(RTTNews) – European stocks closed weak on Friday, with Amazon’s disappointing earnings update and additional losses in Chinese markets amid considerations about China’s political dangers that outweigh the knowledge that looks like a sharp rebound in eurozone economic expansion in the current quarter.
Concerns about the delta variant of the coronavirus have also weighed in on several places in Europe.
The pan-European Stoxx fell 0. 45%. Britain’s FTSE 100 lost 0. 65%, Germany’s DAX fell 0. 61% and France’s CAC 40 closed down 0. 32%. The Swiss SMI gained 0. 25%.
Among the markets in Europe, Austria, Belgium, Finland, Ireland, the Netherlands, Norway, Poland, Portugal, Russia, Spain and Sweden ended weak.
In the UK market, Intertek fell 8% even though the product and insurance testing organisation announced an increase in its earnings in the first part of the year.
IAG fell 7. 4% after falling to a half-yearly loss of 2,000 million euros (1,700 million pounds). Intermediate Capital Group, Weir Group, Informa, Whitbread, Rolls-Royce Holdings, Melrose Industries, BP, Evraz and Compass Group 2-4%.
Anglo American, Rio Tinto, Antofagasta, BHP Group and Glencore mining shares were launched due to the development of considerations on the regulation of a diversity of personal corporations in China.
NatWest Group closed down more than 1% despite the bank’s return to earnings and the announcement of plans for a new circular of dividends and percentage buybacks.
Rightmove, Segro, Croda International, Avast, Sage Group, United Utilities, Just Eat Takeaway, Unilever, Auto Trader Group and BT Group ended sharply higher.
In the French market, Unibail Rodamco, Air France-KLM, Carrefour, Engie, Technip, Thales and Safran 2 to 4%.
Renault fell nearly 3% after the company said disruptions to the chain of origin and emerging commodity costs may simply reduce the further recovery in profitability this year.
Atos, Crédit Agricole, WorldLine, STMicroElectronics and Sodexo closed significantly.
Essilor rose nearly 4% after raising its annual targets, Saint Gobain rose 3. 2%, while Legrand, Schneider Electric and Danone rose 2%-2. 25%.
In Germany, Fresenius Medical Care fell more than 3% despite posting better-than-expected effects in the current quarter and raising its profit forecast for 2021. Fresenius and Lufthansa also lost more than 3%.
Thyssenkrupp, Infineon Technologies, Deutsche Post, Bayer, Daimler and Deutsche Bank lost 1-2. 3%, while Linde’s inventory gained nearly 3%.
The initial quick estimate published through Eurostat showed that the euro area’s gross domestic product grew by 2% sequentially in the current quarter, reversing the 0. 3% fall recorded in the past consistent with the year.
Inflation in the euro zone accelerated more than expected in July, rising by 2. 2% during the month compared to 1. 9% in June, according to Eurostat flash data.
Another initial Eurostat report showed that the euro’s unemployment rate fell to 7. 7% in June (the lowest point in more than a year), falling for the time being in a row, after reaching 8% in May. at the starting point of 7. 9% in May.
The French economy recovered at a faster rate than expected in the current quarter, supported by household spending and investment, according to flash knowledge from the INSEE statistics. expected a quarterly expansion of 0. 8%.
At the time of the quarter, GDP decreased by 3. 3% compared to the fourth quarter of 2019, compared to 4. 2% in the last two quarters, the statistics office said.
Germany’s gross domestic product rose by 1. 5% compared to the first quarter, while it fell by 2. 1%, according to data from Destatis. However, the expansion at the quarter time is slower than the expected expansion of 2%.
On an annual basis, GDP grew to 9. 2% on a calendar basis, to a 3. 1% decline in the first quarter. GDP is expected to grow by 9. 6%.