{"id":45171,"date":"2024-03-22T17:31:09","date_gmt":"2024-03-22T17:31:09","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/03\/22\/european-stocks-close-on-mixed-note-11\/"},"modified":"2024-03-22T17:31:09","modified_gmt":"2024-03-22T17:31:09","slug":"european-stocks-close-on-mixed-note-11","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/03\/22\/european-stocks-close-on-mixed-note-11\/","title":{"rendered":"European Stocks Close On Mixed Note"},"content":{"rendered":"
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European stocks ended on a mixed note on Friday with investors largely staying on the sidelines, or taking some profits after recent record highs. In addition to digesting the latest batch of economic data, markets<\/span> reacted to some earnings and other corporate updates.<\/p>\n

Although markets found support from recent dovish comments from central banks, investors appeared keen on taking some profits. <\/p>\n

The pan European Stoxx 600 edged down 0.03%. The U.K.’s FTSE 100 climbed 0.61% and Germany’s DAX advanced 0.15%, while France’s CAC 40 ended down 0.34%. Switzerland’s SMI settled lower by 0.44%.<\/p>\n

Among other markets in Europe, Denmark, Finland, Greece, Iceland, Poland, Russia, Sweden and Turkiye closed weak.<\/p>\n

Austria, Belgium, Netherlands, Norway, Portugal and Spain ended higher.<\/p>\n

In the UK market, Phoenix Group Holdings gained nearly 8.5% after the company reported a pretax profit for 2023. The company said cash generation in 2023 was 2.024 billion pound, up from 1.504 billion pound a year earlier.<\/p>\n

Natwest Group, WPP, Reckitt Benckiser, Hikma Pharmaceuticals, Prudential, Croda International and M&G gained 2 to 3%.<\/p>\n

Airtel Africa, M&G, Unilever, Scottish Mortgage, Smiths, Legal & General, Fresnillo and Centrica also posted strong gains.<\/p>\n

JD Sports Fashion ended lower by more than 6%. Ocado Group, Frasers Group, Rentokil Initial, RightMove, Taylor Wimpey and DCC also ended notably lower.<\/p>\n

In the German market, Siemens Energy surged nearly 4%. Zalando, Deutsche Post, Sartorius, Vonvoia, MTU Aero Engies and Covestro gained 1.7 to 3%. HeidelbergCement, Henkel, Deutsche Bank and Bayer also ended notably higher.<\/p>\n

Infineon, Munich RE, Puma, Fresenius Medical Care, Qiagen, Brenntag and Hannover Rueck ended down 0.8 to 2%.<\/p>\n

In Paris, WorldLine, Teleperformance, Edenred, Thales, Veolia, Carrefour, Dassault Systemes, Orange, Sanofi and Renault posted sharp to moderate gains.<\/p>\n

Kering, LVMH, Air Liquide, STMicroElectronics, Legrand, Alstom, Saint Gobain and Hermes International ended weak.<\/p>\n

Data from the Office for National Statistics showed UK retail sales remained unchanged in February after rebounding by a revised 3.6% in January. Sales were forecast to fall 0.4%.<\/p>\n

Excluding auto fuel, retail sales volume posted a slower monthly growth of 0.2% in February after climbing 3.4% in January.<\/p>\n

On a yearly basis, overall retail sales fell 0.4%, in contrast to the 0.5% increase, the data showed. Sales were forecast to drop 0.7%.<\/p>\n

UK consumer confidence stagnated in March but households turned positive about their future personal financial situation for the first time since 2021, survey results from the market research group GfK showed.<\/p>\n

The consumer sentiment index held steady at -21 in March. The score was forecast to improve to -19.<\/p>\n

Data released by Destatis showed Germany’s import prices dropped 5.9% year-over-year in January, slower than the 7% decline in December. Prices have been falling since March 2023.<\/p>\n

This is the first result after the conversion of import and export prices to the new base year 2021, Destatis said.<\/p>\n

German business<\/span> confidence improved in March, reports said citing survey results from the ifo Institute. The business sentiment index rose more-than-expected to 87.8 in March. The score was forecast to climb to 86.0 from February’s initially estimated value of 85.5. <\/p>\n<\/p>\n<\/div>\n