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European stocks close with strong notes for the second straight day

Inflation concerns have eased a bit after Fed minutes said policy makers have taken a tough stance to curb consumer price inflation, so European stocks on Thursday Closing the deal with a strong note, expanding profits from the previous session.

Samsung Electronics’ higher-than-expected earnings guidance for the second quarter market..

The market has also digested news about the resignation of British Prime Minister Boris Johnson after numerous senior officials have announced their resignation over the past two days.

After Johnson’s resignation, Sterling remained strong against major currencies.

On Wednesday, minutes from the Fed’s latest monetary policy meeting showed that the central bank had promised to reduce inflation.

According to the minutes, members of the central bank said there was an additional 50 or 75 basis point move at the July meeting.

The minutes also said participants continued to anticipate that continued expansion of the federal funding target would be appropriate to achieve the Monetary Policy Committee’s objectives.

The Pan-European STOXX 600 rose 1.88%. The UK’s FTSE 100 rose 1.14%, Germany’s DAX surged 1.97%, France’s CAC 40 rose 1.6%, and Switzerland’s SMI rose 0.93%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Spain, Sweden and Turkey closed with a sharp to moderate rise. However, Russia has risen slightly.

In the UK market, Antofagasta, Anglo American Plc, Harbor Journey and Glencore rose 6-7.4%.

BP, Prudential, RS Group, Airtel Africa, Rolls-Royce Holdings, Rio Tinto, Legal & General, Octado Group, Ashtead Group, Natwest Group, IAG, JD Sports Fashion, Scottish Mortgage, HSBC Holdings, Standard Chartered, British Land, United Group, M & G and Centrica rose 3-4.5%.

Shell won more than 3% after the energy giant said a surge margin from fuel production could have added more than $ 1 billion (€ 980 million) to its refining revenue. work Last quarter.

Consumer electronics retailer Currys surged more than 8.5% after reporting higher-than-expected annual pre-tax profits.

Persimmons fell by nearly 5% after warning of a decline in the volume of new homes delivered in the first half of this year.

Flutter Entertainment, Entain, British American Tobacco, Smith & Nephew, Diageo and Coca-Cola HBC decreased by 2-4.1%.

In the French market, Faurecia has recovered nearly 8%. Atos, Renault, Valeo, ArcelorMittal, Veolia, Saint Gobain, Societe Generale, Air Fance-KLM, Kering, Safran, Michelin, Capgemini, AXA, BNP Paribas, STMicroElectronics, Airbus Group, LVMH, Credit Agricole, Vinci, Accor 26 %.

Hermes International and Pernod Ricard have reduced by about 2.5% and 1.4%, respectively.

In Germany, Porsche Automobile, Daimler, Theland, BMW, Volkswagen, Puma, Covestro, BASF, Deutsche Bank, HelloFresh, Continental, Infineon Technologies and HeidelbergCement increased by 3-6%.

Shares of Danish shipping giant Maersk rose more than 7% on the back of positive readings from a transaction renewal in the first half of China’s peer COSCO.

On the economic front, Destatis reported that Germany’s industrial production increased by 0.2% from April to May and production was revised by 1.3%. Production was expected to increase by 0.4%.

On an annual basis, industrial output fell 1.5% after a 2.5% easing in April.

UK home prices have risen at the fastest pace since late June 2004, according to research data from Halifax, a subsidiary of Llyods Bank.

The house price index rose 13% year-on-year in June, faster than the 10.7% rise in May. The most recent annual price increase was the fastest since late 2004.

Switzerland’s unemployment rate fell further in June, as expected, the State Secretariat for Economic Affairs, or SECO said Thursday.

The unadjusted unemployment rate in June fell from 2.1% in the previous month to 2%. The unemployment rate in the corresponding month last year was 2.9%.

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European stocks close with strong notes for the second straight day

Source link European stocks close with strong notes for the second straight day

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