Categories: Markets

Friday’s losses were erased by the euro markets led by retail trade

The main European indexes started the week with gains that offset the jitters from the overly strong US labor market.

In particular, the pan-European Stoxx 600 index finished trading at 438.92 points, up 0.73%, receiving a strong boost from the retail sector which closed with a 2.5% jump.

In the rest of the European charts, the German DAX moved with gains of 0.85% which brought it to 13,687 points, the French CAC 40 strengthened by 0.8% closing at 6,524 points, as well as the British FTSE 100 which ended at 7,482 points with + 0.5%.

The picture was similar in the markets of the region, where the Italian FTSE MIB strengthened by 0.6% to close at 22,727 points, while in Spain the IBEX 35 made a jump of 1.3% which brought it to 8,272 points.

On the macroeconomic data front, the eurozone’s economic sentiment indicator strengthened marginally in August, but continues to point to a slowdown in activity across the 19 economies of the common currency.

“In the same way that Schrödinger’s cat was both dead and alive at the same time, the global economy may be both in and out of recession – at least not yet,” notes HSBC economist James Pomeroy.

“The mixed messages have not cleared up, with a contraction in US GDP contradicting the monthly data, positive GDP surprises in Europe and a series of publications suggesting that consumers are continuing to spend despite the gloomy outlook” , he adds.

In individual stock moves, British financier Hargreaves Lansdown jumped 7% after Deutsche Bank upgraded its target price on the stock.

On the contrary, the also British Future presented significant losses of 5%.

Source: Capital

Share
Published by
Sophia

Recent Posts

USD/CAD Price Analysis: Clings to Recovery Gains Around 1.3550

USD/CAD makes a nice bounce from a multi-week low amid a rebound in demand for…

9 mins ago

SOS from the UN on the war in Ukraine: “It is taking humanity away from the fight for survival”

His concern for him war in Ukraine expresses once again the UN. Through his head…

19 mins ago

New fiscal rule is received with relief, concern and euphoria by the market

With relief, concern and a good dose of euphoria, the new fiscal rule was received…

37 mins ago

FTX Europe has opened a site for the return of funds to users

Registered CuSEC FTX Europe launched dedicated website, the functionality of which allows the European clients…

46 mins ago

EUR/JPY Price Analysis: The next bullish level is 146.70

EUR/JPY extends move higher and marks fresh 2023 highs. The December 2022 high near 146.70…

55 mins ago

Football, we went away with women’s As Roma to understand what has changed with professionalism

From this season, professionalism has entered women's football. Has it changed anything? We went on…

57 mins ago