European stocks closed mixed on Friday, as investors stayed a bit cautious amid uncertainty about direction after markets hit record highs in recent sessions.
Some disappointing economic data from the euro area, signs of rising inflation in China, worries about rising coronavirus cases and extended lockdown measures in several countries weighed on stocks.
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 edged up 0.08%. The U.K.’s FTSE 100 slid 0.38%, while Germany’s DAX and France’s CAC 40 advanced 0.21% and 0.06%, respectively. Switzerland’s SMI climbed 0.28%.
Among other markets in Europe, Austria, Belgium, Ireland, Poland, Portugal, Russia, Spain and Turkey closed weak.
Netherlands and Norway ended flat, while Czech Republic, Denmark, Finland, Greece, Iceland and Sweden ended higher.
In the UK market, JD Sports Fashion rallied more than 5%. Spirax-Sarco Engineering, Weir Group, Taylor Wimpey, Burberry Group, Barratt Developments, Kingfisher, Persimmon and Croda International gained 1 to 2.5%.
On the other hand, British American Tobacco, BAE Systems, IAG, Glencore, Entain, Fresnillo, Rio Tinto and Standard Chartered gained 1.4 to 2.5%.
In the French market, WorldLine, Atos, Legrand, Air France-KLM, Veolia, Saint Gobain and Kering closed notably higher, while Valeo, Carrefour, Societe Generale, Renault, Safran and Michelin ended lower by 1.2 to 3%.
In Germany, Deutsche Post, Fresenius, Merck, Adidas, SAP and Daimler gained 1 to 2%. Thyssenkrupp declined more than 2.5%. Continental, Deutsche Wohnen, Lufthansa, Deutsche Telekom and Infineon Technolgies also ended notably lower.
In economic news, German industrial output dropped 1.6% month-on-month in February, while economists had forecast an increase of 1.5%, figures from Destatis revealed.
French industrial production decreased 4.7% month-on-month in February following a 3.2% rise in January, data from the statistical office INSEE showed. Economists had forecast a 0.5% gain.
Germany’s exports continued to grow in February and imports rebounded more than expected, data from Destatis revealed. The trade surplus fell to a seasonally adjusted about EUR 19.2 billion from EUR 21.3 billion a month ago. The expected level was EUR 20 billion.
Switzerland’s jobless rate decreased in March, data from the State Secretariat for Economic Affairs showed. The jobless rate fell a seasonally to 3.4% in March from 3.6% in February. Economists had expected a rate of 3.6%.
On an unadjusted basis, the unemployment rate fell to 3.3% in March from 3.4% in the previous month. Economists had forecast a rate of 3.6%.
Market Analysis
European Stocks Close Mixed After Choppy Session
2021-04-09 18:19:53
