European stock markets enter August with mixed signs and restrained movements, with the investment mood softening after the strong gains shown by the Euro markets on Friday and also in July as a whole, which recorded its best monthly performance since November 2020 with a “jump” 6.3%.
Investors continue to weigh the barrage of corporate results as well as macro figures announced in Europe. At the end of last week, Eurostat data showed that the Eurozone economy continued to grow in the second quarter of 2022, despite strong pressures from the energy crisis and a rally in inflation.
In particular, in the second quarter the GDP of the Eurozone increased by 0.7% compared to the previous one, surpassing the estimates of analysts who spoke of a growth of only 0.2% in a Bloomberg poll. In contrast, however, prices continued to rally in July as inflation continued to gain momentum from the unprecedented jump in energy costs.
According to the initial estimate, annual inflation is expected to climb to 8.9% in July from 8.6% in June.
In the field of results, Heineken announced today higher than expected first half profitsas consumers bought more beer despite inflationary pressures, but the world’s second-biggest brewer cut its margin target in 2023 as costs rose.
In this climate, The pan-European index Stoxx 600 it moves with marginal fluctuations above 438 points, with the banking sector adding 1.3%, while the travel and leisure sector declines by 0.5%.
In the individual boards, the German DAX falls marginally to 13,475 units, the French CAC 40 loses 0.15% to 6,440 units, while the British FTSE 100 adds 0.35% to 7,450 points.
In the periphery the Italian FTSE MIB the Spanish also gains 0.31% at 22,475 points IBEX 35 adds 0.25% to 8,175 points.
In the individual shares Pearson jumps more than 6.5% to top the Stoxx 600, since the British company announced strong quarterly resultswhile HSBC gains 5.8% after raising its earnings target.
At the bottom, Swedish real estate company SBB is down more than 8% after Goldman Sachs downgraded the stock from “neutral” to “sell.”
Most markets in the Asia-Pacific region moved higher on Monday in the wake of the data for the Chinese factory activity which grew at a slower pace in July, according to a private survey, as the country’s strict coronavirus restrictions eased, or were confined to less economically important areas of the country, lessening the economic impact.
Source: Capital
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