(RTTNews) – European markets ended the decline on Friday because stocks abandoned initial profits after a mass sale in the last hour, as the temperament became bearish due to economic considerations that have an effect on the coronavirus pandemic.
An immediate initial estimate published through Eurostat, which showed that the euro dominance economy at the fastest rate ever recorded in the quarter amid the coronavirus pandemic, has a sense of damage.
In the UK, Prime Minister Boris Johnson announced that the country would reduce its reopening efforts. Several areas of the north of England have reportedly re-imposed some blocking measures after the strong accumulation in new cases of coronavirus.
The positive temperament from the beginning of the consultation, thanks to the encouraging updates of the benefits of the great generations of the United States Amazon, Apple, Alphabet and Facebook. But stocks fell in the last hour and stabilized well from the day’s highs.
Among other markets in Europe, Austria, Belgium, Denmark, Greece, Ireland, Netherlands, Portugal, Spain, Sweden and Turkey ended weak, while Czech Republic, Finland, Iceland, Norway, Poland and Russia closed higher.
In the UK market, IAG fell more than 7.5% after the British Airways owner suffered a loss of 4.21 billion euros and announced its target of 2.75 billion euros in capital.
BT Group fell 7.1%. EasyJet, TUI, Carnival, Whitbread, Rolls-Royce Holdings, Intertek Group, ITV, British American Tobacco, BP, BAE Systems, AstraZeneca, Meggitt, Vodafone and Royal Dutch Shell 2 to 6%.
By contrast, Land Securities, 3i Group, Polymetal International, Hiscox, Fresinus, British Land Compan and Hargreaves Lansdown rose from 2% to 4%.
Engie shares rose by almost 4.5% after the company announced an additional asset review after reporting a fall in sales and profits in the first half.
Worldline rose 2.9%, Capgemini rose 2.2%, ArcelorMittal rose 2% and Vivendi 1.8%, while Carrefour rose 1.55%.
In the German market, Covestro, Continental, Volkswagen and Daimler lost from 3 to 4.7%. Lufthansa, HeidelbergCement and BMW lost 2.6 to 4%, while Wirecard rose by more than 4%, and Linde and Thysenkrupp ended up with a 1.15% drop.
In economic news, the first estimate of the statistical workplace Insee shows that France’s gross domestic product fell through a record 13.8% sequentially at the time of this fiscal year’s quarter, following the 5.9% decline in the first quarter. Economic output 19% less than in the 2019 quarter.
Germany’s retail sales grew at a faster-than-expected rate of 5.9% consistent with the year, following a 3.2% accumulation in May, according to Destatis data. Sales are expected to increase to 3%.
The value of space in the UK increased in July, defying declining expectations, the Nationwide Building Society survey was known Friday. The house value index increased by 1.5% year-on-year after a 0.1% decrease in June. Economists had forecast a 0.3% decline. The value of the house increased by 1.7% compared to June, when it fell by 1.4%. Economists expected 0.1%.
The eurozone economy contracted at the fastest speed ever recorded in the quarter amid the coronavirus pandemic, with an initial preliminary estimate published through Eurostat on Friday. Gross domestic product declined across 12.1% on a quarterly rate, more than the 3.6% decrease in the first quarter. This is higher than economists forecast 11.2% and the biggest decline since the series began in 1995.
On an annual basis, GDP fell by 15% in the quarter, with 3.1% a quarter ago. GDP is expected to fall to 13.9%.
Data from the Federal Bureau of Statistics show that Swiss retail sales increased during a tight operating day to 1.1% year-on-year in June. According to the month, seasonally adjusted retail sales declined by 3.8% in June, while in nominal terms, retail sales increased by 0.4% compared to the year in June and 3.6% compared to the previous month.