Gains of over 1.5% in Euro markets

The European indices continued in the intense volatility of the last period, making a significant reaction after the big losses yesterday.

In particular, the pan-European Stoxx 600 index ended with a rise of 1.66% to 407.34 points, led by the technology, media and retail sectors which strengthened by more than 3%, while in general almost all individual sectors of the index moved upwards .

In the same climate, the European high capitalization Stoxx 50 moved even better with gains of 1.85% to 3,421 points.

In individual European charts, Germany’s DAX ended at 12,594 points up 1.56%, France’s CAC 40 jumped 2% to close at 5,912 points, as did Britain’s FTSE 100 which rose 1.2% to 7,107 units.

The picture was similar in the Italian market with the FTSE MIB strengthening by 1% to finish at 20,920 points, but not in Spain where the IBEX 35 moved slightly lower with -0.14% at 7,948 points.

In individual stock moves, Just Eat Takeaway saw its stock rally nearly 14% after it emerged that Amazon had agreed to buy a 2% stake in GrubHub’s US subsidiary in order to give Prime members access.

Similarly EDF jumped 14.5% after France’s prime minister said the government would fully nationalize the country’s electricity company.

In macro news for the day, Eurozone consumers cut spending on food, drinks and tobacco for a second straight month in May as prices continued to rally, according to preliminary retail sales data released by Eurostat today.

In particular, sales in the food, beverage and tobacco category fell 3.6% year-on-year, but overall retail sales after a 1.4% slump in April rose 0.2% in May, beating analysts’ estimates. for a drop of 0.4%.

In Germany, factory orders rose in May, also defying analysts’ estimates that they expected them to ease due to runaway inflation and uncertainty from the war in Ukraine.

Finally, in the political developments that investors are following, the wave of resignations from the British government continues today, with the country’s media discounting the end of Johnson’s prime ministership in the coming weeks.

Johnson’s political survival will ultimately depend on whether “rebels” in the Tory party win a majority to pave the way for a new confidence vote in the near future.

Source: Capital

You may also like

Ireland will welcome 52 students from Gaza
World
Flora

Ireland will welcome 52 students from Gaza

Fifty -two Gaza students will arrive in Ireland this week, taking advantage of university scholarships, Ireland Foreign Minister Simon Harris