making a good upmove in the previous week. Investors, awaiting the outcome of a UK - European Union summit in London, are largely making cautious moves.

RTTNews | Pred 10 h 6 min

EURUSD	1.12417	GBPUSD	1.33556	AUDUSD	0.64563
USDJPY	144.831	USDCAD	1.39363	USDCHF	0.83307

Advertisement

Major European Markets Close Lower After Weak Chinese GDP Data