(RTTNews) – European stocks ended weak on Tuesday, reacting to the news of accelerating inflation in the euro zone and comments through ECB Governing Council member Rob Holzmann that the central bank began discussing ending pandemic-era financial stimulus.
A big sale of airline and tourism stocks after EU governments accepted the resolution to eliminate the US. USA From the bloc’s safe list also weighed on the markets.
The pan-European six-hundred Stoxx lost 0. 38%. The UK’s FTSE 100 closed down 0. 4%, Germany’s DAX was down 0. 33% and France’s CAC 40 was down 0. 11%, while Switzerland’s SMI closed down 0. 2%.
Among european markets, Belgium, Denmark, Finland, Greece, Ireland, the Netherlands, Norway, Russia, Spain and Sweden ended weak.
In the UK market, B
Shares of Bunzl Plc fell sharply after the advertising source’s distributor reported that it faces supply chain disruptions, product shortages and labor shortages in some markets.
Weir Group rose 3. 8%. Ferguson gained 2. 75% after JP Morgan raised its value target at the distributor of plumbing and heating portions.
Just Eat Takeaway. com, Persimmon, Ashtead Group, Smiths Group, Entain, Pershing Square Holdings and British American Tobacco 1 to 2. 5%.
Atos grew more than 2. 5% and Essilor gained 2. 3%. WorldLine, Sodexo, Renault, Societe Generale and BNP Paribas gained between 1% and 1. 5%.
In Germany, Covestro, Deutsche Telekom, Deutsche Boerse, BASF, Vonovia, Puma, Infineon Technologies, Continental and MTU Aero Engines lost 1-3%, while BMW, Thyssenkrupp and RWE closed sharply higher.
Dutch technology investor Prosus NV gained nearly 5% after the company agreed to buy Indian payment platform BillDesk for $4. 7 billion.
Biotech company Medivir AB has made a strong recovery after receiving approval from the UK Medicines and Healthcare products Regulatory Agency for Phase 1/2a combined with MIV-818 against liver cancer.
According to the provisional estimate of Insee’s statistics office, customer costs in France increased at the fastest speed for about 3 years in August, largely thanks to the uptick in the costs of manufactured products related to the end of the summer of sales. The increase in customer costs increased by 1. 9% in August from 1. 2% in July. Economists had expected the inflation rate to rise to 1. 7%.
On a monthly basis, customer costs increased 0. 6% in August compared to a 0. 1% increase last month. Prices are expected to rise as much as 0. 4%.
France’s gross domestic product rose 1. 1 sequentially in the last quarter, according to the statistics office’s revised knowledge. Economists had expected a GDP expansion of 0. 9%.
The unemployment rate in Germany fell in July, falling to a seasonally adjusted 3. 6% from 3. 7% in June. Unadjusted, the unemployment rate remained at 3. 7% in July.
Approvals for home purchases, a gauge of long-term borrowing, fell extra in July to 75,152 from 80,272 in June, the lowest level since July 2020, but remained above pre-February 2020 points.