Major European markets end on a mixed note


(RTTNews) – Major European markets ended on a mixed note on Thursday as the mood turned quite cautious after mid-afternoon data showing a bigger than expected rise in price growth consumer prices in the United States in December raised fears that the Fed would raise interest rates at an accelerated pace to contain inflation.

Investors also digested a slew of earnings updates and the latest batch of economic data out of Europe, in addition to tracking developments on the geopolitical front.

The pan-European Stoxx 600 index fell 0.21%. France’s CAC 40 fell 0.41%, while Britain’s FTSE 100 rose 0.38% and Germany’s DAX edged up 0.05%. The Swiss SMI ended down 0.44%.

Among other markets in Europe, Austria, the Czech Republic, Denmark, Finland, the Netherlands, Poland, Portugal and Turkey ended weak.

Belgium, Greece, Iceland, Ireland, Norway, Russia and Spain advanced, while Sweden finished flat.

In the UK market, Informa rose nearly 7.5%. Antofagasta gained around 4.3%. AstraZeneca gained more than 3% after its quarterly results beat expectations.

Airtel Africa, Polymetal International, Smurfit Kappa Group, ITV, Pearson, Smith (DS), Rolls-Royce Holdings, Rio Tinto and Anglo American Plc gained 2.3-3.5%.

Evraz, Dechra Pharmaceuticals, Relx, ICP, Royal Mail, ABRDN, Admiral Group and Diageo ended down 1-3%. Unilever lost more than 1% after the consumer goods company warned of falling margins due to high inflation.

In the German market, HelloFresh fell almost 6%. Zalando, Fresenius Medical Care, Merck, Deutsche Post and Allianz lost 1-2%.

Online food ordering company Delivery Hero plunged as much as 31% after its full-year profit forecast disappointed analysts.

Siemens gained about 5% after the automation company posted a strong quarterly profit and confirmed its 2022 guidance, saying it was seeing “extraordinary” orders from customers.

Linde climbed 3.5% and Bayer 2.5%. Continental, MTU Aero Engines and Henkel gained 1.5-2%.

Metro AG climbed almost 11%. The cash-and-carry company announced a 20% increase in sales in the first quarter of its fiscal year.

In Paris, Unibail Rodamco jumped 8%. Societe Generale climbed nearly 3.5% as the French lender beat estimates to post its best annual performance ever.

Thales, Publicis Groupe, Accor, Safran, Engie, Air Liquide, Sodexo and Michelin gain 1.2 to 2.2%.

Atos fell 4.5%. Hermes International ended down almost 4% and WorldLine lost about 3.7%. Legrand, Kering, L’Oréal, Essilor, LVMH, Danone, Dassault Systèmes and Sanofi also ended sharply lower.

After a moderate slowdown triggered by the exponential spread of the Omicron variant and ongoing logistical and supply bottlenecks, the Eurozone economic recovery is expected to regain momentum in the second quarter and remain strong over the horizon. forecast, the European Commission announced on Thursday.

According to the interim winter forecast, the currency bloc entered 2022 on a weaker note. At 4%, the projected GDP growth rate for 2022 was slower than the previously estimated 4.3% and 5.3% in 2021.

In 2023, growth is expected to moderate further to 2.7% in a move towards “normality”. Nevertheless, the outlook for 2023 has been revised upwards by 2.4%.

On the inflation front, the EU said consumer price inflation is expected to peak at 4.8% in the first quarter of 2022 and stay above 3% until the third quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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