Bulletin
Investor Alert

New York Markets Close in:

Europe Markets Archives | Email alerts

April 29, 2021, 10:41 a.m. EDT

Gains fade for Europe, despite strong earnings at Nokia and Unilever

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
    CAC 40 Index (PX1)

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer

European stocks turned flat on Thursday, with strong earnings from Nokia, Unilever and Royal Dutch Shell contending with downbeat data from Germany and rising bond yields.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.65% flipped a 0.5% gain from earlier to trade down 0.2% at 439.48. The German DAX /zigman2/quotes/210597999/delayed DX:DAX -1.09% slid 0.8%, not helped by a surprise rise in jobless claims. The French CAC /zigman2/quotes/210597958/delayed FR:PX1 -0.70% was flat and the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.17% rose 0.2%, each helped by gains for major oil companies.

U.S. stocks opened with upbeat results from device maker Apple /zigman2/quotes/202934861/composite AAPL -2.22% and social-media platform Facebook and more results on Thursday, such as equipment maker Caterpillar /zigman2/quotes/203434128/composite CAT -0.87% .

Government bond yields were rising on both sides of the Atlantic /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.11% /zigman2/quotes/211347112/realtime BX:TMBMKDE-10Y +0.96% on Thursday, after U.S. data showed stronger-than-expected growth in the first quarter of 6.4% . Some downbeat news came from Germany, where jobless claims rose by 9,000 in April, after a 6,000 drop in March and forecasts for a 10,000 drop.

Nokia /zigman2/quotes/207421390/composite NOK -1.76% /zigman2/quotes/203672305/delayed FI:NOKIA -2.22% led a barrage of earnings, with shares of the Finnish telecoms-equipment maker reporting forecast-beating profit and revenue and backing guidance for 2021 and 2023. Shares led the Stoxx 600 with a 10% jump.

The energy sector saw a crop of upbeat results. Shares of Royal Dutch Shell climbed 1.5%, as the company reported stronger first-quarter earnings, as oil and gas prices continued to recover. France’s Total reported similarly strong results and shares also rose 1.5%. And Equinor /zigman2/quotes/202462536/composite EQNR -0.41% /zigman2/quotes/203290881/delayed NO:EQNR -1.13% shares jumped 2.4%, after the state-owned Norwegian multinational energy group swung to a net profit and lifted its dividend.

Elsewhere, consumer-goods giant Unilever /zigman2/quotes/204685760/composite UL +0.21% /zigman2/quotes/205449809/delayed UK:ULVR +1.01% said adverse currency effects hit turnover in the first quarter, but that full-year sales should meet multiyear growth targets , and a share-buyback program will begin next month. Unilever shares jumped 1.5%.

Shares of Airbus /zigman2/quotes/208224336/delayed FR:AIR -5.68% climbed 2.7% after the aerospace giant swung to a net profit in its first quarter and confirmed its guidance for 2021.

Deutsche Lufthansa /zigman2/quotes/201210530/delayed XE:LHA -0.52% said it expects a significant rebound in air travel in the second half of the year, after booking a narrower net loss in the first quarter. But shares of the German airline slipped 0.4%, after it said second-quarter demand will pick up only gradually. Analysts are also watching out for a possible capital increase.

Semiconductor manufacturer STMicroelectronics /zigman2/quotes/207734906/composite STM -1.92% /zigman2/quotes/203551318/delayed IT:STM -2.17% reported higher net profit and revenue for the first quarter amid strong demand for chips during a global shortage. Shares slipped 0.7%.

Clariant /zigman2/quotes/208575719/delayed CH:CLN -0.99% reported a profit rise and said it expects to achieve above-market growth, higher profitability, and stronger cash generation in the medium term from its continuing businesses. Shares of the Swiss chemical group fell 2.7%.

BASF /zigman2/quotes/209015666/delayed XE:BAS -1.40% /zigman2/quotes/206981351/delayed DE:BASA +2.48% reported a strong rise in sales and earnings in the first quarter, and lifted its guidance for the full year as the global economy is expected to improve. Shares of the German chemicals company fell 1.8%.

Automobile makers dragged on the downside as well, with shares of Renault /zigman2/quotes/200919924/delayed FR:RNO -1.13% , Volkswagen /zigman2/quotes/206919008/delayed XE:VOW -1.26% , Porsche Automobil /zigman2/quotes/202769371/delayed XE:PAH3 -1.09% , Daimler , and BMW /zigman2/quotes/202432319/delayed XE:BMW -0.62% all sliding by more than 2%.

BMW said on Thursday that it would cut production at two plants over a chip shortage that has been hitting the industry. U.S. auto giant Ford /zigman2/quotes/208911460/composite F -2.24% said a day earlier that it swung to a first-quarter profit, but would see a $2.5 billion hit from chip shortages.

