European shares closed virtually unchanged on Thursday (13), as losses in defensive sectors were offset by gains in shares of automakers and technology companies, amid hopes of improving semiconductor supplies.
The pan-European STOXX 600 index closed down 0.03% at 486.05 points. Health and personal and household goods stocks led the losses, falling 0.9% and 1.2%, respectively.
A recent rise in bond yields has weighed on most defensive sectors as investors expect rising inflation to lead to monetary policy tightening across the developed world this year.
The STOXX 600, which hit a record high earlier in the year, has been struggling to hold on to gains as investors remain concerned about the impact of higher inflation, the Ômicron variant and supply pressures.
Automakers were the best performers of the day, up 1.8%, after TMSC, the world’s biggest chipmaker by contracts, posted record quarterly profit and signaled plans to increase production.
Chip shortages forced several automakers to cut production last year, weighing on auto sales.
Tech shares rose 0.7%, supported by gains in major chipmakers such as BE Semiconductors, ASM International and Soitec.
- In London, the Financial Times index advanced 0.16%, to 7,563.85 points;
- In Frankfurt, the DAX index rose 0.13% to 16,031.59 points;
- In Paris, the CAC-40 index lost 0.50%, to 7,201.14 points;
- In Milan, the Ftse/Mib index appreciated by 0.47%, at 27,844.45 points;
- In Madrid, the Ibex-35 index registered an increase of 0.53%, at 8,816.90 points;
- In Lisbon, the PSI20 index gained 0.74%, at 5,706.07 points
Reference: CNN Brasil
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