European markets close higher as stocks rebound in bargain hunting

European stocks rebounded on Tuesday. This is primarily due to bargain hunting after a plunge due to heightened concerns about the spread of delta variants in previous sessions. Coronavirus In some countries.

The Pan European Stocks 600 rose 0.52%. The UK’s FTSE 100 rose 0.5%, the German DAX rose 0.56%, the French CAC 40 rose 0.87% and the Swiss SMI rose 0.7%.

Above all market In Europe, Austria, Belgium, the Czech Republic, Finland, Greece, Ireland, Norway, Poland, Spain and Sweden rose significantly, while the Netherlands, Portugal and Russia rose slightly.

Denmark, Iceland and Turkey closed weakly.

In the UK market, Rolls-Royce Holdings, Berkeley Group Holdings, JD Sports Fashion, Melrose Industries, Scottish Mortgages, ITV, ABRDN, Glencore and WPP rose 2-3.5%.

EasyJet shares rose after passenger planes reported less pre-tax quarterly losses than expected.

Just Eat Takeaway, Fresnillo, Avast, Ocado Group, Intertek Group and Imperial Brands fell sharply.

In the French market, Alstom grew nearly 4% after reporting first-quarter sales of € 3.7 billion, a 146% surge.

Technip, Unibail Rodamco, ArcelorMittal, Airbus, Capgemini, BNP Paribas, Legrand, Credit Agricole, Publicis Groupe, Societe Generale, LOreal, Saint Gobain, Thales and Kering increased by 1.2-4%.

In Germany, Linde, Deutsche Bank, Lufthansa, HeidelbergCement, Bayer, MTU Aero Engines, Covestro, Allianz, Volkswagen and Continental Airlines increased by 1-2.5%.

Swiss bank UBS Group AG surged after higher-than-expected profits in the second quarter.

Swedish consumer electronics maker Electrolux AB’s share price fell 6.5% after announcing lower-than-expected second-quarter operating profit and warning that global supply chain problems would worsen in the coming months. Did.

Similarly, shares in the Volvo Group, a commercial vehicle maker, fell 2.5% this year after warning of more production interruptions and outages amid a global semiconductor shortage.

In the Norwegian market, Telenor strengthened after raising its full-year outlook.

According to data released by Destatis, German producer prices rose 8.5% annually in June, ahead of the 7.2% rise announced in May, according to economic announcements. Economists predicted an increase of 8.4%. This was the fastest rise since January 1982, when prices soared during the second oil crisis.

Eurozone current account surpluses fell from € 22 billion in April to seasonally adjusted € 12 billion in May, according to data from the European Central Bank. The surplus for the same period last year totaled 6 billion euros.

The trade surplus for commodities was flat at 25 billion euros, while the surplus for services trade fell from 9 billion euros to 6 billion euros.

Swiss exports grew at a moderate pace in the second quarter, federal customs official data show. Exports increased 5% in the first quarter, followed by a 1% increase in the second quarter, and imports increased 1.7% in the previous quarter and then 1.2% in the second quarter.

The trade surplus increased from CHF 11.4 billion in the previous quarter to CHF 11.52 billion in the second quarter. The trade surplus for the second quarter of 2020 was CHF 9,093 million.

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European markets close higher as stocks rebound in bargain hunting

Source link European markets close higher as stocks rebound in bargain hunting

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