European stocks closed weakly as Chinese sells hurt sentiment

European stocks closed weak on Tuesday after being hit by Beijing’s crackdown. technology On the protracted concerns about the impact of the surge in the sector and coronavirus delta variants on the recovery of the global economy.

Today’s mood has been bearish as Beijing has expanded its crackdown on businesses that accuse it of exacerbating inequality and increasing financial risk after the recent rise.

Investors were looking forward to the Federal Reserve Board’s monetary policy announcement scheduled for Wednesday. The US Central Bank’s two-day monetary policy meeting will begin later today.

Banks are widely expected to keep interest rates and their asset purchase programs unchanged. Investors may pay close attention to the Fed’s statement about clues that central banks are considering shrinking their asset purchase programs.

The Pan European Stocks 600 fell 0.54%. The UK’s FTSE 100 fell 0.42%, Germany’s DAX fell 0.64%, France’s CAC 40 fell 0.71%, and Switzerland’s SMI fell 0.24%.

Above all market It was sluggish in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Netherlands, Norway, Poland, Portugal, Russia, Spain and Sweden.

Greece, Iceland, Ireland and Turkey closed at high prices.

In the UK market, Reckitt Benckiser plunged nearly 8.5% after Lysol makers turned to pre-tax losses in the first half of the year due to lower revenues and higher costs.

Scottish Mortgage and Intermediate Capital Group fell 4.3% and 3.5%, respectively. Informa, Prudential, Legal & General Group, Aveva, Whitbread, ITV and Royal Mail also fell significantly.

Moonpig, the publisher of online greeting cards, plummeted after saying it expects sales to drop significantly in the coming months.

The stock price of Reach Plc, the publisher of the Daily Mirror, soared after saying it was trading better than expected and expecting its strong momentum to continue.

Croda International’s share price rose 5.6%. Just Eat Takeaway increased by about 3.75%. Smith (DS), Rolls-Royce Holdings, United Utilities and Smurfit Kappa Group increased by 1-1.4%.

In the French market, WorldLine SA’s share price fell by more than 8.5%. Publicis Groupe, Unibail Rodamco and STMicroElectronics lost 2.4-3.1%. Societe Generale, Faurecia, Valeo, Danone, Saint-Gobain, ArcelorMittal, Engie and Schneider Electric decreased by 1-2%.

LVMH held back profits and ended weakly. Shares rose early in the session after reporting a 84% surge in second-quarter sales.

Dassault Systemes rose nearly 3.5% due to a surge in transportation and mobility software sales and an upward revision of its 2021 forecast. Atos, Michelin, Airbus Group and Veolia closed with a small profit.

In Germany, Infineon Technologies was down about 2.7% and Volkswagen, Daimler and BMW were down 1.6-2.1%. Bayer, Continental and ThyssenKrupp also fell sharply. SAP, Lufthansa and Linde closed with strong growth.

In economic news, UK retail sales continued to grow in July, with orders rising the most since December 2010, according to the latest data from the UK Industry Federation’s Trade and Exchange Survey.

Retail sales were 23% in July, down slightly from 25% in June. The balance was expected to drop to 21%. Meanwhile, orders received rose from 30% in June to 49%, the highest since December 2010.

Eurozone money supply grew at a slow pace in June, and credit to the private sector grew steadily, according to data from the European Central Bank.

M3 money supply grew 8.3% on an annual basis in June, slower than the revised 8.5% growth announced in May. Economists predicted that M3 would grow at a slow pace of 8.2%.

At the same time, the annual growth rate of the narrow indicator M1 increased slightly from 11.6% in the previous month to 11.7%.

According to the data, lending to the private sector recorded an annual increase of 3.5% at the same rate as in May.

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European stocks closed weakly as Chinese sells hurt sentiment

Source link European stocks closed weakly as Chinese sells hurt sentiment

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