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European stocks fall and Evergrande’s debt is disastrous as traders react to earnings news

European stocks closed weak on Thursday, investors showed cautious moves, digested earnings updates and sold $ 2.6 billion in debt-heavy developer China Evergrande Group Reacted to news about the collapse of.

China Evergrande reportedly extended its $ 260 million bond to maturity for more than three months the day after the failure to sell its $ 2.6 billion stake in the real estate services sector failed.

Worry about a surge coronavirus The case also hurts. According to reports, COVID-19 deaths in the UK are on the rise again and hospitals are full of patients.

The Pan-European STOXX 600 fell 0.08%. The UK FTSE 100 fell 0.45%, the German DAX fell 0.32%, the French CAC fell 0.29% and the Swiss SMI rose 0.22%.

Above all market Sales were sluggish in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Iceland, Ireland, Norway, Poland, Portugal, Russia and Spain.

Denmark, the Netherlands and Turkey rose, but Sweden remained flat and settled.

Rio Tinto decreased by nearly 5%. BHP Group decreased by about 3.7%, while Barratt Developments, Evraz, Smiths Group, Antofagasta, Rentokil Initial, Coca-Cola, BP, Natwest Group and BAE Systems decreased by 1.7-3%.

The Barclays Group was down 0.8%, despite reporting better-than-expected quarterly results.

Both miners Glencore and Anglo American have cut more than 2.5%, fearing that the Evergrande debt problem could hurt China’s broader economic recovery.

Halma, Reckitt Benckiser, Legal & General, Hikma Pharmaceuticals, Croda International, IAG, Relx, and 3I Group increased by 1.5-2%. Consumer goods giant Unilever grew about 1.1% after higher-than-expected sales growth in the third quarter.

In the French market, Technip fell 4.8% due to lower revenues. ArcelorMittal decreased by about 3.6%, Legrand decreased by 2.7%, and Saint Gobain decreased by 2%. Shares in French rail company Getlink closed weakly after reporting a decline in earnings in the third quarter.

Sodexo rose nearly 3%. Calfool increased by approximately 2% after maintaining its 2021 net free cash flow guidance “comfortably” above € 1 billion.

LOreal and Hermes International have moved to the top with fairly strong results. Safran, Faurecia, Atos, STMicroElectronics and Air France-KLM also closed at significantly higher prices.

In Germany, SAP, Siemens and HelloFresh decreased significantly, while Volkswagen, Adidas, Merck, Puma, Porsche Automobile, Sartorius, Zalando, Symrise, Deutsche Bank and Frezenius increased by 1-3%.

Swiss engineering and technology group ABB plunged more than 6% after lowering sales guidance for the whole year. Online pharmacy Zur Rose lost about 7.6%, despite reporting significant revenue growth in all markets.

According to the Office for National Statistics, the UK budget recorded the second largest deficit in September since the record began in 1993, according to economic news.

The public sector’s net borrowing in September was £ 21.8 billion, the second highest September borrowing since the start of the monthly record in 1993. This is £ 7 billion less than in September 2020.

For the fiscal year ending September 2021, PSNB excluding banks totaled £ 108.1 billion in 2021. This was also borrowing from the second largest fiscal year to September, down £ 101.2 billion from the year-ago quarter.

According to a survey by the Confederation of British Industry, UK manufacturers expect new orders to grow at a faster pace in the coming quarter. According to an industrial trend survey, 22% of nets said new orders increased in the three months to October. This was slower than 48% in July.

According to a survey by the Statistics Bureau Insee, confidence in French manufacturers remained unchanged in October. The results show that the Manufacturing Confidence Index was stable at 107 in October. The score was predicted to drop from the initial estimate of 106 in September to 105.

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European stocks fall and Evergrande’s debt is disastrous as traders react to earnings news

Source link European stocks fall and Evergrande’s debt is disastrous as traders react to earnings news

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