European stocks ended mixed on Wednesday with investors largely making cautious moves, reacting to earnings announcements and the latest batch of economic data, and following cryptocurrency movements.
Easing worries about inflation, and continued optimism about global economic recovery aided sentiment. U.S. Treasury yields were mixed after Federal Reserve officials reiterated their dovish views on easy monetary policy and inflation.
Data from statistical office Insee showed France’s consumer confidence index rose to 97 in May from 95 in April. The reading came in line with economists’ expectations.
The manufacturing sentiment index advanced to 107 in May from 104 in the previous month. Economists had forecast the score to rise moderately to 106. This was the highest score since August 2018, when the reading was 109.
The pan European Stoxx 600 ended flat. The U.K.’s FTSE 100 and Germany’s DAX edged down 0.04% and 0.09%, respectively. France’s CAC 40 ended slightly up, while Switzerland’s SMI climbed 0.38%.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Iceland, Netherlands, Norway, Spain and Sweden ended weak.
Greece, Ireland, Poland, Portugal, Russia and Turkey closed higher.
In the UK market, Aveva Group, Croda International, Associated British Foods, Entain, Weir Group, Berkeley Group, Whitbread, Flutter Entertainment, BT Group, Coca-Cola and Burberry Group gained 1 to 3%.
Marks & Spencer shares surged up more than 8% despite the retailer reporting an 88% plunge in annual profit.
Intertek Group shares tumbled 5% after the company reported like-for-like revenue growth of 2.7% for the Jan-April 2021 period, and said it is on track to deliver 2021 targets for revenue, margin accretion and free cash flow.
British Land Company shares declined 3.65% after the firm reported it third consecutive annual loss. Ocado Group shed about 3.8%. Rolls-Royce Holdings, Standard Chartered, Experian, Prudential and Lloyds Banking also ended notably lower.
In the French market, Technip and Unibail Rodamco both ended higher by over 2%. Kering, Sodexo, Michelin, Essilor, ArcelorMittal and Hermes International gained 1 to 1.6%.
Carrefour plunged nearly 4%. Societe Generale, Danone, BNP Paribas, Air France-KLM, Credit Agricole and Safran lost 1 to 2%.
In Germany, Vonovia, Daimler, Thyssenkrupp, Deutsche Post, HeidelbergCement, SAP, Volkswagen and BMW closed higher, while MTU Aero Engines, Deutsche Bank, Munich RE, RWE and Fresenius ended weak.
European Stocks Close Mixed After Cautious Session
2021-05-26 17:53:56
