European stocks struggle at the end of the week

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 +1.71% was flat at 456.84, but up 1% for the week to date so far. The German DAX /zigman2/quotes/210597999/delayed DX:DAX +2.47% slipped 0.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +2.39% fell 0.4% and the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.55% gained 0.3%. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.0707% rose, while the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.1054% was flat.

U.S. stocks /zigman2/quotes/210598065/realtime DJIA -1.34% /zigman2/quotes/210599714/realtime SPX -1.18% /zigman2/quotes/210598365/realtime COMP -1.83% 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 +2.39% , with shares up close to 6% after U.S. rival sportswear maker Nike /zigman2/quotes/203439053/composite NKE -1.50% 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 +1.44% 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 -1.85% /zigman2/quotes/202865596/delayed UK:IHG +2.56% , travel group TUI /zigman2/quotes/206000695/delayed XE:TUI1 +3.86% , cruise company Carnival /zigman2/quotes/210414141/delayed UK:CCL +3.52% and International Consolidated Airlines /zigman2/quotes/208070069/delayed UK:IAG +3.37% all dropped around 2% each. Shares of cut-rate airline easyJet /zigman2/quotes/202825892/delayed UK:EZJ +4.33% fell 1.5%.

Shares of pharmaceutical were also weighing on the downside, with shares of Novartis /zigman2/quotes/203286410/delayed CH:NOVN +1.09% /zigman2/quotes/203243705/composite NVS +0.15% , AstraZeneca /zigman2/quotes/200304487/composite AZN +0.09% /zigman2/quotes/203048482/delayed UK:AZN +0.46% and Novo Nordisk /zigman2/quotes/203484366/composite NVO +0.42% /zigman2/quotes/207193277/delayed DK:NOVO.B +1.05% all lower.

Auto makers were also under pressure, with Renault /zigman2/quotes/200919924/delayed FR:RNO +3.06% down 2% and Daimler /zigman2/quotes/201850364/delayed XE:DAI +4.33% off more than 1%.

