{"id":12624,"date":"2021-08-06T10:07:13","date_gmt":"2021-08-06T10:07:13","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/06\/european-shares-struggle-for-direction-in-lackluster-trade\/"},"modified":"2021-08-06T10:07:13","modified_gmt":"2021-08-06T10:07:13","slug":"european-shares-struggle-for-direction-in-lackluster-trade","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/06\/european-shares-struggle-for-direction-in-lackluster-trade\/","title":{"rendered":"European Shares Struggle For Direction In Lackluster Trade"},"content":{"rendered":"
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European stocks struggled for direction on Friday, with nervousness over the spread of the COVID-19 Delta variant coronavirus<\/span> and uncertainty about government policy in China keeping underlying sentiment cautious.<\/p>\n

Market participants also looked ahead to U.S. jobs data due later in the day for clues to the pace of economic recovery and the rate outlook.<\/p>\n

Investors shrugged off data showing that Germany’s industrial production declined unexpectedly in June.<\/p>\n

German industrial output dropped 1.3 percent in June from May, when production was down by revised 0.8 percent, Destatis reported. Economists had forecast production to grow 0.5 percent in June.<\/p>\n

Year-on-year, industrial output grew 5.1 percent, but slower than the 16.6 percent increase seen in May.<\/p>\n

The pan-European Stoxx 600 was marginally lower at 469.75 after four straight sessions of gains that took it to record highs. <\/p>\n

The German DAX edged up 0.2 percent, while France’s CAC 40 index and the U.K.’s FTSE 100 were little changed in lackluster trade. <\/p>\n

ING shares advanced 1.5 percent. The Dutch lender beat expectations for second-quarter profit after releasing money set aside for doubtful loans.<\/p>\n

Italian lender Banco BPM jumped 4.6 percent after it swung to a profit in the second quarter.<\/p>\n

London Stock Exchange Group jumped more than 4 percent after it reported a 4.6 percent rise in revenue for the first half of 2021.<\/p>\n

Hikma Pharma slumped 4.3 percent despite the company reporting higher first-half revenue and profits.<\/p>\n

BPO company Capita rose over 1 percent after delivering half-year results in line with expectations.<\/p>\n

Insurer Allianz rallied nearly 3 percent after it posted better-than-expected second-quarter earnings and issued a rosier outlook for the full year.<\/p>\n

Meal-kit delivery company HelloFresh tumbled 3.3 percent after lowering its 2021 profitability forecast. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n