(RTTNews) – European markets closed largely down on Friday, as knowledge of a contraction in eurozone economic expansion outpervised the encouraging profit reports of some giant companies.
Uncertainty about the speed of global economic recovery due to continued spikes in coronavirus cases in the Asian region, India and Japan has also affected.
The Pan-European Stoxx 600 index fell by 0. 31%. Germany’s DAX closed with a 0. 12% drop and France’s CAC 40 lost 0. 53%, while the UK FTSE 100 rose 0. 12%. Switzerland’s SMI fell by 0. 52%.
Markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Iceland, Ireland, the Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey ended up weak.
Smurfit Kappa Group shares rose by 4. 2%, also thanks to solid profits. The paper-based packaging response provider reported that its underlying earnings expanded by 6% in the first quarter compared to last year.
Hikma Pharmaceuticals, Hargreaves Lansdown, ICP, Imperial Brands, Rolls-Royce Holdings, M
By contrast, Barclays Group lost 7% despite a quarterly profit that more than doubled, Ocado Group lost 4% and Flutter Entertainment lost 3. 2%.
BNP Paribas, despite a better-than-expected outcome, helped reduce provisions for unscruccupied pandemic-like debts and an uptick in fair trade.
In France, STMicroElectronics, ArcelorMittal, Faurecia, Accor, Essilor, Air France-KLM, Pernod Ricard and LVMH recorded a sharp decline. BNP Paribas fell despite a better-than-expected benefit.
Kering, Saint Gobain, Bouygues, Vinci and Carrefour ended up with strong to moderate gains. Safran rose sharply after maintaining his annual prognosis.
In the German market, BASF fell by almost 5%. Adidas, HeidelbergCement, SAP and Covestro have closed.
MTU Aero Engines rose by almost 5% and Fresenius gained about 2. 5%. Lufthansa, Fresenius Medical Care and Bayer also closed with a note from the company.
The euro unemployment rate fell to 8. 1% in March, after 8. 2% in February and higher than expected to 8. 3%.
Inflation in France peaked in 14 months in April due to higher power and prices, according to initial knowledge of the Insee statistical workplace. In a separate statement, the statistical workplace showed that household intake declined dramatically in March due to a significant decrease in purchases of manufactured goods.
Consumer value inflation rose to 1. 3% in April, as expected, after 1. 1% in March, the highest since February 2020, when the rate was 1. 4%.
Space costs in the UK increased by 2. 1% year-on-year in April, the largest monthly accumulation since February 2004, according to knowledge published through the Nationwide Building Society. Economists had forecast a 0. 5% increase after a decrease of 0. 3% in March. .
On an annual basis, space value inflation increased to 7. 1% from 5. 7% in March. The rate is expected to drop to 5% in April.