PARIS / LONDON (dpa-AFX) – On Friday, the European stock exchanges continued their fluctuations of the past few days. After the US stock exchanges had given up their at times significant gains the evening before, the stock exchanges in Germany also came under pressure. When the last trading day of the week got off to a solid start in New York, the EuroStoxx 50 (EURO STOXX 50) was able to reduce its minus again. The leading index of the euro zone fell 1.15 percent over the finish line at 4136.91 points. It’s down 2.2 percent over the week.
In Helaba’s view, the question of where the interest rate policy journey is headed kept investors tense over the past trading week. January is actually one of the good stock market months, but the weak start to the year was a foretaste that 2022 would be a difficult year for investors. “All in all, the factors of uncertainty that had come together recently were too much,” said experts, also with a view to the Ukraine conflict and the ongoing pandemic.
In Paris, the CAC 40 pared its losses, ending 0.82 percent lower at 6965.88 points. The British FTSE 100, however, remained under a little more pressure, in the end it lost 1.17 percent to 7466.07 points in London.
Disappointing economic data added to the weak picture. The economic mood in the euro zone had surprisingly clouded over in January. After the significant decline in the previous month, the mood in the service sector deteriorated again. But the mood also clouded over in industry, in the construction industry and among consumers. In retail it improved somewhat.
Against this background, textile retailer Hennes & Mauritz (HennesMauritz AB (HM, H&M)) surprised with positive news. The company got off to a good start in the current financial year and has set itself ambitious goals for the coming years. Stocks rose 5.5 percent in Stockholm, with the retail sector posting the biggest gains of just three positive industry indices, up 0.8 percent.
The French luxury goods group LVMH (LVMH Moet Hennessy Louis Vuitton) also surprised positively with its figures. With better business than before the corona pandemic and record sales, the group significantly exceeded analysts’ expectations. The share price increased by 3.2 percent at the top of the EuroStoxx.
Things didn’t look so good in the chemical sector. Here, figures from Swiss fragrances and food additives maker Givaudan spoiled sentiment. Higher raw material costs weighed on the margins. The share fell by 6.5 percent on the Zurich stock exchange.
However, the commodity and auto sectors tended to be even weaker. From the latter industry environment, the Volvo shares (Volvo AB (B)) lost more than three percent. In the fourth quarter, increased material costs and problems in the supply chain had eaten away at the commercial vehicle manufacturer’s profit. The global supply of semiconductors and other parts remains unstable, said CEO Martin Lundstedt./tih/he
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