Bulletin
Investor Alert

Europe Markets Archives | Email alerts

Dec. 27, 2018, 1:02 p.m. EST

Europe stocks return from Christmas break to end lower as BP and pharmas slump

Shares of Sage Group bucked the downbeat trend, finishing up 3.5%

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    STOXX Europe 600 Index (SXXP)
  • X
    DAX (DAX)
  • X
    FTSE MIB Index (I945)

or Cancel Already have a watchlist? Log In

By Emily Horton


Getty Images
A worker stands next to a turbine at the Siemens gas turbine factory on March 2, 2017 in Berlin, Germany.

Most European stock indexes on Thursday booked sharp losses, as weaker oil prices and a retreat following Wednesday’s stunning equity-market surge weighed on sentiment.

BP PLC and Siemens AG are among the biggest blue-chip movers.

How are the markets performing?

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +1.65% fell by 1.7% to 329.58. The index finished 0.4% lower on Monday just before the markets closed for the Christmas break, a session that marked the weakest close since Nov. 8, 2016.

The German DAX /zigman2/quotes/210597999/delayed DX:DAX +1.22% slumped 2.4% to 10,381.51 and Italy’s FTSE MIB /zigman2/quotes/210598024/delayed IT:I945 +1.06% finished 1.8% lower to 18,064.62. Meanwhile, the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.95%  ended 1.5% lower at 6,584.68, having finished 0.5% down on Christmas Eve.

Losses for France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.40% were less intense, as that index closed down 0.6% to 4,598.61.

As the dollar fell, the euro /zigman2/quotes/210561242/realtime/sampled EURUSD -0.1450% climbed to $1.1389, compared with $1.1353 in New York late on Monday, while the British pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.2578% was largely unchanged at $1.2636 from $1.2632.

What is driving markets?

Dragging the DAX, the biggest decliner among European bourses, headlined Thursday’s pullback, as shares of industrial giant Siemens /zigman2/quotes/200873563/delayed DE:SIE +1.53%  sank 2.4%.

Meanwhile, U.S. stocks fell Thursday, a day after a strong rally that reversed a battering for equities on Christmas Eve. Wednesday saw all three major indexes log the strongest one-day gains since March 23, 2009, on a percentage basis, and it was the best ever day-after-Christmas performance for the gauges.

A series of statements from senior White House aides that Trump wasn’t about to fire Jay Powell, Chair of the Federal Reserve, was received well by the markets on Wednesday, with the Dow soaring about 1,086 points after an afternoon rally.

Oil, both crude oil  and Brent futures dropped sharply, putting major oil companies under pressure.

Thursday marked the sixth day of the partial U.S. government shutdown, with neither President Trump or the Democrats showing signs of softening its stance over the funding for his proposed U.S.-Mexico border wall.

What stocks are active?

Nestlé SA /zigman2/quotes/210131093/delayed NSRGY -1.48%   /zigman2/quotes/208115528/delayed CH:NESN -0.35%  shares dropped 3.8%, while other heavyweights in the pharmaceutical sector — Novartis AG /zigman2/quotes/203286410/delayed CH:NOVN +2.63%   /zigman2/quotes/203243705/lastsale NVS +0.67%  and Roche Holding Ltd /zigman2/quotes/206324342/delayed CH:ROG +1.70% ended down by 2% and 3.2%, respectively.

Software and fashion sectors were in the green Thursday, with Sage Group PLC /zigman2/quotes/204528931/delayed UK:SGE -1.37% finished the session 3.5% lower, but luxury fashion house Burberry Group PLC /zigman2/quotes/205386705/delayed UK:BRBY +1.11% slipped 0.2%.

Among telecommunications companies, BT Group PLC /zigman2/quotes/209006687/delayed UK:BT.A -1.27%  dropped by 2.6%, while U.K. satellite company Inmarsat PLC  led the index’s decliners, with a 4.9% drop.

/zigman2/quotes/210599654/delayed
XX : STOXX
320.06
+5.18 +1.65%
Volume: 0.00
March 31, 2020 5:50p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
9,935.84
+119.87 +1.22%
Volume: 151,505
March 31, 2020 6:30p
loading...
/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
17,050.94
+178.53 +1.06%
Volume: 0.00
March 31, 2020 5:35p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
5,671.96
+108.22 +1.95%
Volume: 1.58M
March 31, 2020 4:56p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
4,396.12
+17.61 +0.40%
Volume: 151,397
March 31, 2020 6:05p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.1018
-0.0016 -0.1450%
Volume: 0.0000
March 31, 2020 10:24p
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2380
-0.0032 -0.2578%
Volume: 0.0000
March 31, 2020 10:24p
loading...
/zigman2/quotes/200873563/delayed
DE : Germany: Frankfurt
76.25
+1.15 +1.53%
Volume: 16,861
March 31, 2020 8:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€219,884
loading...
/zigman2/quotes/210131093/delayed
US : U.S.: OTC
$ 102.99
-1.55 -1.48%
Volume: 706,690
March 31, 2020 4:00p
P/E Ratio
23.79
Dividend Yield
2.25%
Market Cap
$301.08 billion
Rev. per Employee
$303,353
loading...
/zigman2/quotes/208115528/delayed
CH : Switzerland: SWX
CHF 99.45
-0.35 -0.35%
Volume: 10.51M
March 31, 2020 5:30p
P/E Ratio
23.14
Dividend Yield
2.71%
Market Cap
CHF287.43 billion
Rev. per Employee
CHF296,880
loading...
/zigman2/quotes/203286410/delayed
CH : Switzerland: SWX
CHF 79.85
+2.05 +2.63%
Volume: 10.37M
March 31, 2020 5:30p
P/E Ratio
15.85
Dividend Yield
3.69%
Market Cap
CHF176.22 billion
Rev. per Employee
CHF405,818
loading...
/zigman2/quotes/203243705/lastsale
US : U.S.: NYSE
$ 82.45
+0.55 +0.67%
Volume: 2.76M
March 31, 2020 6:30p
P/E Ratio
16.30
Dividend Yield
2.43%
Market Cap
$185.50 billion
Rev. per Employee
$415,614
loading...
/zigman2/quotes/206324342/delayed
CH : Switzerland: SWX
CHF 314.05
+5.25 +1.70%
Volume: 3.12M
March 31, 2020 5:30p
P/E Ratio
20.11
Dividend Yield
2.87%
Market Cap
CHF264.26 billion
Rev. per Employee
CHF601,914
loading...
/zigman2/quotes/204528931/delayed
UK : U.K.: London
591.80 p
-8.20 -1.37%
Volume: 4.34M
March 31, 2020 4:35p
P/E Ratio
24.36
Dividend Yield
2.86%
Market Cap
£6.54 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205386705/delayed
UK : U.K.: London
1,324.50 p
+14.50 +1.11%
Volume: 1.64M
March 31, 2020 4:35p
P/E Ratio
15.30
Dividend Yield
3.23%
Market Cap
£5.28 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209006687/delayed
UK : U.K.: London
117.90 p
-1.52 -1.27%
Volume: 38.26M
March 31, 2020 4:35p
P/E Ratio
5.40
Dividend Yield
13.06%
Market Cap
£11.79 billion
Rev. per Employee
N/A
loading...

Get news alerts on Euro and British Pound — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.