European Stock Markets are Trading in the Red

European Stock Markets are Trading in the Red

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Written on

Oct, 2021

Updated on

Oct, 2021

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Equity markets in Western Europe started trading under the influence of the bearish trend. Investors in global markets have faced a host of challenges in recent months, ranging from the spread of the COVID-19 delta strain, disruptions in global supply chains, uncertainty over the future of government monetary policy, to surging inflation and a slowdown in economic recovery. Worries are added by the crisis in the real estate sector in China, associated with the debt problems of one of the country’s largest developers, China Evergrande Group, which has recently periodically pushed the markets down.

Traders continue to follow the corporate reports of companies and for the European markets in this regard, today is a rather busy day. European companies such as Vivendi (PA: VIV), Eurotunnel, Daimler, SAP, Randstad, ABB and Unilever (AS: UNc) will publish their financial results on Thursday. French cosmetics L’Oreal (PA: OREP) is also due to release its quarterly sales data.

The composite index of the largest enterprises in the region Stoxx Europe 600 dropped by 0.2% and amounted to 469 points.

The German DAX index is down 0.2%, the Italian FTSE MIB – by 0.3%, the British FTSE 100 – by 0.4%. French CAC 40 and Spanish IBEX 35 lost 0.4% and 0.7% respectively.

UK bank Barclays (LON: BARC) is down 0.8% despite more than doubling its quarterly net income.

French spirits producer Pernod Ricard (PA: PERP) lost 0.9%. The company in the first quarter of 2022 fiscal years increased sales by 20%, to 2.72 billion euros.

Swedish truck maker Volvo AB is up 0.5%. The company in the third quarter increased its revenue by 17%, and its net profit exceeded the forecasts of experts.

The value of UK-Dutch Unilever, one of the world’s leading suppliers of FMCG products, is increasing by 2.5%. The company’s revenue in the third quarter increased by 2.5% compared to the same period last year, and turnover increased to 13.5 billion euros from 12.9 billion euros last year.

The capitalization of the French fashion house Hermes International SCA is growing by 0.9%. Hermes’ third-quarter revenue increased 31% to € 2.37 billion from € 1.8 billion in the same period last year.

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