European Stocks Close On Mixed Note

2024-09-27 2643
(fxcue news) - European stocks turned in a mixed performance on Wednesday with investors closely following the developments on the geopolitical front, and awaiting fresh data from directional clues. The mood was cautious amid concerns that Middle East tensions could escalate and potentially disrupt crude output from the region. The pan European Stoxx 600 edged up 0.05%. The U.K.'s FTSE 100 gained 0.17% and France's CAC 40 crept up 0.05%, while Germany's DAX ended down 0.25%. Switzerland's SMI gained 0.29%. In the UK market, Prudential climbed more than 4%, Coca-Cola gained about 3.3% and Standard Chartered gained more than 2%, while BAE Systems closed nearly 2% up. Shell, HSBC Holdings, Fresnillo, Anglo American Plc, BP, Rio Tinto, IMI, AstraZeneca, RS Group, 3i and Spirax-Sarco advanced 1 to 1.8%. JD Sports Fashion tumbled more than 6% despite the British sportswear retail chain reporting record sales in the 26 weeks to August and reaffirming its FY25 guidance. EasyJet, Severn Trent, Vistry Group, United Utilities, Marks & Spencer, Land Securities, IAG, Entain, Vodafone, Natwest Group, National Grid, British American Tobacco, Kingfisher, GSK, Segro, Informa, Tesco, NEXT, Rolls-Royce Holdings and Associated British Foods lost 1 to 3.4%. In the German market, Adidas gained nearly 2%. Rheinmetall, Deutsche Boerse, BASF, Daimler Truck Holding and Merck gained 0.6 to 1.3%. Sartorius, Munich RE, Commerzbank, E.ON, Deutsche Post, MTU Aero Engines, Puma, Porsche and Brenntag lost 1 to 2%. In the French market, TotalEnergies climbed more than 2%. The company has announced the final investment decision for the GranMorgu development located on offshore Block 58 in the Republic of Suriname with total investment of around $10.5 billion. STMicroElectronics, Thales, Pernod Ricard, L'Oreal, LVMH, Vinci and Publicis Groupe posted moderate gains. Edenred, Renault and Kering lost 2.4 to 3.1%. Unibail Rodamco, Carrefour, Sanofi, Orange, Michelin, Teleperformance, Veolia, Airbus and Endie also ended notably lower. In economic news, the euro area unemployment rate remained stable in August after falling slightly in the previous month. The jobless rate stood at 6.4% in August, the same as in July. That was in line with expectations. In the same period last year, the unemployment rate was 6.6%.
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