(CercleFinance.com) – The European stock markets are moving in a dispersed order (-0.3% in London, -0.7% in Paris, +0.2% in Frankfurt), divided between an encouraging close the day before on Wall Street and heavy declines suffered by Chinese indices this morning.
‘On the Chinese side, investors were concerned by several data, including inflation data from the weekend which showed even weaker price pressures than expected,’ points out Deutsche Bank.
The German bank also points out that these concerns about China, where economic recovery measures seem to be disappointing, as well as a reduction in perceptions of the risk of military escalation in the Middle East, are weighing on oil prices.
In this context, the trend in Europe is penalized by luxury stocks like LVMH or Richemont which both lost around 2%, as well as by those in energy, like TotalEnergies, bp (-4% each ) or Shell (-3%).
On the other hand, Ericsson jumped more than 7% in Stockholm, the telecom equipment manufacturer having significantly improved its profitability in the third quarter, thanks to its cost reduction measures and a sharp increase in its revenues in North America.
In macroeconomic news in Europe, the ZEW index measuring sentiment on the economic outlook in Germany climbed 9.5 points to settle at 13.1, but BofA analysts were hoping for a sharper recovery, around 25.
Furthermore, industrial production rebounded by 1.8% in the euro zone in August compared to the previous month, after having decreased by 0.5% in July, a rebound driven in particular by investment and consumer goods. durable.
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