/zigman2/quotes/210599654/delayed

Add to watchlist XX:SXXP

STOXX Europe 600 Index

XX : STOXX

470.86

+7.90 +1.71%

Volume: 0.00

Dec. 1, 2021 11:03p

/zigman2/quotes/210597999/delayed

Add to watchlist DX:DAX

DAX

DX : Xetra Indices

15,472.67

+372.54 +2.47%

Volume: 86,134

Dec. 1, 2021 6:30p

/zigman2/quotes/210597958/delayed

Add to watchlist FR:PX1

CAC 40 Index

FR : France: Euronext Paris

6,881.87

+160.71 +2.39%

Volume: 101,765

Dec. 1, 2021 6:05p

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,168.68

+109.23 +1.55%

Volume: 710,158

Dec. 1, 2021 4:59p

/zigman2/quotes/210561242/realtime/sampled

Add to watchlist EURUSD

Euro

US : Tullett Prebon

1.1329

+0.0008 +0.0707%

Volume: 0.0000

Dec. 1, 2021 11:21p

/zigman2/quotes/210561263/realtime/sampled

Add to watchlist GBPUSD

British Pound

US : Tullett Prebon

1.3292

+0.0014 +0.1054%

Volume: 0.0000

Dec. 1, 2021 11:21p

/zigman2/quotes/210598065/realtime

Add to watchlist DJIA

Dow Jones Industrial Average

US : Dow Jones Global

34,022.04

-461.68 -1.34%

Volume: 498.38M

Dec. 1, 2021 5:04p

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

4,513.04

-53.96 -1.18%

Volume: 3.04B

Dec. 1, 2021 5:04p

/zigman2/quotes/210598365/realtime

Add to watchlist COMP

NASDAQ Composite Index

US : Nasdaq

15,254.05

-283.64 -1.83%

Volume: 5.47M

Dec. 1, 2021 5:16p

/zigman2/quotes/206448829/delayed

Add to watchlist XE:ADS

adidas AG

XE : Germany: Xetra

€ 261.65

+6.10 +2.39%

Volume: 729,061

Dec. 1, 2021 6:30p

P/E Ratio

24.73

Dividend Yield

1.15%

Market Cap

€49.85 billion

Rev. per Employee

€318,600

/zigman2/quotes/203439053/composite

Add to watchlist NKE

Nike Inc. Cl B

US : U.S.: NYSE

$ 166.70

-2.54 -1.50%

Volume: 6.62M

Dec. 1, 2021 4:00p

P/E Ratio

44.28

Dividend Yield

0.73%

Market Cap

$267.87 billion

Rev. per Employee

$606,999

/zigman2/quotes/207007202/delayed

Add to watchlist UK:JD

JD Sports Fashion PLC

UK : U.K.: London

226.10 p

+3.20 +1.44%

Volume: 5.64M

Dec. 1, 2021 4:35p

P/E Ratio

27.31

Dividend Yield

0.00%

Market Cap

£11.50 billion

Rev. per Employee

£101,016

/zigman2/quotes/204459500/composite

Add to watchlist IHG

InterContinental Hotels Group PLC ADR

US : U.S.: NYSE

$ 59.46

-1.12 -1.85%

Volume: 300,298

Dec. 1, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$10.75 billion

Rev. per Employee

$188,016

/zigman2/quotes/202865596/delayed

Add to watchlist UK:IHG

InterContinental Hotels Group PLC

UK : U.K.: London

4,563.00 p

+114.00 +2.56%

Volume: 733,563

Dec. 1, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£8.12 billion

Rev. per Employee

£145,486

/zigman2/quotes/206000695/delayed

Add to watchlist XE:TUI1

TUI AG

XE : Germany: Xetra

€ 2.42

+0.09 +3.86%

Volume: 8.11M

Dec. 1, 2021 6:30p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

€3.77 billion

Rev. per Employee

€164,364

/zigman2/quotes/210414141/delayed

Add to watchlist UK:CCL

Carnival PLC

UK : U.K.: London

1,228.00 p

+41.80 +3.52%

Volume: 1.47M

Dec. 1, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£14.84 billion

Rev. per Employee

N/A

/zigman2/quotes/208070069/delayed

Add to watchlist UK:IAG

International Consolidated Airlines Group S.A.

UK : U.K.: London

131.76 p

+4.30 +3.37%

Volume: 38.64M

Dec. 1, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£6.32 billion

Rev. per Employee

£120,743

/zigman2/quotes/202825892/delayed

Add to watchlist UK:EZJ

easyJet PLC

UK : U.K.: London

518.00 p

+21.50 +4.33%

Volume: 6.64M

Dec. 1, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£3.75 billion

Rev. per Employee

£214,929

/zigman2/quotes/203286410/delayed

Add to watchlist CH:NOVN

Novartis AG

CH : Switzerland: SWX

CHF 74.24

+0.80 +1.09%

Volume: 4.20M

Dec. 1, 2021 5:30p

P/E Ratio

18.82

Dividend Yield

4.04%

Market Cap

CHF163.34 billion

Rev. per Employee

CHF431,707

/zigman2/quotes/203243705/composite

Add to watchlist NVS

Novartis AG ADR

US : U.S.: NYSE

$ 79.82

+0.12 +0.15%

Volume: 2.35M

Dec. 1, 2021 4:00p

P/E Ratio

18.42

Dividend Yield

2.60%

Market Cap

$176.51 billion

Rev. per Employee

$459,941

/zigman2/quotes/200304487/composite

Add to watchlist AZN

AstraZeneca PLC ADR

US : U.S.: Nasdaq

$ 54.88

+0.05 +0.09%

Volume: 4.90M

Dec. 1, 2021 4:00p

P/E Ratio

86.62

Dividend Yield

2.50%

Market Cap

$169.62 billion

Rev. per Employee

$362,602

/zigman2/quotes/203048482/delayed

Add to watchlist UK:AZN

AstraZeneca PLC

UK : U.K.: London

8,314.00 p

+38.00 +0.46%

Volume: 1.87M

Dec. 1, 2021 4:35p

P/E Ratio

88.55

Dividend Yield

2.43%

Market Cap

£128.21 billion

Rev. per Employee

£282,763

/zigman2/quotes/203484366/composite

Add to watchlist NVO

Novo Nordisk A/S ADR

US : U.S.: NYSE

$ 107.28

+0.45 +0.42%

Volume: 710,484

Dec. 1, 2021 4:00p

P/E Ratio

33.39

Dividend Yield

0.98%

Market Cap

$243.32 billion

Rev. per Employee

$428,322

/zigman2/quotes/207193277/delayed

Add to watchlist DK:NOVO.B

Novo Nordisk A/S Series B

DK : Denmark: OMX

kr. 712.10

+7.40 +1.05%

Volume: 1.92M

Dec. 1, 2021 4:59p

P/E Ratio

35.62

Dividend Yield

1.31%

Market Cap

kr.1607.68 billion

Rev. per Employee

kr.2.80M

/zigman2/quotes/200919924/delayed

Add to watchlist FR:RNO

Renault S.A.

FR : France: Euronext Paris

€ 29.33

+0.87 +3.06%

Volume: 1.57M

Dec. 1, 2021 5:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

€8.24 billion

Rev. per Employee

N/A

/zigman2/quotes/201850364/delayed

Add to watchlist XE:DAI

Daimler AG

XE : Germany: Xetra

€ 86.59

+3.59 +4.33%

Volume: 4.18M

Dec. 1, 2021 6:30p

P/E Ratio

6.69

Dividend Yield

1.56%

Market Cap

€88.80 billion

Rev. per Employee

€534,902