(RTTNews) – European stocks fell on Friday as Amazon reported disappointing gains and losses in Chinese markets sparking debates about China’s political risks.
At the same time, the euro economy recovered in this quarter, according to the initial rapid estimate published through Eurostat.
Gross domestic product grew 2% sequentially, reversing the 0. 3% drop recorded in the past consistent with the year. The expansion rate was consistent with the 1. 5 cent-consistent expected.
On an annual basis, GDP recovered by 13. 7% after contracting by 1. 3% in the first quarter. GDP is expected to grow by 13. 2%.
Inflation reached 2. 2% in July compared to 1. 9% in June. The rate above the expected 2%.
The pan-European Stoxx 600 fell 0. 6% to 461. 01 after expanding the share to% on Thursday. Germany’s DAX lost around 1%, France’s CAC 40 index fell 0. 3% and Britain’s FTSE 100 lost 1%.
Italian lender UniCredit rose 4. 1% after posting a higher-than-expected profit.
Mining corporations Anglo American, Antofagasta and Glencore fell 2-3% due to the development of considerations on the strict regulation of personal corporations in China.
Pearson rose 3. 5%. The company increased its interim dividend after commenting on an improvement in sales across all lines of business in its last half of the year.
Intertek fell 7. 2% even though the product and insurance testing organization reported an increase in its earnings in the first part of the year.
British Airways’ IAG lost 6. 3% after falling to a half-year loss of 2 billion euros (£1,700 million).
BNP Paribas lost 0. 6%. The French lender announced a 26% increase in its net profit in the current quarter and said it would pay shareholders an additional dividend.
Airline Air France lost 1. 1% despite relief from its decline in the quarter.
German electric power distribution company RWE rose 0. 6% after raising its profit forecast for fiscal 21 in business.
Health care company Fresenius fell 4. 6% despite reporting better-than-expected second-quarter effects and raising its profit forecast for 2021.