Bulletin
Investor Alert

New York Markets Open in:

×

Europe Markets Archives | Email alerts

Feb. 21, 2019, 10:14 a.m. EST

Europe’s markets struggle against downbeat earnings, economic news

Centrica, BAE Systems, AP Moeller Maersk fall on earnings

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
    Centrica PLC (CNA)

or Cancel Already have a watchlist? Log In

By Emily Horton


Getty Images

Europe’s markets were mixed on Thursday, struggling against a myriad of headwinds including weak economic data and earnings.

A batch of earnings data also drove action for a number of stocks, and leaned on some indexes.

How are markets performing?

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.23% lost 0.2% to 370.75 on Thursday, after finishing up 0.7% on Wednesday.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.10% led the region’s top decliners falling 0.9% to 7,180.85, pulled down by poorly received results from U.K. heavyweights Centrica PLC /zigman2/quotes/205228367/delayed UK:CNA +0.08% and BAE Systems PLC

Italy’s FTSE MIB index /zigman2/quotes/210598024/delayed IT:I945 +0.27% was next, dropping by 0.3% to 20,247.76, while France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.30% remained flat at 5,194.58.

Spain’s IBEX 35 /zigman2/quotes/210597995/delayed XX:IBEX +0.36%  gained 0.1% to 9,188.80 and the German DAX /zigman2/quotes/210223310/composite DAX +0.15%   rose by 0.3% to 11,431.

The euro /zigman2/quotes/210561242/realtime/sampled EURUSD -0.0634% remained flat on Thursday, at $1.1334, while the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.2076% climbed to $1.3066 from $1.3052 late in New York on Wednesday.

What’s driving the markets?

Business surveys released Thursday showed the eurozone’s manufacturing sector entered its first downturn since mid-2013, led by Germany. A batch of U.S. data was also released, which included weak durable goods orders and the Philly Fed manufacturing index that slid into negative territory.

Investors were reviewing a mixed bag of signals on Thursday, from fresh optimism over a trade truce between the U.S. and China, to minutes from the Federal Reserve that indicated a slightly higher chance of a rate increase this year than investors had anticipated.

What stocks are active?

Centrica PLC /zigman2/quotes/205228367/delayed UK:CNA +0.08%  slumped by 12%, after the FTSE 100 energy company warned it will struggle to reach cash flow targets in 2019 owing to exceptional charges. Although the company met its target for 2018, chief executive Iain Conn warned 2019 would be a challenge.

A.P. Moeller-Maersk A/S /zigman2/quotes/202892434/delayed DK:MAERSK.B +0.13%  fell by 7%, after its fourth quarter profit missed expectations, a drop chief executive Soren Skou put down to “a challenging start to 2018”. The world’s largest container shipping company acts as a global gauge for trade, at a time when the U.S. and China trade negotiations are on going.

Shares of U.K. defence company BAE Systems PLC   dropped by 7%, despite reporting a 14% profit increase, after the weapons maker said that Germany’s band on selling arms to Saudi Arabia could prove “difficult” for the company in the long run, City AM reported .

Barclays PLC /zigman2/quotes/208409333/delayed UK:BARC +1.00% , whose profits rose by a quarter in 2018, added 0.4%. The U.K. bank booked group pre-tax profits of £3.49 billion last year, while revenues were flat. Analysts at Jefferies described the figures as “a bit dull but possibly good enough.”

/zigman2/quotes/210599654/delayed
XX : STOXX
392.72
+0.92 +0.23%
Volume: 0.00
Sept. 20, 2019 1:54p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,363.62
+7.20 +0.10%
Volume: 509,723
Sept. 20, 2019 12:54p
loading...
/zigman2/quotes/205228367/delayed
UK : U.K.: London
73.64 p
+0.06 +0.08%
Volume: 10.41M
Sept. 20, 2019 12:52p
P/E Ratio
N/A
Dividend Yield
6.79%
Market Cap
£4.28 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
22,188.12
+59.88 +0.27%
Volume: 0.00
Sept. 20, 2019 1:54p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,675.79
+16.71 +0.30%
Volume: 59,494
Sept. 20, 2019 1:54p
loading...
/zigman2/quotes/210597995/delayed
XX : Spain: Madrid
9,169.20
+33.20 +0.36%
Volume: 135.67M
Sept. 20, 2019 1:54p
loading...
/zigman2/quotes/210223310/composite
US : U.S.: Nasdaq
$ 26.04
+0.04 +0.15%
Volume: 2,385
Sept. 19, 2019 3:16p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullet Prebon
1.1034
-0.0007 -0.0634%
Volume: 0.0000
Sept. 20, 2019 8:09a
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullet Prebon
1.2496
-0.0026 -0.2076%
Volume: 0.0000
Sept. 20, 2019 8:09a
loading...
/zigman2/quotes/205228367/delayed
UK : U.K.: London
73.64 p
+0.06 +0.08%
Volume: 10.41M
Sept. 20, 2019 12:52p
P/E Ratio
N/A
Dividend Yield
6.79%
Market Cap
£4.28 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202892434/delayed
DK : Denmark: OMX
kr. 7,810.00
+10.00 +0.13%
Volume: 7,689
Sept. 20, 2019 1:53p
P/E Ratio
N/A
Dividend Yield
1.92%
Market Cap
kr.160.97 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
151.98 p
+1.50 +1.00%
Volume: 22.45M
Sept. 20, 2019 12:54p
P/E Ratio
N/A
Dividend Yield
5.92%
Market Cap
£25.94 billion
Rev. per Employee
N/A
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.