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 stocks muted as rise in yields, inflation bets curb initial gains

03/03/2021 | 12:16pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks ended flat on Wednesday, with gains in economy-sensitive sectors offset by a rise in bond yields as investors raised their inflation expectations for the year.

Consumer-oriented automobile and travel stocks were the day's best performers, while British stocks rose after finance minister Rishi Sunak extended emergency programmes to support the economy through the COVID-19 pandemic.

A strong outlook from Stellantis boosted the automobile sector.

The pan-European STOXX 600 index ended largely unchanged after opening stronger, with utility stocks leading losses in the euro zone.

Utilities are often considered as proxies for bonds, and are sold off when debt offers relatively higher yields.

European bond yields rose on Wednesday, while a market gauge of long-term euro zone inflation expectations rose to its highest level since May 2019. [GVD/EUR]

Healthcare and technology shares also suffered big losses as focus turned away from defensive stocks and towards sectors more likely to benefit from an economic recovery.

"Healthcare has performed well during difficult periods in the market. Now that conditions have improved, people are considering general recovery areas which are benefiting from a recovery economy," said Chris Bailey, European strategist at Raymond James.

Hopes of COVID-19 vaccines spurring a return to economic normality drove optimism about euro zone business activity to a three-year high in an IHS Markit survey.

British bank stocks rose after Sunak said the UK would review a tax surcharge on bank profits to make them more competitive against foreign rivals.

But Sunak also announced future tax hikes to offset the large hole left in public finances by current spending.

German stocks ended about 0.3% higher as investors anticipated a gradual easing of coronavirus curbs as a sluggish vaccination campaign accelerates. Falls in major technology stocks helped to drag them down from a record high hit earlier in the session, however.

Automobile supplier Continental jumped 5.4% after UBS upgraded its rating to "buy", citing "attractive" value creation from the company's plans to spin off its powertrain unit Vitesco.

Swiss logistics group Kuehne & Nagel International rose 7.1% to the top of the STOXX 600 as it notched up record full-year operating profit.

Shares in UK insurer Hiscox Ltd tumbled 11.8% to the bottom of the STOXX 600 as the firm swung to a huge loss for 2020 and continued to withhold a dividend.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu and Anil D'Silva)

By Sruthi Shankar and Ambar Warrick

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.00% 0.6452 Delayed Quote.2.79%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.01% 0.66749 Delayed Quote.3.50%
EURO STOXX 50 0.99% 4032.99 Delayed Quote.13.52%
HISCOX LTD 0.19% 860.2 Delayed Quote.-13.46%
IHS MARKIT LTD. 0.76% 103.94 Delayed Quote.14.84%
RAYMOND JAMES FINANCIAL, INC. -0.18% 129.76 Delayed Quote.35.88%
STELLANTIS N.V. 1.45% 15.244 Real-time Quote.0.00%
STOXX EUROPE 600 0.90% 442.49 Delayed Quote.10.89%
STOXX EUROPE 600 NR 0.91% 981.71 Delayed Quote.11.61%
UBS GROUP AG 1.93% 14.815 Delayed Quote.18.81%
All news about EURO STOXX 50
04/16EUROPE : European stocks notch new highs as Daimler earnings lift carmakers
04/16PRESS RELEASE  : Vonovia SE: Vonovia SE Shareholders approve EUR 1.69 dividend a..
04/15DGAP-ADHOC  : Daimler AG: Preliminary Q1 2021 results significantly above market..
04/15European Bourse Moving Higher Midday in Earnings Season, Strength in Commodit..
04/14European Bourses Edging Higher on Strength in Technology Issues
04/13EUROPE : European shares pause near record highs
04/13European Bourses Edging Sideways Midday on US CPI, COVID-19 Outlook
04/09EUROPE : European stocks on longest weekly winning streak since November 2019
04/09European Bourses Edging Higher Midday, Despite Inflation Concerns
04/08Eurostoxx 50 : European stocks hit record highs after Fed holds stance
More news
News of the index components EURO STOXX 50
04/16BMW  : Goldman Sachs remains Neutral
04/16World stocks scale fresh peaks on strong China, U.S. data
04/16ASML N  : Wells Fargo Adjusts Price Target on ASML Holding to $750 From $610, Ma..
04/16LOREAL  : Credit Suisse reaffirms its Sell rating
04/16ENI  : Credit Suisse remains Neutral
04/16DAIMLER  : Trucks North America Appoints Marcela Barreiro President & CEO of Dai..
04/16MERCEDES-BENZ CARS : Preliminary Q1 2021 Results significantly above market expe..
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
SIEMENS AG 145.96 Delayed Quote.4.26%
VOLKSWAGEN AG 245.05 Delayed Quote.2.85%
SAFRAN 122.9 Real-time Quote.2.72%
DAIMLER AG 77.39 Delayed Quote.2.69%
BNP PARIBAS 52.9 Real-time Quote.2.20%
INDUSTRIA DE DISEÑO TEXTIL, S.A. 28.42 Delayed Quote.-0.39%
ESSILORLUXOTTICA 139.08 Real-time Quote.-0.54%
DEUTSCHE BÖRSE AG 147.6 Delayed Quote.-0.57%
AMADEUS IT GROUP, S.A. 58.4 Delayed Quote.-1.15%
L'ORÉAL 336.55 Real-time Quote.-1.82%
Heatmap :