[런던=뉴스핌] Correspondent Jang Il-hyeon = On the 25th (local time), stock markets in major European countries closed with mixed results. Investment sentiment was not very bright as companies’ performance did not meet market expectations.
The STOXX600 index, a pan-European index, closed at 518.81, down 0.17 points (0.03%) from the previous day. It moved slightly up and down without much amplitude around the closing price of the previous day, and then fell slightly. The index recorded its first weekly loss in three weeks.
The DAX index of the Frankfurt stock market in Germany closed at 19,463.59, up 20.59 points (0.11%), and the CAC40 index of the Paris stock market in France closed at 7,497.54, down 5.74 points (0.08%).
The FTSE 100 index of the London stock market closed at 8248.84, down 20.54 points (0.25%).
The FTSE-MIB index on the Milan stock market in Italy closed at 34,776.10, up 77.29 points (0.22%), and the IBEX35 index on the Madrid stock market in Spain closed at 11,812.50, down 27.30 points (0.23%).
European stock markets have surpassed all-time highs several times this year, but they appear to have lost some of their recent upward momentum as investors pay attention to individual company performance, trends in global interest rate cuts, and the outlook for the U.S. presidential election.
Reuters said, “According to London Stock Exchange Group (LSEG) data released earlier this week, 35.3% of STOXX600 companies that announced third-quarter results exceeded expectations,” adding, “This is less than the typical beat rate of 54%.” “level,” he said.
It’s been a while since we heard good news from Germany. The October Ifo business environment index, which reflects the perceived economic situation, recorded 86.5, up 1.1 points from 85.4 the previous month. It exceeded the market forecast of 85.6.
After hitting 89.2 last May, it continued to decline, but managed to rebound after 5 months. Ifo said, “The German economic downturn has put the brakes on for now.”
Robin Winkler, chief economist at Deutsche Bank in Germany, said, “Even if Germany’s growth rate records a slight negative this year, it would be more accurate to describe the current economic situation as a recession rather than a recession.” “The big picture is that the German economy has not grown for a year and remains at pre-corona pandemic levels,” he said.
Among the featured stocks, German automobile manufacturer Mercedes-Benz fell 0.98% with the announcement that its third quarter operating profit and sales performance fell far short of expectations.
Operating profit before interest and corporate taxes (EBIT) in the third quarter of this year was only 2.517 billion euros, a whopping 48.0% decrease from 4.842 billion euros in the same period last year. Sales of 37.01 billion euros decreased by 6.7%.
France’s Valeo, an auto parts manufacturer, plunged 9.45% as it lowered its annual sales guidance for the second time this year.
Swedish home appliance company Electrolux plummeted 14.61% as its third-quarter performance fell below expectations due to 10 consecutive quarters of losses in the U.S. market and intensifying competition with Chinese companies.
French drugmaker Sanofi, on the other hand, rose 2.54% after posting higher-than-expected revenue growth than analysts expected thanks to a faster-than-expected vaccination season.
