Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary


SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

European shares retreat on rising bond yields; logs best week since November

03/12/2021 | 12:13pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - Rising bond yields dragged European stocks lower on Friday, although major bourses were set for weekly gains as stimulus and vaccination programmes spurred hopes of a solid economic recovery.

The pan-European STOXX 600 index fell 0.3% after a four-session winning streak drove it to pre-pandemic highs a day earlier. The index posted weekly gains of 3.5%, its best performance since November.

Tame U.S. inflation data and signs from the European Central Bank that it was ready to accelerate money-printing to keep a lid on borrowing costs helped boost risk appetite this week.

"It's not quite the end to the week that investors had hoped," said Russ Mould, investment director at AJ Bell

"However, markets are still ahead on the week and the recent sell-off in tech stocks looks like it has stabilised, which is important for investor sentiment."

With government bond yields in the United States and Europe rising again on Friday, investors took some money off the table.

"On one hand, we had the ECB that tried to talk down yields, but at the same time we had the final approval of the big Biden stimulus package that drove U.S. yields somewhat higher again," said Bert Colijn, senior euro zone economist at ING.

U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law on Thursday, with direct deposits from the legislation expected to go to Americans as early as this weekend.

While the stimulus is expected to give a boost to the U.S. economy, it has also raised worries about a spike in inflation that could push central banks to tighten monetary policy.

The tech sector fell the most in Europe, down 2.1%, while automakers and miners also weighed.

Dutch tech investor Prosus, which holds a third of Chinese tech giant Tencent Holdings, dropped 6.7% as China's market regulator fined 12 companies, including Tencent, related to deals that demonstrated illegal monopolistic behaviours.

German carmaker Daimler declined 1.9% after French rival Renault sold its entire stake in the company at a discount.

BMW fell 1.3% after saying its operating profit for 2020 fell due to the COVID-19 pandemic, despite a strong second-half rebound in sales.

British luxury group Burberry jumped 6.9% to the top of STOXX 600 after saying it had seen a strong rebound in sales since December.

Italy's Brunello Cucinelli surged 8.2% after the luxury goods maker raised its sales forecast for the year on expectations that the end of the pandemic was near.

(Reporting by Sruthi Shankar and Devik Jain in Bengaluru; Editing by Subhranshu Sahu, Anil D'Silva and Dan Grebler)

By Sruthi Shankar and Shreyashi Sanyal

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC -1.17% 420.6 Delayed Quote.-2.98%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.02% 0.6185 Delayed Quote.-1.28%
BMW AG -1.40% 83.88 Delayed Quote.16.13%
BRUNELLO CUCINELLI S.P.A. 0.38% 52.3 Delayed Quote.46.50%
BURBERRY GROUP PLC -1.53% 2064 Delayed Quote.15.34%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.07% 0.676119 Delayed Quote.4.98%
DAIMLER AG -1.14% 75.28 Delayed Quote.30.26%
EURO STOXX 50 -0.67% 4089.3 Delayed Quote.15.11%
PROSUS N.V. -2.11% 74.85 Real-time Quote.-15.29%
RENAULT -3.35% 32.025 Real-time Quote.-10.44%
STOXX EUROPE 600 -0.45% 461.74 Delayed Quote.15.72%
STOXX EUROPE 600 NR -0.45% 1033.73 Delayed Quote.17.52%
TENCENT HOLDINGS LIMITED -2.64% 479 End-of-day quote.-15.07%
All news about EURO STOXX 50
07/30EURO STOXX 50 Index Ends the Month 0.62% Higher at 4089.30 -- Data Talk
07/30Eurostoxx 50 : European shares slip but log sixth straight month of gains
07/30STOXX EUROPE 600 : European Bourses Track Lower Midday on Pandemic, Risk-Off Moo..
07/29EURO STOXX 50 Index Ends 0.33% Higher at 4116.77 -- Data Talk
07/29Eurostoxx 50 : European stocks close at new highs on earnings lift
07/29STOXX EUROPE 600 : European Bourses Track Higher Midday On Earnings Season Resul..
07/28EURO STOXX 50 Index Ends 0.94% Higher at 4103.03 -- Data Talk
07/28EUROPE : European stocks rise as earnings lift sentiment ahead of Fed
07/28STOXX EUROPE 600 : European Bourses Tracking Higher Midday Ahead of US Federal R..
07/28S&P/TSX COMPOSITE INDEX : BMO's Markets Wrap
More news
News of the index components EURO STOXX 50
05:02pDAIMLER : TotalEnergies 24 Hours of Spa - Interim reports
09:02aDAIMLER : TotalEnergies 24 Hours of Spa - Intermediate reports
05:12aDGAP-CMS : Linde plc: Release according to Article 50 of the WpHG [the German Se..
07/30AIRBUS : Three finalist teams are selected for Airbus' Sustainable Mobility Chal..
07/30AIRBUS : Second SurRender article
07/30AIRBUS : Foundation Annual Report 2020
07/30BMW : Walkenhorst Motorsport to start the 24-hour race at Spa-Francorchamps from..
More news
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
ESSILORLUXOTTICA 159.16 Real-time Quote.3.38%
LINDE PLC 307.39 Delayed Quote.2.65%
DANONE 62.06 Real-time Quote.1.97%
SCHNEIDER ELECTRIC SE 141.3 Real-time Quote.1.80%
KONINKLIJKE PHILIPS N.V. 38.89 Real-time Quote.0.73%
ANHEUSER-BUSCH INBEV 53.4 Real-time Quote.-2.64%
ADYEN N.V. 2289.5 Real-time Quote.-2.84%
ENEL S.P.A. 7.78 Delayed Quote.-2.93%
ENGIE 11.252 Real-time Quote.-3.00%
AMADEUS IT GROUP, S.A. 55.24 Delayed Quote.-4.20%
Heatmap :