European stocks rose on the last trading day of the month, rising with better-than-expected results and following earnings for major US tech companies. This joy has helped investors put aside, for now, signs of rising global economic problems due to the pandemic.
The Stoxx Europe 600 SXXP index,
rose 0.5% to 361.06 after the worst day loss in four weeks, down 2.2%. The index is looking at a 0.2% decline in July. Elsewhere, the German DAX DAX,
rose 0.6%, the French CAC 40 index PX1,
gained 0.6% and the FTSE 100 UKX index,
Fresh data from China revealed encouraging data from the factory. That’s on the heels of worrying U.S. data showing continuously high layoffs and a record 32.9% drop in gross domestic product in the second quarter. Fresh outbreaks in southern states and elsewhere have forced businesses to reopen in parts of the United States
“What is probably most worrying for investors seems to be the realization that negative news regarding a possible second wave only makes it much more difficult to get any kind of V-shaped prospect of recovery. , particularly as U.S. workers The market downturn appears to have stopped, “said Michael Hewson, chief market analyst at CMC Markets, in a note to clients.
Meanwhile, the downturn pushed the French gross domestic product to a record decline of 13.8% in the second quarter and Spanish GDP fell 18.5%.
Fears of the second wave of the virus have been on the rise in the UK after the government imposed new locking restrictions on the country’s northern foothills late Thursday. A sharp rise in coronavirus cases because people who don’t follow social breakout rules have been to blame for new restrictions, health secretary Matt Hancock said. Spain and Belgium are also fighting outbreaks.
Europe’s stocks in Europe rose on Friday, after iPhone maker Apple AAPL,
and Amazon.com e-commerce group AMZN,
posted a lucrative Thursday afternoon that exploded analysts’ expectations. In addition to reporting a profit of more than $ 11 billion, Apple also announced a four-for-one stock split. Social media giant Facebook FB,
and the Google GOOGL parent alphabet,
posted solid results, if less jaws fail.
Nasdaq-100 NQ00 Futures,
rose 91.75 points, or 0.9%, to 10,886, while the Dow Jones Industrial Average YM00,
and future S&P 500 ES00,
increased by about 0.2% each.
Shares of semiconductor companies ASM International NV ASM,
and Dialog Semiconductor PLC DLG,
obtained above 3% and 2% each.
Nokia Corporation NOK,
the shares led the gain on the Stoxx Europe 600, up 11% after Finnish telecommunications and technology gathered full-year guidance on stronger profitability and money generation. Nokia said sales hit 300 million euros in the second quarter due to the pandemic.
Elsewhere, BNP Paribas SA BNP,
was the best it acquired, with shares up 4% after the French bank said customer activity had boosted the performance of its market operations, which challenged the pain of providing € 1.45 billion ($ 1.72 billion) for credit loss.
BATS PLC British American American Tobacco,
reported an increase in profit in the first half despite a drop in volume. The Kentucky BioProcessing cigarette maker division has applied and is awaiting approval from the U.S. Food and Drug Administration to begin trial of its Covid-19 vaccine, Kingsley Wheaton, chief officer of the company’s business, he told MarketWatch in an interview.
On the downside, the shares of International IA Group Consolidated Airlines IAG,
fell above 5% after British Airways and other airlines swung to a loss of € 4.21 billion and announced plans to raise € 2.75 billion in a capital increase to boost the charter. the balance of the struggling company. IAG also said it was discussing a potential restructuring of Air Europa’s acquisition with Globalia in order to take into account the effect of the pandemic.
Shares of Air France-KLM SA AF,
decreased 2.2%. The airline has announced it will cut an additional 1,500 jobs.