{"id":10401,"date":"2021-06-02T13:52:01","date_gmt":"2021-06-02T13:52:01","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/02\/european-stocks-modestly-higher-in-cautious-trade\/"},"modified":"2021-06-02T13:52:01","modified_gmt":"2021-06-02T13:52:01","slug":"european-stocks-modestly-higher-in-cautious-trade","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/02\/european-stocks-modestly-higher-in-cautious-trade\/","title":{"rendered":"European Stocks Modestly Higher In Cautious Trade"},"content":{"rendered":"
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European stocks are modestly higher Wednesday afternoon with investors making cautious moves, looking ahead to fresh directional clues, after several markets<\/span> in the region posted new record highs amid optimism about economic recovery.<\/p>\n

The focus is now on the upcoming U.S. jobs data, due on Friday.<\/p>\n

The pan European Stoxx 600 is up 0.14%. The U.K.’s FTSE 100 is up marginally, while Germany’s DAX and France’s CAC 40 are rising 0.2% and 0.35%, respectively. Switzerland’s SMI is up as well, gaining nearly 0.3%.<\/p>\n

In the German market, Beiersdorf is climbing more than 3%. Lufthansa is up 2.7% and Volkswagen is gaining nearly 2%. BMW is up by about 1.7%, while Bayer and Vonovia are gaining 1% each.<\/p>\n

Deutsche Wohnen, Infineon Technologies, Thyssenkrupp and RWE are down 1 to 2%.<\/p>\n

In France, Air France-KLM is gaining more than 2%. Total is up nearly 2% and Airbus is climbing up 1.5%, while Michelin, Technip and Renault are up 0.8 to 1%.<\/p>\n

Vivendi, WorldLine, Publicis Groupe, Capgemini, Saint Gobain and Credit Agricole are down in negative territory, losing 0.6 to 1.7%.<\/p>\n

In economic news, data from Destatis showed Germany’s retail sales declined more than expected in April, falling by 5.5% on a monthly basis, reversing March’s 7.7% increase. Economists had forecast sales to drop 2% in April.<\/p>\n

On a yearly basis, growth in retail sales slowed to 4.4% from 11.6% in March. <\/p>\n

Eurozone producer price inflation accelerated sharply in April driven by higher energy prices, data from Eurostat showed. Producer price inflation rose to 7.6% in April from 4.3% in March. This was also bigger than economists’ forecast of 7.3%.<\/p>\n

In news from the U.K., a report from Bank of England showed mortgage approvals increased more than expected in April, rising moderately to 86,921 in the month from 83,402 in March. The expected level was 84,980.<\/p>\n

Net mortgage borrowing fell to GBP 3.3 billion from a record GBP 11.5 billion in March. Economists had forecast borrowing to decline to GBP 6.6 billion. <\/p>\n<\/p>\n<\/div>\n