The major European markets finished mixed for the second straight day on Friday, unable to hold on to early gains.
Stocks were broadly higher as investors cheered signs of more stimulus from Beijing and data showing that the downturn in Eurozone manufacturing eased last month. But the markets turned lower after mixed employment data from the United States reignited concerns about the health of the global economy.
The DAX in Germany sank 106.74 points or 0.67 percent to finish at 15,840.34, while the FTSE in London rose 25.41 points or 0.34 percent to close at 7,464.54 and the CAC 40 in France slipped 19.93 points or 0.27 percent to end at 7,296.77.
In Germany, Volkswagen plummeted 4,18 percent, while Bayerische Motoren Werke tumbled 3.06 percent, Daimler Truck declined 1.26 percent, Vonovia slumped 1.18 percent, Siemens Energy sank 0.91 percent, Heidelberg Materials dropped 0.75 percent, Deutsche Post lost 0.51 percent, Infineon Technologies fell 0.42 percent, Deutsche Borse added 0.37 percent and Deutsche Bank collected 0.32 percent.
In London, Rolls-Royce tumbled 1.44 percent, while Shell jumped 1.37 percent, Centrica climbed 1.19 percent, Rentokil Initial slumped 1.00 percent, Haleon sank 0.81 percent, Persimmon shed 0.66 percent, Scottish Mortgage Investment gained 0.64 percent, British American Tobacco lost 0.55 percent, Vodafone rose 0.53 percent and Tesco was down 0.38 percent.
In France, Carrefour retreated 2,18 percent, Atos improved 1.62 percent, Veolia Environment slumped 0.80 percent, Orange added 0.70 percent, Vivendi gained 0.64 percent, Engie lost 0.47 percent, Societe Generale collected 0.23 percent, BNP Paribas fell 0.20 percent and Credit Agricole eased 0.05 percent.
In economic news, Eurozone factory activity extended its downward trend midway through the third quarter as production came under pressure due to rapidly weakening demand and an accelerated depletion of backlogs, the purchasing managers’ survey from S&P Global showed on Friday. The PMI score was 43.5 in August, up from July’s 38-month low 42.7.
The British manufacturing downturn deepened in August and was the steepest in more than three years as output and new orders fell at faster rates amid weak market conditions both domestically and internationally, survey results from S&P Global revealed Friday. The PMI dropped to a 39-month low of 43.0 in August from 45.3 in July.
Austria’s economy contracted more than estimated in the second quarter, Statistics Austria said on Friday. Gross domestic product decreased 0.7 percent on quarter in Q2, reversing a revised 0.4 percent rise in the second quarter. On a yearly basis, GDP fell 1.1 percent in the June quarter, reversing a 1.9 percent rise in the March quarter.
Market Analysis
European Shares Close Mixed On U.S. Jobs Data
2023-09-01 16:57:09
