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June 25, 2021, 10:15 a.m. EDT

European stocks struggle at the end of the week

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By Barbara Kollmeyer

European equities struggled for traction on Friday, as investors kept an eye on COVID-19 and economic recoveries, while Adidas was a standout gainer.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.85% was flat at 456.84, but up 1% for the week to date so far. The German DAX /zigman2/quotes/210597999/delayed DX:DAX -1.01% slipped 0.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -1.44% fell 0.4% and the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.77% gained 0.3%. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD -0.1574% rose, while the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.1244% was flat.

U.S. stocks /zigman2/quotes/210598065/realtime DJIA -0.38% /zigman2/quotes/210599714/realtime SPX -1.04% /zigman2/quotes/210598365/realtime COMP -1.59% opened higher following Thursday’s sharp gains on Wall Street after Biden said he had reached a deal with a bipartisan group of lawmakers on an infrastructure plan.

Markets cheered the prospect of the deal contributing momentum to the reopening of the U.S. economy, with some investors pencilling in more spending beyond what was outlined on Thursday.

Read: Infrastructure and the stock market — here’s what the $1 trillion deal means

“This, however, does not mean that it is a done deal, as the deal still needs more than 60 votes in the Senate and needs to be approved in the House, which is probably not going to be easy,” cautioned Mikael Olai Milhøj, chief analyst at Dankse Bank, in a note to clients.

In Europe, data showed German consumer sentiment is forecast to rise in July as the Covid-19 pandemic retreats and the economy reopens, according to data from the market-research group GfK released Friday.

A top gainer on the Stoxx 600 was adidas /zigman2/quotes/206448829/delayed XE:ADS -3.34% , with shares up close to 6% after U.S. rival sportswear maker Nike /zigman2/quotes/203439053/composite NKE -1.12% topped Wall Street revenue estimates by more than $1 billion in its fiscal fourth-quarter, in contrast to deep losses a year ago. Elsewhere, shares of JD Sports Fashion /zigman2/quotes/207007202/delayed UK:JD -1.66% climbed more than 3.5%.

Most airlines and travel stocks slipped even after the U.K. government added Malta, Madeira, Spain’s Balearics and some Caribbean nations to the so-called “green list” of places that won’t require travelers to quarantine upon returning home, as long as they test negative before returning and once they arrive. There was some disappointment that tourist hotspots such as Greece and mainland Spain were left off the list.

Ministers also said they may drop quarantine rules for fully vaccinated travelers returning home from countries on an amber list, with details to be announced next month.

But some European leaders reportedly said they planned to follow the advice of German Chancellor Angela Merkel and tighten up borders to keep out the highly contagious delta variant of COVID-19 that has spread across the U.K.

Shares of InterContinental Hotels Group /zigman2/quotes/204459500/composite IHG -0.74% /zigman2/quotes/202865596/delayed UK:IHG -1.00% , travel group TUI /zigman2/quotes/206000695/delayed XE:TUI1 +1.19% , cruise company Carnival /zigman2/quotes/210414141/delayed UK:CCL -3.66% and International Consolidated Airlines /zigman2/quotes/208070069/delayed UK:IAG -1.72% all dropped around 2% each. Shares of cut-rate airline easyJet /zigman2/quotes/202825892/delayed UK:EZJ -1.13% fell 1.5%.

Shares of pharmaceutical were also weighing on the downside, with shares of Novartis /zigman2/quotes/203286410/delayed CH:NOVN +0.06% /zigman2/quotes/203243705/composite NVS -0.29% , AstraZeneca /zigman2/quotes/200304487/composite AZN +0.46% /zigman2/quotes/203048482/delayed UK:AZN +0.02% and Novo Nordisk /zigman2/quotes/203484366/composite NVO +3.36% /zigman2/quotes/207193277/delayed DK:NOVO.B +1.86% all lower.

Auto makers were also under pressure, with Renault /zigman2/quotes/200919924/delayed FR:RNO -0.58% down 2% and Daimler off more than 1%.

