European Markets Finish Mixed On Tuesday
(RTTNews) – The major European markets saw late support to finish mixed on Tuesday, shaking off early weakness as investors fretted about potential inflationary pressures arising from U.S. President-elect Donald Trump’s proposed tariff policies.
Investor sentiment was also dented as the risk premium investors demand to hold French debt rose to its highest level since 2012 amid fiscal and political turbulence and angst over the fate of the new government.
For the day, Germany’s DAX slipped 34.23 points or 0.18 percent to finish at 19,261.75, while London’s FTSE rose 16.14 points or 0.20 percent to close at 8,274.75 and the CAC 40 in France slumped 51.48 points or 0.72 percent to end at 7,143.
In Germany, Vonovia soared 2.93 percent, while Zalando stumbled 2.05 percent, Daimler Truck Holding jumped 1.50 percent, Infineon Technologies slumped 1.41 percent, E.ON SE sank 1.00 percent, Deutsche Bank dropped 0.63 percent, Heidelberg Materials lost 0.55 percent, Deutsche Telekom added 0.44 percent and Deutsche Post fell 0.38 percent.
In London, Airtel Africa surged 5.16 percent, while Entain tumbled 2.61 percent, Tesco rallied 2.14 percent, Rightmove improved 1.63 percent, Haleon climbed 1.42 percent, Rentokil slumped 1.07 percent, Compass Group advanced 0.97 percent, Shell lost 0.65 percent, Experian gained 0.61 percent, M&G fell 0.58 percent, Vodafone rose 0.45 percent and Rolls-Royce was down 0.44 percent.
In France, Societe Generale tanked 3.48 percent, while Worldline stumbled 3.20 percent, Airbus jumped 1.93 percent, Vinci dropped 1.74 percent, Compagnie de Saint-Gobain slumped 1.53 percent, Credit Agricole lost 1.34 percent, BNP Paribas fell 1.19 percent, Carrefour improved 1.14 percent, Sanofi rose 0.64 percent and Danone was up 0.40 percent.
In economic news, France’s consumer confidence worsened further in November to the lowest level in five months, monthly survey data from the statistical office INSEE showed on Wednesday. The consumer sentiment index dropped to 90 in November from 93 in the previous month.
German consumer confidence is set to deteriorate sharply at the end of the year as income expectations plunged to a nine-month low on growing fears of recession, a closely watched survey showed Wednesday. The consumer sentiment index slid to -23.3 in December from revised -18.4 in November, survey results jointly published by GfK and the Nuremberg Institute for Market Decisions revealed today.
Austria’s manufacturing sector contraction softened in November, thanks to slower reductions in output and new orders, survey results from S&P Global showed on Wednesday. The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index rose to a 6-month high of 44.5 in November from 42.0 in October.
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