European stocks fell on Friday as disappointment with German export data and reports showing weaker than expected US employment growth in September.
The Pan-European STOXX 600 was down 0.28%. Germany’s DAX fell 0.29%, France’s CAC 40 fell 0.61%, while the UK’s FTSE 100 rose 0.25%. Swiss SMI was flat. The FTSE 100 rose about 1% in a week, while CAC 40 and DAX rose 0.6% and 0.4%, respectively.
Above all market In Europe, Belgium, Denmark, Ireland, the Netherlands, Portugal and Sweden fell.
Austria, Finland, Greece, Norway, Poland and Russia closed at high prices, while the Czech Republic, Iceland, Spain and Turkey closed flat.
Most travel stocks were traded in London after the government announced that it would abolish strict COVID-19 quarantine requirements for 47 destinations.
However, the TUI Group’s share price plummeted by nearly 16%. The travel agency has announced plans to raise more than € 1 billion to help repay substantive state-backed loans during the pandemic.
Aveva Group’s share price fell 3.25% and Mondi fell about 2.2%. Spirax-Sarco Engineering, Smurfit Kappa Group, RightMove, St. JamesPlace, Scottish Mortgage, Burberry Group and Severn Trent fell 1-1.6%.
BP, Royal Dutch Shell, Standard Chartered, IAG, Rolls-Royce Holdings, Kingfisher, Whitbread, Imperial Brands, Anglo American Plc, IHG, Persing Square Holdings and Antofagasta increased by 1-2.6%.
In the French market, Veolia, STMicroElectronics, Dassault Systèmes, Essilor, Danone, Schneider Electric, Worldline, Capgemini, LVMH, Hermes International and Legrand fell 1-2.3%.
Technip rose more than 5.5%, Faurecia rose nearly 4.5%, and Valeo rose about 3.5%. Renault, Accor, Saint-Gobain, Unibail-Rodamco and Saffron increased by 1.4-2.3%.
In Germany, Sartorius has fallen by nearly 5%. HelloFresh, RWE, E.ON, Puma, Adidas, Deutsche Post, Vonovia and Linde fell 1-3%.
Continental, Daimler, BMW, Fresenius, Covestro and MTU Aero Engines increased by 1-3.2%.
Germany’s exports were down 1.2% month-on-month in August, as opposed to a 0.6% increase in July, according to Destatis reports. Economists predicted monthly growth of 0.5%.
At the same time, imports showed a 3.5% rebound, following a 3.6% decline last month. The trade surplus fell from 17.7 billion euros last month to seasonally adjusted 13 billion euros.
Investors have also abandoned their opposition to the new global corporate tax rules and taxed 12.5% on large multinational corporations in key developments to introduce a “at least” 15% global minimum tax rate. He said he agreed to abandon.
According to data released by the Ministry of Labor, the number of non-farm payrolls increased by 194,000 in September after an increase in 366,000 jobs, which was revised upward in August. Economists expected employment to increase by 500,000 compared to the 235,000 additional jobs originally reported last month.
Despite much weaker employment growth than expected, the unemployment rate fell from 5.2% in August to 4.8% in September. The unemployment rate was expected to drop to 5.1%. The unemployment rate has fallen to its lowest level since it reached 4.4% in March 2020, with more than expected declines.
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European stocks almost fall due to weak economic data
Source link European stocks almost fall due to weak economic data