European equities on Tuesday performed in response to the region’s latest earnings releases and economic data.
Undertones were positive as optimism continued about the strong economic recovery from the pandemic. Investors fought off inflation concerns and turned to some important economic data from the United States.
The Pan-European STOXX 600 rose 0.03%. The UK’s FTSE 100 fell 0.31% and France’s CAC 40 fell 0.28%. Germany’s DAX rose 0.18% and Switzerland’s SMI rose 0.71%.
Above all market In Europe, the Czech Republic, Iceland, Ireland, the Netherlands, Poland and Russia, it ended at a higher level.
Greece, Norway, Portugal and Turkey remained sluggish, while Austria, Belgium, Denmark, Finland, Spain and Sweden finished flat.
In the UK market, Just Eat Takeaway increased by more than 4.5%. IAG, Ocado Group, Experian, Aveva Group, Smurfit Kappa Group, RightMove, Compass Group, Informa, Avast, Admiral Group, Auto Trader Group and Halma increased by 1-2.5%.
Royal Dutch Shell, Anglo American, BT Group, Glencore, Antofagasta and BP lost 2-2.7%. Associated British Foods, BHP Group, Rio Tinto, Vodafone Group, Burberry Group and Smiths Group also fell significantly.
In France, Hermès International increased by more than 1.5%. Teleperformance, Air France-KLM, Worldline, Accor, Capgemini and L’Oreal also closed at high prices.
Michelin has fallen by nearly 3%. Total, Safran, ArcelorMittal, Technip, Airbus Group and Carrefour lost 1-2%.
The German market surged nearly 16% after Deutsche Wohnen announced that it had agreed to a $ 22 billion bid from Europe’s largest residential real estate company, Vonovia. Vonovia’s share fell by more than 6%.
Deutsche Post, Deutsche Bank, Volkswagen, Infineon Technologies, Lufthansa, Daimler, Continental and Henkel increased 1-3%.
Fresenius fell about 3.7%, while Munich Re, Bayer, E.ON, Fresenius Medical Care, BASF and RWE fell 1-1.4%.
Germans in economic news Economy The coronavirus pandemic shrank slightly from initial estimates in the first quarter, Destatis’ revised data revealed.
Gross domestic product fell 1.8% quarter-on-quarter in the first quarter, in contrast to the 0.5% increase seen in the fourth quarter. The gradual decrease has been corrected from -1.7%. On an unadjusted basis, the annual decline in GDP deepened from 2.3% in the fourth quarter to 3.4%. The rate has been revised from 3.3%.
German business May sentiment improved more than expected, according to data from the Ifo Institute for Economic Research. The May business sentiment index rose from 96.6 last month to 99.2. Reading also exceeded the expectations of 98.2 economists.
UK retail sales and orders increased over the year to May, but the comparison was distorted by low activity levels during the first national blockade 12 months ago.
The balance of retail sales went from + 20% to + 18%, while the balance of purchase orders surged from -1% in April to 22%.
According to the Office for National Statistics, the UK budget recorded the second largest shortfall in the April record.
Net public sector borrowing increased to £ 31.7 billion in April. This is the second highest April borrowing since the monthly record began in 1993, £ 15.6 billion less than in April 2020.
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