Europe Markets Archives | Email alerts

July 13, 2021, 4:39 a.m. EDT

European stocks tread water after French and German data release, as eyes turn to key U.S. inflation measure

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
    FTSE 100 Index (UKX)
  • X
    CAC 40 Index (PX1)

or Cancel Already have a watchlist? Log In

By Jack Denton

Stock markets in Europe opened slightly lower but were holding firm after French and German data indicated muted rises in inflation last month, as all eyes turned to the release of the key U.S. Consumer Price Index later in the day.

The pan-European Stoxx 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.17% fell 0.1% while in London the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.08% rose 0.3%. Paris’ CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.09% dipped 0.1% with Frankfurt’s DAX /zigman2/quotes/210597999/delayed DX:DAX +0.25% declining 0.1%. U.S. stock market futures were pointing down, set to slip from fresh highs reached on Monday, with Dow industrials futures /zigman2/quotes/210598065/realtime DJIA -0.23% indicating an open 30 points lower. The index climbed more than 125 points Monday to close at 34,996.

Analyst Michael Hewson of CMC Markets expected European stocks to be “broadly unchanged,” as the focus for Tuesday centered on inflation data. 

Both France and Germany released data showing the rise in consumer prices. France’s Consumer Price Index, or CPI, rose 0.1% between May and June, below expectations of 0.2% and down from 0.2% in the last period, while German CPI rose 2.3% year-over-year in line with expectations and the same as the prior period. 

Also read: Stay bullish and buy dips in the S&P 500 because it will keep grinding higher, says this strategist

Upbeat trading in Asia came after the Dow /zigman2/quotes/210598065/realtime DJIA -0.23% , S&P 500 /zigman2/quotes/210599714/realtime SPX -0.15% , and Nasdaq /zigman2/quotes/210598365/realtime COMP -0.31% all reached record highs on Monday, ahead of the U.S.’ own inflation data release and before corporate earnings season gets under way in earnest.

“This positive vibe could seep into European shares before earnings kick off later in the day with JPMorgan /zigman2/quotes/205971034/composite JPM -0.89% and Goldman Sachs /zigman2/quotes/209237603/composite GS -0.67% reporting their numbers,” said Lukman Otunuga, an analyst at FXTM. “Investors will also be dished a serving of U.S. inflation data this afternoon which could offer clues over the Federal Reserve’s timeline for easing its bond purchases.”

British bank stocks got a boost after the Bank of England scrapped its COVID-19 pandemic-era restrictions on bank dividends and share buybacks, saying its stress test showed the sector was resilient enough to handle any more economic shocks from COVID-19. Shares in HSBC /zigman2/quotes/203901799/delayed UK:HSBA +0.59% , Barclays /zigman2/quotes/208409333/delayed UK:BARC -0.15% , Lloyds /zigman2/quotes/202285510/delayed UK:LLOY -0.41% , and NatWest /zigman2/quotes/209265718/delayed UK:NWG -0.27% jumped in London, buoying the FTSE 100.

Plus: Tesla and these other stocks should be boosted as a key electric-vehicle subsidy gets extended, says UBS

Nokia /zigman2/quotes/203672305/delayed FI:NOKIA +0.79% stock climbed more than 6% in Helsinki, after the Finnish telecommunications group said it expects to revise upwards its prior guidance for 2021 when it reports quarterly earnings at the end of the month. The company had previously guided for sales between €20.6 billion ($24.4 billion) and €21.8 billion, with an operating margin of between 7% and 10%.

Shares in meal-kit delivery group HelloFresh /zigman2/quotes/203376622/delayed XE:HFG -0.74% fell 0.4%, after the German group agreed to acquire Australia’s Youfooz in an expansion into ready meals. The deal, for 0.93 Australian dollars per share, values Youfoodz at A$125.3 million ($93.7 million), and represents a 79% premium to the Youfoodz stock price on Monday.