/zigman2/quotes/210599654/delayed
XX : STOXX
437.85
-2.88 -0.65%
Volume: 0.00
Nov. 28, 2022 5:50p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
14,383.36
-158.02 -1.09%
Volume: 53,336
Nov. 28, 2022 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,665.20
-47.28 -0.70%
Volume: 66,176
Nov. 28, 2022 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,474.02
-12.65 -0.17%
Volume: 480,435
Nov. 28, 2022 4:59p
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 144.83
-3.29 -2.22%
Volume: 33.70M
Nov. 28, 2022 1:05p
P/E Ratio
23.79
Dividend Yield
0.63%
Market Cap
$2356.15 billion
Rev. per Employee
$2.40M
loading...
/zigman2/quotes/203434128/composite
US : U.S.: NYSE
$ 233.65
-2.06 -0.87%
Volume: 988,607
Nov. 28, 2022 1:04p
P/E Ratio
17.00
Dividend Yield
2.05%
Market Cap
$122.66 billion
Rev. per Employee
$525,720
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
3.70
+0.0042 +0.11%
Volume: 0.00
Nov. 28, 2022 1:03p
loading...
/zigman2/quotes/211347112/realtime
add Add to watchlist BX:TMBMKDE-10Y
BX : Tullett Prebon
2.00
+0.02 +0.96%
Volume: 0.00
Nov. 28, 2022 6:04p
loading...
/zigman2/quotes/207421390/composite
US : U.S.: NYSE
$ 4.74
-0.09 -1.76%
Volume: 10.11M
Nov. 28, 2022 1:04p
P/E Ratio
14.01
Dividend Yield
0.90%
Market Cap
$27.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203672305/delayed
FI : Finland: Helsinki
4.58
-0.10 -2.22%
Volume: 5.28M
Nov. 28, 2022 6:29p
P/E Ratio
14.72
Dividend Yield
1.75%
Market Cap
€26.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202462536/composite
US : U.S.: NYSE
$ 36.66
-0.15 -0.41%
Volume: 1.02M
Nov. 28, 2022 1:04p
P/E Ratio
4.84
Dividend Yield
1.69%
Market Cap
$117.44 billion
Rev. per Employee
$6.96M
loading...
/zigman2/quotes/203290881/delayed
NO : Norway: Oslo
kr 362.35
-4.15 -1.13%
Volume: 3.13M
Nov. 28, 2022 4:28p
P/E Ratio
5.06
Dividend Yield
N/A
Market Cap
kr1159.62 billion
Rev. per Employee
kr64.75M
loading...
/zigman2/quotes/204685760/composite
US : U.S.: NYSE
$ 49.77
+0.10 +0.21%
Volume: 1.23M
Nov. 28, 2022 1:05p
P/E Ratio
19.55
Dividend Yield
3.67%
Market Cap
$125.73 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205449809/delayed
UK : U.K.: London
4,155.00 p
+41.50 +1.01%
Volume: 1.98M
Nov. 28, 2022 4:35p
P/E Ratio
21.68
Dividend Yield
3.50%
Market Cap
£103.96 billion
Rev. per Employee
£322,051
loading...
/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
107.36
-6.46 -5.68%
Volume: 2.30M
Nov. 28, 2022 5:36p
P/E Ratio
21.75
Dividend Yield
1.40%
Market Cap
€89.62 billion
Rev. per Employee
€435,693
loading...
/zigman2/quotes/201210530/delayed
XE : Germany: Xetra
7.53
-0.04 -0.52%
Volume: 4.03M
Nov. 28, 2022 6:30p
P/E Ratio
52.94
Dividend Yield
0.00%
Market Cap
€9.05 billion
Rev. per Employee
€282,325
loading...
/zigman2/quotes/207734906/composite
US : U.S.: NYSE
$ 37.64
-0.73 -1.92%
Volume: 981,892
Nov. 28, 2022 1:04p
P/E Ratio
9.23
Dividend Yield
0.54%
Market Cap
$35.13 billion
Rev. per Employee
$316,243
loading...
/zigman2/quotes/203551318/delayed
IT : Italy: Milan
36.37
-0.81 -2.17%
Volume: 1.81M
Nov. 28, 2022 5:35p
P/E Ratio
9.55
Dividend Yield
0.63%
Market Cap
€33.75 billion
Rev. per Employee
€293,643
loading...
/zigman2/quotes/208575719/delayed
CH : Switzerland: SWX
CHF 16.00
-0.16 -0.99%
Volume: 627,794
Nov. 28, 2022 5:30p
P/E Ratio
9.26
Dividend Yield
2.50%
Market Cap
CHF5.33 billion
Rev. per Employee
CHF366,457
loading...
/zigman2/quotes/209015666/delayed
XE : Germany: Xetra
48.91
-0.70 -1.40%
Volume: 2.24M
Nov. 28, 2022 6:30p
P/E Ratio
8.69
Dividend Yield
6.95%
Market Cap
€44.36 billion
Rev. per Employee
€790,467
loading...
/zigman2/quotes/206981351/delayed
DE : Germany: Frankfurt
12.40
+0.30 +2.48%
Volume: 871.00
Nov. 28, 2022 1:19p
P/E Ratio
8.82
Dividend Yield
4.93%
Market Cap
€44.61 billion
Rev. per Employee
€790,467
loading...
/zigman2/quotes/200919924/delayed
FR : France: Euronext Paris
33.39
-0.38 -1.13%
Volume: 1.39M
Nov. 28, 2022 5:36p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€9.78 billion
Rev. per Employee
€281,064
loading...
/zigman2/quotes/206919008/delayed
XE : Germany: Xetra
180.75
-2.30 -1.26%
Volume: 39,390
Nov. 28, 2022 6:30p
P/E Ratio
5.58
Dividend Yield
4.15%
Market Cap
€82.18 billion
Rev. per Employee
€396,258
loading...
/zigman2/quotes/202769371/delayed
XE : Germany: Xetra
58.02
-0.64 -1.09%
Volume: 404,893
Nov. 28, 2022 6:30p
P/E Ratio
N/A
Dividend Yield
4.41%
Market Cap
€17.95 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202432319/delayed
XE : Germany: Xetra
83.44
-0.52 -0.62%
Volume: 1.22M
Nov. 28, 2022 6:30p
P/E Ratio
3.06
Dividend Yield
6.95%
Market Cap
€55.28 billion
Rev. per Employee
€1.11M
loading...
/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 13.77
-0.32 -2.24%
Volume: 18.79M
Nov. 28, 2022 1:05p
P/E Ratio
6.22
Dividend Yield
4.36%
Market Cap
$56.61 billion
Rev. per Employee
$829,158
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.