{"id":13236,"date":"2021-08-24T17:17:05","date_gmt":"2021-08-24T17:17:05","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/24\/major-european-markets-close-on-mixed-note\/"},"modified":"2021-08-24T17:17:05","modified_gmt":"2021-08-24T17:17:05","slug":"major-european-markets-close-on-mixed-note","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/24\/major-european-markets-close-on-mixed-note\/","title":{"rendered":"Major European Markets Close On Mixed Note"},"content":{"rendered":"
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European stocks failed to hold early gains and ended on a mixed note on Tuesday as investors largely stayed cautious amid a surge in coronavirus<\/span> cases of the Delta variant in several countries.<\/p>\n

Investors also looked ahead to the upcoming Jackson Hole Symposium for clues about when the Federal Reserve might start tapering its asset buying program.<\/p>\n

The U.S. drug regulator’s nod to the Pfizer-BioNTech COVID vaccine for people aged 16 and older aided sentiment. Positive German GDP data helped as well.<\/p>\n

The pan European Stoxx 600 edged down 0.02%. France’s CAC 40 declined 0.28%, while the U.K.’s FTSE 100 and Germany’s DAX gained 0.24% and 0.53%, respectively.<\/p>\n

Among other markets<\/span> in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Iceland, Ireland, Netherlands, Poland and Turkey closed higher.<\/p>\n

Denmark, Spain and Sweden drifted lower, while Norway, Portugal and Russia ended flat.<\/p>\n

In the UK market, Whitbread, Rolls-Royce Holdings, Evraz, Taylor Wimpey and Antofagasta gained 3 to 4.5%, while Rio Tinto and Informa both gained nearly 3%.<\/p>\n

Anglo American Plc, Barratt Developments, IAG, Glencore, IHG, Persimmon, Melrose Industries and Just Eat Takeaway.Com also rose sharply.<\/p>\n

Sainsbury (J) ended nearly 5% down on profit taking. The stock ended with a hefty gain on Monday, buoyed by a report saying private equity firms could launch offers of more than $9.6 billion.<\/p>\n

Imperial Brands, B&M, Kingfisher, Avast, Hikma Pharmaceuticals, Segro, GlaxoSmithKline, HSBC Holdings and AstraZeneca shed 1 to 2.2%.<\/p>\n

In France, Air France-KLM shares rallied nearly 6%. ArcelorMittal gained about 3.2% and Technip climbed 2.7%. Airbus Group, Accor, Publicis Groupe, Unibail Rodamco and Renault gained 1 to 1.5%.<\/p>\n

Carrefour, Hermes International, Michelin and LVMH lost 1.6 to 2%.<\/p>\n

In the German market, Thyssenkrupp surged up 4.2%. Lufthansa, Covestro, Infineon Technologies, BMW, Volkswagen and BASF gaine 2 to 3%. Daimler, Deutsche Bank, MTU Aero Engines and Continental also closed notably higher.<\/p>\n

On the economic front, official data showed Germany’s economy<\/span> grew at a faster than expected pace in the second quarter, underpinned by domestic demand.<\/p>\n

Gross domestic product grew a seasonally and calendar-adjusted 1.6% from the first quarter, when output decreased 2%, Destatis reported.<\/p>\n

An increase of 1.5% was estimated initially. In the second quarter of 2020, GDP fell 10% amid the peak of the Covid-19 pandemic.<\/p>\n

On a year-on-year basis, GDP grew 9.8% in the second quarter after a 3.3% fall in the first quarter. Growth was estimated as 9.2% in the flash estimate.<\/p>\n

UK retail sales rose at the fastest rate since late 2014, but the pace is expected to slow slightly next month, survey data from the Confederation of British Industry showed Tuesday.<\/p>\n

The balance of the CBI’s Distributive Trades Survey surged to 60 from 23 in July. Economists had expected it to ease to 20. The balance is expected to ease to 39 in September. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n