European stocks were mixed on Friday amid lingering worries over inflation and looming central bank rate hikes.
The downside remained capped after data showed Germany’s factory orders grew more than expected in December, driven by robust domestic demand.
German factory orders grew 2.8 percent on a monthly basis, but slower than the 3.6 percent expansion seen in November, Destatis reported. Economists had forecast an increase of 0.5 percent.
On a yearly basis, growth in new orders accelerated to 5.5 percent from 2.3 percent in the previous month.
The pan European Stoxx 600 slipped 0.3 percent to 467.22 after plunging 1.8 percent in the previous session.
The German DAX shed 0.7 percent, while France’s CAC 40 index was marginally higher and the U.K.’s FTSE 100 added half a percent.
The euro headed for its best week since March 2020 after the European Central Bank finally acknowledged mounting inflationary risks and left the door open to rate hikes in 2022.
Energy stocks rallied on firmer crude oil prices. TotalEnergies SE rose 1.7 percent while both BP Plc and Shell jumped around 3 percent.
Saint-Gobain declined 1.6 percent. The French construction materials maker has inked a deal to sell its regional glass processing business Baltiklaas OU in Estonia, to Polar Glass OU, for an undisclosed sum.
Vinci rose more than 1 percent. The construction company expects net income this year to exceed its pre-pandemic level in 2019.
Beverage firm Carlsberg A/S rose over 1 percent after it launched a new strategy to reach 3-5 percent revenue growth the next 5 years.
TomTom NV lost as much as 13 percent after the Dutch consumer electronics firm missed its Q4 estimates.
Italy’s Intesa Sanpaolo dropped 1 percent. The bank is targeting higher earnings and profitability and plans to return 22 billion euros ($25.16 billion) to shareholders between 2021 and 2025.
European Shares Mixed Amid Inflation Concerns
2022-02-04 09:37:51
