Markets

European Shares Mostly Higher On Upbeat Factory Data

(RTTNews) - European shares were mostly higher on Monday as upbeat Eurozone, Chinese and U.K. manufacturing data helped ease fears about global economic recovery.

The upside, however, remained capped amid worries over a further tightening of restrictions in Europe and a deadlock in the deliberations over a new stimulus deal in the U.S.

The pan European Stoxx 600 rose half a percent to 358.11 after losing 0.9 percent on Friday.

The German DAX climbed 1.3 percent and France's CAC 40 index edged up 0.3 percent while the U.K.'s FTSE 100 was marginally lower.

Roche Holding advanced 1.9 percent as the European Commission approved Rozlytrek for the treatment of adults with ROS1-positive, advanced non-small cell lung cancer.

Dutch brewer Heineken tumbled 4.4 percent after it swung to a loss in the first half. HSBC Holdings shares plunged 5.8 percent after the bank reported a 65 percent slump in first-half pre-tax profit.

Aerospace supplier Senior Plc plummeted 11.7 percent after posting a loss in the first half of 2020.

Similarly, insurer Hiscox tumbled 5.7 percent after it swung to a first-half loss.

Hammerson slumped 9 percent. The property development and investment company said it was considering a rights issue and was in advanced talks to dispose of its interest in VIA Outlets.

Societe Generale lost 3 percent after the French lender reported a 1.26 billion euro ($1.48 billion) second-quarter loss. BNP Paribas advanced 1.8 percent, while Credit Agricole edged down 0.2 percent.

Sanofi shares surged 7.3 percent after the U.S. agreed to spend $2.1 billion on a joint experimental Covid-19 vaccine from GlaxoSmithKline and Sanofi.

Holiday company TUI AG declined 1.2 percent after it agreed a sale and leaseback deal for five new Boeing 737 MAX-8 aircraft with BOC Aviation.

Siemens Healthineers slumped 4.7 percent after it agreed to buy U.S. firm Varian Medical Systems for $16.4 billion.

In economic news, a private survey showed China's factory activity expanded at the fastest pace decade in July, helping ease worries about the Covid-19 pandemic on the global economy.

The euro area manufacturing sector returned to growth in July for the first time in a year-and-a-half as output and demand continued to recover with the further easing of restrictions related to the coronavirus disease, final data from IHS Markit showed.

The manufacturing Purchasing Managers' Index rose to 51.8 in July from 47.4 in June. This was also above the flash reading of 51.1.

U.K. manufacturing activity is also on course for recovery as the nation's lockdown eased and furloughed staff returned to work.

The IHS Markit/CIPS manufacturing purchasing managers' index (PMI) rose to 53.3 last month from 50.1 in June.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More