June 29, 2022

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Major European Markets Close On Mixed Note

2 min read

European stocks turned in a mixed performance on Tuesday with investors closely tracking the updates on the geopolitical front, and reacting to the latest batch of economic data from the region besides looking ahead to the release of the minutes of the Federal Reserve’s most recent policy meeting.

Worries about rising inflation, and Concerns about the economic impact of the ongoing war in Ukraine and looming sanctions on Russia following alleged atrocities by the Russian troops in Ukraine weighed on sentiment.

The 27-member EU is under pressure to extend sanctions to Russia’s oil and coal sectors for what appear to be war crimes in Ukraine.

The pan European Stoxx 600 edged up 0.19%. The U.K.’s FTSE 100 climbed 0.72%, while Germany’s DAX and France’s CAC 40 slid 0.65% and 1.28%, respectively. Switzerland’s SMI ended 0.29% up.

Among other markets in Europe, Belgium, Denmark, Finland, Portugal, Spain and Turkey closed higher.

Russia declined sharply on weak economic data. Austria, Czech Republic, Ireland, Netherlands, Poland and Sweden also ended weak, while Greece, Iceland and Norway closed flat.

In the UK market, National Grid, SSE, United Utilities, Croda International, GlaxoSmithKline and Severn Trent gained 3 to 3.6%.

Hargreaves Lansdown, B&M European Value Retail, Dechra Pharmaceuticals, British Land, Segro, Glencore, Diageo, AstraZeneca and BAE Systems gained 1.8 to 2.6%.

HomeServe shares moved higher after the home repairs and improvements business said it made very good progress in fiscal 2022, delivering an acceleration in performance compared to prior year, in line with expectations.

Airtel Africa tumbled nearly 4%. Melrose Industries, Endeavour Mining, Smiths Group, CRH, Ashtead Group, Barratt Developments, Aveva Group, Smurfit Kappa Group, Ferguson, Rolls-Royce Holdings, IAG and Kingfisher ended lower by 1.5 to 2.5%.

In the German market, HelloFresh surged up more than 4.5%. Deutsche Boerse, RWE, Symrise, Linde, Qiagen, Zalando and Deutsche Telekom gained 1 to…

2022-04-05 12:28:24

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