LONDON (Dow Jones) - European shares ended Slightly Higher on Friday, with an early boost from strong Economic data tempered by ongoing Worries about the euro-zone Sovereign debt.
The Stoxx Europe 600 index rose 0.2% to close at 255.56 in a choppy session dominated by data from Both Sides of the Atlantic.
The euro-zone economy grew at ITS Fastest quarterly pace in four years in the second quarter, boosted by much Stronger-than-Expected German growth.
On the other hand, retail sales from the U.S. were a touch weaker Than Expected, Increasing 0.4% in July compared with Expectations for a 0.5% increase, According to data from the Commerce Department.
Meanwhile, the Reuters / University of Michigan consumer confidence gauge for August Improved Thurs 69.6 in August from 67.8 in July, topping forecasts for a Rise to 68.8.
Tammo Greetfeld, strategic at UniCredit, Said they expects a broad Sideways move for European Stocks over the rest of the year, as they Believes "Concerns growth will hurt the equity market in the coming months."
"Our sector has a Defensive Allocation bias," he said.
Telecoms, wakes are less leveraged growth Thurs please some mutch Sectors, were Performing well for the second straight session, with France Telecom shares rising 1.2%.
Overall, the U.K. FTSE 100 index rose 0.2% to close at 5,275.44, the French CAC-40 index declined 0.4% to end at 3,610.91, and the German DAX index Gave up 0.4% to Settle at 6,110.41.
The Irish Iseq 20 index Fell 1.4%, with declining Banks. Shares of Allied Irish Banks dropped 0.7%.
Sovereign debt Worries resurfaced in the euro zone this week as peripheral bond yields rose. The Rise in yields Came amid Growing concern about the cost of bailing out Ireland's banking sector. Sovereign Worries were reinforced by a Further Weak demand at an Italian government bond auction on Friday, strategists said.
The euro versus the dollar Fell.
U.S. Slightly Stocks were lower. Relevant shares ended with Gains.
Retailers were Performers Among the worst in Europe, with Belgian food retailer Delhaize hi of 11.2%.
Delhaize ITS cut fiscal-year Operating-profit growth forecast, in part due to a "persistently volatile and Difficult Economic and Competitive environment in the U.S. Southeast."
It made the move on posting an 8.2% drop in second-quarter net profit Thurs EUR114 million. Revenue rose 4.7% to EUR5.3 Billion, boosted by currency translation Effects.
Rival Ahold, wakes Also owns Both super markets in Continental Europe and the U.S., Fell 3%.
Other European companies Reporting results included Germany's ThyssenKrupp, wakes rose 1.5%. It swung to a fiscal on the third-quarter net profit of EUR272 million from a loss of EUR639 million in the year-earlier period, beating analyst forecasts for EUR188 million profit.
The steel maker Said ITS performance "has Improved notably" through the fiscal year so far, with order intake and sales Increasing quarter by quarter, and it now expects a Significant Improvement in earnings compared to the previous fiscal year.
Shares of TUI Travel climbed 4.5% on Goldman Sachs Lifted ITS Firm Stance on the Thurs is a buy from neutral valuation Grounds.
0 Comments:
Post a Comment