Analytical Reviews

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European stock markets closed on the rise
02:17 2021-09-17 UTC--4

Britain's FTSE 100 and Germany's DAX rose 0.2%, while France's CAC 40 climbed 0.6%. Spain's IBEX 35 and Italy's FTSE MIB added 1.1% and 0.8%, respectively.

The growth leaders among the Stoxx 600 components were shares of the Irish airline Ryanair Holdings PLC, whose value increased by 8% after the company improved its forecast for annual passenger traffic by 2026 to 225 million from the previously announced 200 million. other European airlines: easyJet - up 7.2% and Wizz Air Holdings up 5%.

The value of British apparel manufacturer Superdry PLC increased 14%, despite Superdry's revenue declining 21.1% in fiscal 2021 to £ 556.1 million ($ 768.9 million). Nevertheless, the company managed to reduce its loss before taxes to 36.7 million pounds from 166.9 million pounds.

Car sales in the European Union fell 23.2% year-on-year in July 2021 and 19.1% in August, according to data from the European Association of Automobile Manufacturers (ACEA).

Shares of leading European automakers fell by the end of trading: Daimler AG dropped 0.5%, Renault S.A. fell 1.7% and Bayerische Motoren Werke AG (BMW) fell 1.2%.

The cost of the Volkswagen carmaker fell 1.5% on news of the suspension of work for a week at two enterprises of the Czech automaker Skoda in the country due to a shortage of chips.

The leaders of the fall were the shares of the German manufacturer of automotive components Continental AG (-16%), from which the division for the development of solutions for the electric drive Vitesco Technologies spun off into a separate company.

In addition, on European markets, by the end of trading, shares of mining companies fell on the background of falling prices for metals: shares of Anglo American lost 5%, Rio Tinto fell 4% and BHP Group fell 3.4%.

The cost of the Danish transport and logistics company A.P. Moeller-Maersk A / S declined 0.4%, despite the company improving its forecasts for the third quarter and 2021 as a whole, as supply chain disruptions contributed to higher freight costs.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.