Already misguided in the first part of the session, European stock markets sink into the red this afternoon amid poor economic data appeared on the other side of the Atlantic.
‘Equity indices come to realize significant growth since mid-February and the proximity of resistance does not allow for the time indices to speed. The current consolidation is legitimate ‘, we thought this morning at Barclays (LON: BARC ) Stock Exchange.
‘London is notable losses, while disappointing sessions in the US and Asia combine with the usually drab business results and a confidence index of UK consumers morose’ explained Tony Cross in Trustnet Direct.
European indices depression worsened this afternoon with the opening on Wall Street amid disappointing US data: household spending rose only 0.1% to revenue growth of 0, 4% in March.
Similarly, the Chicago PMI fell to 50.4 this month, reflecting a stronger than expected slowdown in manufacturing expansion in this region, while the index ‘UMich’ of consumer confidence was revised down to 89 in the final data.
Feeling depressed market eclipse satisfactory data for the euro area, with GDP growth estimated at 0.6% in the first quarter (against 0.4% expected) and a decline of 0.2 unemployment rate to 10.2% in March (against 10.3% expected).
In Frankfurt, where the DAX lost 2%, the BASF chemist (DE: BASFN ) were down 0.8% despite better than expected results for the first quarter, while industrial gases group Linde manages to move symmetrically after its accounts.
The London FTSE yields 0.5%, charged in particular by the airline IAG (-5.6%) on a cautious outlook, while BT Group (LON: BT ) (+ 2.3%) benefited from an increase recommendation UBS and AstraZeneca (+ 0.5%) of its quarterly.
In Paris, where the CAC40 loose 2.7%, the giant Sanofi Health (PA: SASY ) (-6%) is the worst performing after its quarterly, but investors welcome less negatively publications Vinci (-1, 2%) and Klépierre (stable).
The Bel 20 in Brussels was down 1.8%, despite a 0.6% gain to Engie: energy group achieved organic growth of EBITDA and current operating income in the first quarter, helped by the restart of nuclear power plants Belgium last December.
The AEX Amsterdam fall of 1.6%, charged in particular with a dip of 5.5% of Gemalto (AS: GTO ) after the specialist in digital security has expressed a stagnation of its sales business in the first three months of the year.
In Lisbon, where the PSI loses 1%, operators awarded the quarterly results of the BCP (-2.3%), but the distributor Jeronimo Martins manages to remain fairly stable after his.