European Stocks Turning In Mixed Performance In Cautious Trade
2024-10-26
3033
(fxcue news) - European stocks are turning in a mixed performance Friday afternoon with investors largely reacting to corporate earnings updates, the latest batch of regional economic data.
Due to persisting worries about escalating tensions in the Middle East, and growing uncertainty about the outcome of U.S. presidential election, the mood in the markets remains cautious.
The pan European Stoxx 600 is down 0.06%. The U.K.'s FTSE 100 is down with a small loss and France's CAC 40 is down 0.17%, while Germany's DAX is gaining about 0.1%. Switzerland's SMI is down marginally.
In the UK market, Natwest Group shares are up 4% thanks to stronger than expected earnings, and an upward revision in future earnings guidance.
Anglo American Plc, Schrodders, Rio Tinto, Ashtead Group, Antofagasta, HSBC Holdings and Howden Joinery are gaining 1 to 2%.
Lloyds Banking Group is down 4.7%. Smith & Nephew is declining 4.1% and Airtel Africa is lower by 2.7%, while Fresnillo, SSE, Convatec Group and Barclays Group are down 1 to 1.6%.
In the German market, Daimler Truck Holding, Puma, Siemens Energy, Porsche and HeidelbergCement are gaining 2 to 4.3%. Zalando is up 1.5%, while Deutsche Bank, SAP and Deutsche Telekom are up with moderate gains.
Sartorius is down 2.3%. Mercedes-Benz is lower by about 1.4% on disappointing results. Qiagen, Beiersdorf, E.ON, Siemens Healthineers, Continental and Munich RE are down 0.8 to 1.2%.
In the French market, Renault is rising 3%. Pharma stock Sanofi is up nearly 2% after the company reported stronger-than-expected third-quarter earnings.
while Unibail Rodamco, Viendi, Saint-Gobain and ArcelorMittal are up 0.6 to 1.1%.
Vinci ended 2.7% down after the company warned that potential new French tax measures could impact profits.
Capgemini, Dassault Sytemes, Edenred, Accor, Bouygues, Orange and L'Oreal are down 1 to 2.5%.
On the economic front, data from Statistical Office INSEE said France's consumer confidence decreased for the first time in six months in October, though marginally. The consumer sentiment index dropped to 94 in October from 95 in the previous month. That was in line with expectations. Further, the index remained well below its long-term average of 100.
German business confidence improved for the first time in five months in October but remained at a low level suggesting weaker economic activity, survey results from the ifo Institute showed. The business climate index climbed to 86.5 in October from 85.4 in the previous month. The score was forecast to rise to 85.6. This was the first rise in five months.
A report from the European Central Bank said Eurozone bank lending growth improved moderately in September as interest rates started to ease. The adjusted loans to the private sector rose 1.6% compared with 1.5% in August. Claims on the private sector posted a steady annual growth of 1.2% in September, the report said.
Russia's central bank raised its benchmark rate by larger-than-expected 200 basis points and also hinted at another hike next month as inflation expectations increased and additional fiscal spending lifted proinflationary effects. The board of directors, led by Governor Elvira Nabiullina, raised the key rate to 21% from 19%.
Sign In via X
Google
Sign In via Google
This page link:http://www.fxcue.com/255243.html
Tips:This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement:Contact us if the content violates the law or your rights