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 -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

Add to watchlist XX:SXXP

STOXX Europe 600 Index

XX : STOXX

456.87

-3.90 -0.85%

Volume: 0.00

Feb. 6, 2023 1:36p

/zigman2/quotes/210597999/delayed

Add to watchlist DX:DAX

DAX

DX : Xetra Indices

15,320.49

-155.94 -1.01%

Volume: 22,215

Feb. 6, 2023 1:36p

/zigman2/quotes/210597958/delayed

Add to watchlist FR:PX1

CAC 40 Index

FR : France: Euronext Paris

7,129.81

-104.13 -1.44%

Volume: 21,931

Feb. 6, 2023 1:36p

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,840.77

-61.03 -0.77%

Volume: 155,105

Feb. 6, 2023 12:36p

/zigman2/quotes/210561242/realtime/sampled

Add to watchlist EURUSD

Euro

US : Tullett Prebon

1.0782

-0.0017 -0.1574%

Volume: 0.0000

Feb. 6, 2023 7:51a

/zigman2/quotes/210561263/realtime/sampled

Add to watchlist GBPUSD

British Pound

US : Tullett Prebon

1.2071

+0.0015 +0.1244%

Volume: 0.0000

Feb. 6, 2023 7:51a

/zigman2/quotes/210598065/realtime

Add to watchlist DJIA

Dow Jones Industrial Average

US : Dow Jones Global

33,926.01

-127.93 -0.38%

Volume: 0.00

Feb. 3, 2023 4:54p

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

4,136.48

-43.28 -1.04%

Volume: 0.00

Feb. 3, 2023 4:54p

/zigman2/quotes/210598365/realtime

Add to watchlist COMP

NASDAQ Composite Index

US : Nasdaq

12,006.95

-193.86 -1.59%

Volume: 6.01B

Feb. 3, 2023 5:16p

/zigman2/quotes/206448829/delayed

Add to watchlist XE:ADS

adidas AG

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

/zigman2/quotes/203439053/composite

Add to watchlist NKE

Nike Inc. Cl B

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

/zigman2/quotes/207007202/delayed

Add to watchlist UK:JD

JD Sports Fashion PLC

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

/zigman2/quotes/204459500/composite

Add to watchlist IHG

InterContinental Hotels Group PLC ADR

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

/zigman2/quotes/202865596/delayed

Add to watchlist UK:IHG

InterContinental Hotels Group PLC

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

/zigman2/quotes/206000695/delayed

Add to watchlist XE:TUI1

TUI AG

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

/zigman2/quotes/210414141/delayed

Add to watchlist UK:CCL

Carnival PLC

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

/zigman2/quotes/208070069/delayed

Add to watchlist UK:IAG

International Consolidated Airlines Group S.A.

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

/zigman2/quotes/202825892/delayed

Add to watchlist UK:EZJ

easyJet PLC

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

/zigman2/quotes/203286410/delayed

Add to watchlist CH:NOVN

Novartis AG

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

/zigman2/quotes/203243705/composite

Add to watchlist NVS

Novartis AG ADR

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

/zigman2/quotes/200304487/composite

Add to watchlist AZN

AstraZeneca PLC ADR

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

/zigman2/quotes/203048482/delayed

Add to watchlist UK:AZN

AstraZeneca PLC

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

/zigman2/quotes/203484366/composite

Add to watchlist NVO

Novo Nordisk A/S ADR

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

/zigman2/quotes/207193277/delayed

Add to watchlist DK:NOVO.B

Novo Nordisk A/S Series B

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

/zigman2/quotes/200919924/delayed

Add to watchlist FR:RNO

Renault S.A.

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