/zigman2/quotes/210599654/delayed
XX : STOXX
456.87
-3.90 -0.85%
Volume: 0.00
Feb. 6, 2023 1:36p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,320.49
-155.94 -1.01%
Volume: 22,215
Feb. 6, 2023 1:36p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
7,129.81
-104.13 -1.44%
Volume: 21,931
Feb. 6, 2023 1:36p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,840.77
-61.03 -0.77%
Volume: 155,105
Feb. 6, 2023 12:36p
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/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0782
-0.0017 -0.1574%
Volume: 0.0000
Feb. 6, 2023 7:51a
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/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2071
+0.0015 +0.1244%
Volume: 0.0000
Feb. 6, 2023 7:51a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,926.01
-127.93 -0.38%
Volume: 0.00
Feb. 3, 2023 4:54p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,136.48
-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
12,006.95
-193.86 -1.59%
Volume: 6.01B
Feb. 3, 2023 5:16p
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/zigman2/quotes/206448829/delayed
XE : Germany: Xetra
155.68
-5.38 -3.34%
Volume: 176,174
Feb. 6, 2023 1:36p
P/E Ratio
22.00
Dividend Yield
2.12%
Market Cap
€27.45 billion
Rev. per Employee
€365,515
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/zigman2/quotes/203439053/composite
US : U.S.: NYSE
$ 127.61
-1.45 -1.12%
Volume: 4.93M
Feb. 3, 2023 4:00p
P/E Ratio
36.04
Dividend Yield
1.07%
Market Cap
$197.88 billion
Rev. per Employee
$621,403
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/zigman2/quotes/207007202/delayed
UK : U.K.: London
183.55 p
-3.10 -1.66%
Volume: 2.72M
Feb. 6, 2023 12:36p
P/E Ratio
29.09
Dividend Yield
0.26%
Market Cap
£9.67 billion
Rev. per Employee
£204,444
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/zigman2/quotes/204459500/composite
US : U.S.: NYSE
$ 71.06
-0.53 -0.74%
Volume: 104,957
Feb. 3, 2023 4:00p
P/E Ratio
30.07
Dividend Yield
1.83%
Market Cap
$12.28 billion
Rev. per Employee
$317,004
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/zigman2/quotes/202865596/delayed
UK : U.K.: London
5,726.00 p
-58.00 -1.00%
Volume: 40,136
Feb. 6, 2023 12:29p
P/E Ratio
32.35
Dividend Yield
1.84%
Market Cap
£10.14 billion
Rev. per Employee
£237,627
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/zigman2/quotes/206000695/delayed
XE : Germany: Xetra
2.05
+0.02 +1.19%
Volume: 1.72M
Feb. 6, 2023 1:36p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€3.62 billion
Rev. per Employee
€270,824
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/zigman2/quotes/210414141/delayed
UK : U.K.: London
857.40 p
-32.60 -3.66%
Volume: 552,240
Feb. 6, 2023 12:36p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£12.15 billion
Rev. per Employee
N/A
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
169.34 p
-2.96 -1.72%
Volume: 4.68M
Feb. 6, 2023 12:34p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.54 billion
Rev. per Employee
£232,926
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/zigman2/quotes/202825892/delayed
UK : U.K.: London
490.60 p
-5.60 -1.13%
Volume: 864,045
Feb. 6, 2023 12:33p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£3.75 billion
Rev. per Employee
£413,519
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/zigman2/quotes/203286410/delayed
CH : Switzerland: SWX
CHF 79.59
+0.05 +0.06%
Volume: 1.73M
Feb. 6, 2023 1:36p
P/E Ratio
26.42
Dividend Yield
4.02%
Market Cap
CHF174.47 billion
Rev. per Employee
CHF474,654
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/zigman2/quotes/203243705/composite
US : U.S.: NYSE
$ 85.85
-0.25 -0.29%
Volume: 3.89M
Feb. 3, 2023 4:00p
P/E Ratio
27.14
Dividend Yield
2.63%
Market Cap
$189.10 billion
Rev. per Employee
$496,986
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/zigman2/quotes/200304487/composite
US : U.S.: Nasdaq
$ 63.44
+0.29 +0.46%
Volume: 4.83M
Feb. 3, 2023 4:00p
P/E Ratio
97.18
Dividend Yield
2.24%
Market Cap
$198.48 billion
Rev. per Employee
$544,657
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/zigman2/quotes/203048482/delayed
UK : U.K.: London
10,580.00 p
+2.00 +0.02%
Volume: 282,782
Feb. 6, 2023 12:36p
P/E Ratio
96.46
Dividend Yield
2.10%
Market Cap
£163.94 billion
Rev. per Employee
£426,154
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/zigman2/quotes/203484366/composite
US : U.S.: NYSE
$ 136.79
+4.45 +3.36%
Volume: 1.78M
Feb. 3, 2023 4:00p
P/E Ratio
39.55
Dividend Yield
0.92%
Market Cap
$309.21 billion
Rev. per Employee
$459,590
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/zigman2/quotes/207193277/delayed
DK : Denmark: OMX
kr. 959.00
+17.50 +1.86%
Volume: 800,242
Feb. 6, 2023 1:36p
P/E Ratio
39.25
Dividend Yield
1.29%
Market Cap
kr.2120.08 billion
Rev. per Employee
kr.3.25M
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/zigman2/quotes/200919924/delayed
FR : France: Euronext Paris
38.79
-0.23 -0.58%
Volume: 602,624
Feb. 6, 2023 1:36p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€11.30 billion
Rev. per Employee
€281,064
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