European stocks fall, extending losses for 4 consecutive days

European stocks fell on Monday, losing ground in four consecutive sessions, as concerns over a recession as a result of rising inflation and rising interest rates caused a whole lot of sales.

Concerns about the impact of China’s strict blockade regulations in Shanghai, as well as disappointing data from China, showed a significant slowdown in the country’s export growth in April, further dampening sentiment.

The Pan-European STOXX 600 plunged 2.9%. The UK’s FTSE 100 fell 2.32%, Germany’s DAX fell 2.15%, France’s CAC 40 fell 2.75%, while Switzerland’s SMI fell 2.44%.

Above all market In Europe, Austria, Belgium, Denmark, Finland, Iceland, Ireland, the Netherlands, Norway, Poland, Portugal, Spain and Sweden, there were losses of 2-4%.

Greece and Russia closed slightly weakly. Turkey rose slightly, but the Czech Republic ended flat.

Miners led the loss as metal prices fell due to demand concerns. Energy stocks plummeted as oil prices fell.

In the UK market, Entain plummeted by nearly 9%. Scottish Mortgage, Antofagasta, Glencore, Flutter Entertainment, Halma, Anglo American Plc, Whitbread, Melrose Industries, and BP lost 5-7%.

Pershing Square Holdings, Croda International, Rio Tinto, RS Group, Prudential, Informa and Avast and Smith (DS) fell by more than 4%. Shell, Aviva Group, Aviva, IAG, Dechra Pharmaceuticals, Taylor Wimpey and Natwest Group have also declined significantly.

Sainsbury (J), Kingfisher, Tesco, Coca-Cola HBC, Unilever and Hargreaves Lansdown increased by 1-2.3%.

In the French market, Atos, Accor, WorldLine, Dassault Systemes, Pernod Ricard, Schneider Electric, Veolia, L’Oreal, Teleperformance, Legrand, STMicroElectronics, Publicis Groupe, LVMH, Kering, Capgemini and Safran lost 2.5-4.5%. Did.

In Germany, Deutsche Post fell by more than 6.5%. Infineon Technologies has reduced by more than 6%. The company reported that profits for the second quarter of 2022 increased from € 203 million in the previous year to € 469 million.

Deutsche Wohnen lost more than 4%. Real estate companies saw a decline in operating capital in the first quarter due to lower rent income.

MTU Aero Engines, Puma, Vonovia, Adidas, Volkswagen, Allianz, Siemens Healthineers and Siemens lost 2-5%.

A stake in Delivery Hero, a multinational online food delivery service company, put 13.3% into the tank.

Investor confidence in the euro area fell to a low level of nearly two years in May as early indicators suggest that the currency zone is heading into recession after the war in Ukraine in economic news. Did.

Investor confidence index fell more than expected from -18.0 in April to -22.6 in May, according to behavioral research agency Centix. The score was predicted to drop to -20.8.

The index fell to its lowest level since June 2020 as it fell three times in a row.

France’s trade deficit increased from € 10.4 billion in February to € 12.4 billion, according to customs data.

Exports decreased 0.1% month-on-month and imports increased 3.5% in March. On an annual basis, exports and imports increased 18.2% and 27.1%, respectively.

Contact for comments and feedback:

Market analysis

European stocks fall, extending losses for 4 consecutive days

Source link European stocks fall, extending losses for 4 consecutive days

Back to top button