{"id":44210,"date":"2024-02-27T09:40:21","date_gmt":"2024-02-27T09:40:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/02\/27\/mixed-data-keep-european-shares-on-edge\/"},"modified":"2024-02-27T09:40:21","modified_gmt":"2024-02-27T09:40:21","slug":"mixed-data-keep-european-shares-on-edge","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/02\/27\/mixed-data-keep-european-shares-on-edge\/","title":{"rendered":"Mixed Data Keep European Shares On Edge"},"content":{"rendered":"
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European stocks struggled for direction on Tuesday as a slew of data painted a mixed picture of regional economies. <\/p>\n

Survey results from market research group GfK showed consumer confidence in Germany is set to improve slightly in March.<\/p>\n

The forward-looking consumer sentiment index rose to -29.0 in March from -29.6 in February – matching economists’ expectations.<\/p>\n

Monthly survey results from the statistical office INSEE showed France’s consumer confidence unexpectedly weakened in February.<\/p>\n

The consumer sentiment index fell to 89 from 91 in the previous month. The score was forecast to improve to 92.<\/p>\n

Elsewhere, data from the British Retail Consortium showed U.K. shop price inflation weakened to a near two-year low in February.<\/p>\n

The shop price index posted an annual increase of 2.5 percent on a yearly basis in February, slower than the 2.9 percent rise in January. This was the lowest since March 2022. <\/p>\n

The pan European STOXX 600 was marginally lower at 495.39 as U.S. and Eurozone inflation data loomed. <\/p>\n

The German DAX rose 0.4 percent, while France’s CAC 40 and the U.K.’s FTSE 100 were marginally higher. <\/p>\n

Shares of SEB plunged 5 percent after Peugeot Invest successfully sold a stake in the household equipment manufacturer.<\/p>\n

A softer dollar lifted mining stocks, with Anglo American climbing 2.7 percent.<\/p>\n

Asset manager Abrdn soared almost 5 percent after narrowing its full-year losses and announcing plans to cut around 500 jobs as part of a cost reduction program.<\/p>\n

Medical device giant Smith & Nephew rallied 2.5 percent after posting improved financial results for Q4 and full year 2023.<\/p>\n

French retailer Casino jumped 53 percent after a French court gave the green light for its restructuring plan.<\/p>\n

Capgemini shares edged up slightly. The technology<\/span> company has inked a over 100 million euros deal with TenneT, a European transmission system operator, to design, build, and implement a cloud platform to boost the functioning of TenneT.<\/p>\n

Construction-to-telecoms conglomerate Bouygues rallied more than 6 percent after posting annual core profit above its guidance.<\/p>\n

Germany’s Schaeffler AG gained 1.3 percent after announcing plans to build a new facility for e-mobility solutions in the U.S.<\/p>\n

PUMA traded slightly higher, giving up early gains. The sportswear firm expects a soft first half of 2024, but nevertheless stuck to the annual targets it gave in January. <\/p>\n<\/p>\n<\/div>\n