European stocks were subdued on Friday, with signs of rising inflation in China as well as weak industrial production data from Germany and France, the euro area’s two largest economies, denting sentiment.
The downside remained capped after the U.S. Federal Reserve repeated its pledge that monetary policy will likely remain unchanged for the foreseeable future.
The pan European Stoxx 600 was marginally lower at 436.45 after rising 0.6 percent in the previous session.
The German DAX slid 0.1 percent and the U.K.’s FTSE 100 dropped 0.3 percent, while France’s CAC 40 index edged up 0.1 percent.
LafargeHolcim rose half a percent. The building material company said Oscar Fanjul has decided to step down as Vice-Chairman.
Spanish construction company Actividades de Construccion y Servicios was down 0.6 percent. The company confirmed that it approached Italy’s Atlantia SpA in a display of interest in the firm’s domestic highway unit.
Evotec gained 1.2 percent. The drug discovery alliance and development partnership company announced that A2a receptor antagonist, which is in development for adult patients with advanced solid tumours, has entered human clinical trials.
TUI AG shares slumped 6 percent. The travel agency has launched an offering of senior unsecured bonds convertible due 2028 in an aggregate principal amount of approximately 350 million euros with the option to increase the issuance volume to 400 million euros.
Shares of Airbus rallied 2.4 percent after the aircraft maker announced it has stepped up aircraft deliveries last month.
British American Tobacco shares fell 2.4 percent after J.P. Morgan downgraded the stock to “neutral” from “overweight”.
On the other hand, sportswear retailer JD Sports Fashion jumped 2.7 percent after Berenberg raised its price target on the stock.
PageGroup, a specialist professional recruitment company, soared 10 percent after it reported a 2 percent increase in first-quarter profit.
In economic news, German industrial output dropped 1.6 percent month-on-month in February, while economists had forecast an increase of 1.5 percent, figures from Destatis revealed.
French industrial production decreased 4.7 percent month-on-month in February following a 3.2 percent rise in January, data from the statistical office INSEE showed. Economists had forecast a 0.5 percent gain.
Market Analysis
European Shares Subdued On Weak Data
2021-04-09 09:46:26
