European equities close sharply lower
(RTTNews) – European stocks closed sharply lower on Wednesday as investors squeezed sales across several sectors amid concerns about inflation and rising interest rates, as well as weak economic data in the region .
The central banks of New Zealand and Romania have raised interest rates, and the central bank of Poland is expected to follow suit on Thursday.
The pan-European Stoxx 600 lost 1.03%. The UK FTSE 100 ended down 1.15%, the German DAX slipped 1.46% and the French CAC 40 lost 1.26%, while the Swiss SMI slightly lost 0.15%.
Among the other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Iceland, Ireland, the Netherlands, Norway, Portugal, Russia, Spain, Sweden and Turkey closed with strong to moderate losses.
Poland and the Czech Republic finished flat.
In the UK market, Antofagasta lost around 5.5%. Then Whitbread, Melrose Industries, JD Sports Fashion, Imperial Brands, Informa, Taylor Wimpey, IAG, BT Group, Johnson Matthey, Smith & Nephew, Smith (DS) and B&M Eurpean Value Retail lost 3-4.8%.
Sainsbury (J), Royal Dutch Shell, Vodafone Group, Associate British Foods, Anglo American Plc and Evraz also fell sharply.
Tesco climbed nearly 6% after the supermarket chain raised its full-year outlook and launched a £ 500million share buyback program.
HSBC Holdings, Pearson, Fresnillo, Standard Chartered, Pershing Square Holdings and Polymetal International gained 1.3 to 3.5%.
On the French market, Technip, Unibail Rodamco, ArcelorMittal, Renault, Air France-KLM, Michelin, Publicis Groupe, Veolia, Sodexo and Faurecia lost 2 to 5%.
Thales share lost around 1.7% as Google Cloud announced a strategic agreement with the French technology company to co-develop a sovereign hyperscale cloud offer for France.
Pernod Ricard gained around 1.5%, while Carrefour and Vivendi posted modest gains.
In Germany, Sartorius fell almost 7%. Deutsche Telekom lost more than 5% after Goldman Sachs reportedly sold shares worth € 1.58 billion ($ 1.83 billion) under a SoftBank structured finance deal.
BASF, Porsche Automobil, Covestro, Volkswagen, Fresenius, BMW, Linde, Deutsche Post and Daimler lost 2-4%.
Shares of German software developer TeamViewer plunged nearly 25% after the company lowered its annual forecast and released weaker-than-expected quarterly results.
Ferrexpo, a Swiss iron ore company with assets in Ukraine, fell more than 4%. The company said its total production of iron ore pellets in the third quarter increased 2% year-on-year to 2.6 million tonnes.
In economic news, euro area retail sales volume rose 0.3% sequentially in August, while in July it declined 2.6% revised downward, the agency said. of statistics from the European Union Eurostat. Economists had forecast an increase of 0.8% for the month of August.
German factory orders fell 7.7% on a monthly basis in August, reversing a revised 4.9% increase in July, with supply bottlenecks particularly affecting car and parts makers detached, data from Destatis revealed earlier today. Orders are expected to decline moderately 2.1%.
The construction sector in Germany continued to contract in September with bottlenecks, capacity constraints and strong price pressures acting as headwinds on activity and new orders, showed on Wednesday. data from an IHS Markit survey.
The purchasing managers index in the construction sector rose to 47.1 in September from 44.6 in August. However, a reading below 50.0 indicates expansion.
Growth in the UK construction sector weakened in September, with output rising at a minimum for eight months due to supply chain issues and weaker demand, data released on Wednesday showed. by IHS Markit.
The Chartered Institute of Procurement & Supply construction purchasing managers index fell more than expected to 52.6 in September from 55.2 in August. The expected level was 54.0.
The index signaled the slowest speed of recovery in eight months. Nonetheless, a reading above 50.0 indicates expansion.
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