- November 1, 2021
- By: Admin1_blog
- EU Market, Indices
- European traders reacted to a busy morning of earnings, with BNP Paribas, Natwest, Glencore, BBVA and Bank of Ireland just some of those reporting before the bell.
- On Wall Street, stock futures slipped in early morning trading Friday as shares of major technology companies suffered following disappointing earnings reports.
LONDON — European stocks closed mixed on Friday as traders digested a raft of U.S. and domestic corporate earnings.
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The pan-European Stoxx 600 provisionally ended 0.06% higher, with sectors and major bourses pointing in opposite directions. Utilities stocks led losses, shedding more than 1%. Tech stocks also closed the session in negative territory following disappointing earnings from tech giants Apple and Amazon.
European traders reacted to a busy morning of earnings, with BNP Paribas, Natwest, Glencore, BBVA and Bank of Ireland just some of those reporting before the bell.
On Wall Street, stock futures slipped in early morning trading Friday. Amazon shares dropped 4% in extended trading after the e-commerce giant badly missed earnings and revenue expectations for the third quarter. Apple stock also fell more than 3% in after hours trading after the tech giant’s quarterly revenue fell short of expectations amid larger-than-expected supply constraints on iPhones, iPads and Macs.
Back in Europe, inflation in the euro zone rose to 4.1% in October, hitting a 13-year high.
This comes after the European Central Bank decided Thursday to keep interest rates and its monetary policy stance unchanged, despite ongoing inflationary pressures. President Christine Lagarde tried to play down the chances of a rate hike for 2022, hinting that market players might be getting ahead of themselves with their predictions.
Stocks on the move
Volvo Cars made its market debut on Friday, with shares surging 22% upward from their offer price. The company’s listing marks Europe’s biggest IPO this year. Volvo Cars IPO pricing leaves headroom for new investors, CEO says
Biotechnology firm Argenx rose toward the top of the European blue-chip index after reporting strong second-quarter earnings. Shares gained 7.6%.
Spanish lender BBVA and medical technology firm Convatec both added more than 7%.
Video game maker Ubisoft rose 4% after the company posted positive earnings.
At the other end of the index, Dutch lighting manufacturer Signify ended the session 4.5% lower after its third-quarter earnings fell more than 8% due to supply chain challenges.
Finnish software company Qt Group fell to the bottom of the Stoxx 600, with shares slumping over 10%.
Source : CNBC
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