The German-listed shares of Qiagen /zigman2/quotes/207694261/delayed XE:QIA -0.63% — also traded in New York — fell near 4% after the group lowered its outlook. The genetic testing company and a key supplier of coronavirus tests said that the faster-than-expected uptake of COVID-19 vaccines has weighed on test demand.

/zigman2/quotes/210599654/delayed
XX : STOXX
439.76
+0.73 +0.17%
Volume: 0.00
Aug. 18, 2022 3:43p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,521.97
+6.22 +0.08%
Volume: 166,569
Aug. 18, 2022 2:43p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,534.52
+6.20 +0.09%
Volume: 22,849
Aug. 18, 2022 3:43p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,661.03
+34.32 +0.25%
Volume: 22,745
Aug. 18, 2022 3:43p
loading...
/zigman2/quotes/210598065/realtime
add Add to watchlist DJIA FUTURES
US : Dow Jones Global
33,901.35
-78.97 -0.23%
Volume: 320.97M
Aug. 18, 2022 9:58a
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,901.35
-78.97 -0.23%
Volume: 320.97M
Aug. 18, 2022 9:58a
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,267.77
-6.27 -0.15%
Volume: 2.22B
Aug. 18, 2022 9:58a
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
12,897.45
-40.68 -0.31%
Volume: 864.24M
Aug. 18, 2022 9:58a
loading...
/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 121.49
-1.10 -0.89%
Volume: 542,718
Aug. 18, 2022 9:58a
P/E Ratio
9.77
Dividend Yield
3.29%
Market Cap
$359.50 billion
Rev. per Employee
$475,915
loading...
/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 351.38
-2.37 -0.67%
Volume: 102,387
Aug. 18, 2022 9:58a
P/E Ratio
7.95
Dividend Yield
2.84%
Market Cap
$121.49 billion
Rev. per Employee
$1.24M
loading...
/zigman2/quotes/203901799/delayed
UK : U.K.: London
540.80 p
+3.17 +0.59%
Volume: 3.45M
Aug. 18, 2022 2:42p
P/E Ratio
10.59
Dividend Yield
4.15%
Market Cap
£108.85 billion
Rev. per Employee
£229,194
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
168.42 p
-0.26 -0.15%
Volume: 6.63M
Aug. 18, 2022 2:43p
P/E Ratio
N/A
Dividend Yield
3.71%
Market Cap
£27.25 billion
Rev. per Employee
£292,022
loading...
/zigman2/quotes/202285510/delayed
UK : U.K.: London
45.60 p
-0.19 -0.41%
Volume: 15.62M
Aug. 18, 2022 2:43p
P/E Ratio
7.55
Dividend Yield
4.67%
Market Cap
£31.34 billion
Rev. per Employee
£712,346
loading...
/zigman2/quotes/209265718/delayed
UK : U.K.: London
£ 262.10
-0.70 -0.27%
Volume: 2.45M
Aug. 18, 2022 2:42p
P/E Ratio
9.73
Dividend Yield
0.04%
Market Cap
£27.31 billion
Rev. per Employee
£241,799
loading...
/zigman2/quotes/203672305/delayed
FI : Finland: Helsinki
5.01
+0.04 +0.79%
Volume: 2.33M
Aug. 18, 2022 4:43p
P/E Ratio
16.93
Dividend Yield
1.60%
Market Cap
€28.12 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203376622/delayed
XE : Germany: Xetra
28.01
-0.21 -0.74%
Volume: 643,716
Aug. 18, 2022 3:43p
P/E Ratio
27.63
Dividend Yield
N/A
Market Cap
€4.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207694261/delayed
XE : Germany: Xetra
46.95
-0.30 -0.63%
Volume: 73,292
Aug. 18, 2022 3:42p
P/E Ratio
23.82
Dividend Yield
N/A
Market Cap
€10.74 billion
Rev. per Employee
€333,067
loading...

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.