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MarketScreener Homepage  >  Indexes  >  Switzerland  >  Euro Stoxx 50       EU0009658145


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12:05pEUROPE : European shares end higher on upbeat German data
06:55aEuropean Bourses Mostly Higher Midday, Frankfurt Gaining, Tech Sector Stabilizes
01:20aAsia markets slide as higher bond yields test tech sector
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

European stocks sapped by weak economic data, travel curbs

01/22/2021 | 12:23pm EST
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks ended lower on Friday, closing out another lacklustre week as business activity in the euro zone shrank in January after stringent lockdowns to control the coronavirus pandemic shuttered many businesses.

The pan-European STOXX 600 index fell 0.6%, but clung to a small 0.2% rise for a week, dominated by hopes for massive U.S. stimulus under President Joe Biden.

Travel and leisure stocks fell 2.5%, leading declines among sectors amid concerns over fresh travel restrictions in Europe. Other economically sensitive sectors like banks, oil & gas and mining shed more than 1%.

IHS Markit's flash composite Purchasing Mangers' Index (PMI) for the euro zone fell further below the 50 mark separating growth from contraction, hitting 47.5 in January from December's 49.1.

The bloc's dominant service industry was hit hard with hospitality and entertainment venues forced to remain closed, but manufacturing remained strong as factories largely stayed open.

The auto-heavy German DAX fell 0.2%, France's CAC 40 dropped 0.6%, and euro zone stocks were down 0.6%.

The sealing of a post-Brexit trade deal, unprecedented stimulus measures from central banks and governments, and hopes that COVID-19 vaccines will spur a faster economic rebound drove the STOXX 600 to a near 11-month high this week.

"There is quite a big discussion in the market on whether the consensus is too bullish, or if we need to have a pullback," said Graham Secker, chief European equity strategist at Morgan Stanley.

"I think this is more about the fact the markets had a strong run over the past few months. Maybe it gives people an excuse for some profit-taking.

"While the long-term narrative is intact, the market tends to give the benefit of doubt."

A European Central Bank survey showed the euro zone economy is likely to rebound this year - but at a slower pace than expected only a few months ago - before making up the lost ground in 2022.

Germany's Lufthansa, Air France and British Airways-owner IAG fell between 2.5% and 3.4%, while holiday group TUI tumbled 17.2% after the European Union proposed to label hotspots of COVID-19 infections as "dark red" zones.

Travellers from those areas will have to take a test before departure and undergo quarantine.

The UK's FTSE 100 fell 0.3% and midcap stocks slid 1.0% after Britain's retail sales marked a weak end to their worst year on record in December, while business activity contracted sharply in the latest month.

Italian stocks fell 1.5% after the country's main ruling parties flagged snap elections as the only way out of its political impasse if Prime Minister Giuseppe Conte fails to drum up a parliamentary majority after scraping through a confidence vote this week.

Helping limit losses in Germany's DAX, engineering group Siemens AG jumped 7.3% on stronger-than-expected preliminary results for its first quarter.

The world's largest carmaker Volkswagen rose 1.9% as a rebound in premium car sales in China and stronger fourth-quarter deliveries helped keep it in the black last year, though its profit almost halved due to the impact of the pandemic.

(Reporting by Sruthi Shankar and Amal S in Bengaluru; Editing by Arun Koyyur and Jan Harvey)

By Sruthi Shankar and Amal S

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CAC 40 0.31% 5797.98 End-of-day quote.4.11%
DAX 0.80% 13976 End-of-day quote.1.69%
DEUTSCHE LUFTHANSA AG 3.52% 12.07 End-of-day quote.5.59%
EURO / BRITISH POUND (EUR/GBP) 0.00% 0.8605 End-of-day quote.-3.21%
EURO STOXX 50 0.46% 3705.99 End-of-day quote.3.84%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 4.02% 188.9 End-of-day quote.11.45%
LONDON BRENT OIL 2.98% 67.04 End-of-day quote.27.27%
MORGAN STANLEY 3.11% 79.91 End-of-day quote.12.94%
S&P UNITED KINGDOM (PDS) 0.48% 1323.47 End-of-day quote.2.47%
SIEMENS AG 1.00% 130.92 End-of-day quote.11.90%
STOXX EUROPE 600 0.46% 413.21 End-of-day quote.3.08%
TUI AG 13.13% 5.23 End-of-day quote.41.68%
VOLKSWAGEN AG 1.01% 172.62 End-of-day quote.14.16%
WTI 3.25% 63.21 End-of-day quote.27.83%
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Euro Stoxx 50 Technical Analysis Chart | MarketScreener
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Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
AIRBUS SE 102.72 Real-time Quote.3.81%
BAYER AG 55.075 Real-time Estimate Quote.3.25%
AMADEUS IT GROUP, S.A. 60.53 Real-time Estimate Quote.2.25%
ENI S.P.A. 9.634 Real-time Estimate Quote.2.23%
CRH PLC 37.11 Real-time Quote.2.06%
AIR LIQUIDE 129.3 Real-time Quote.-0.81%
DEUTSCHE BÖRSE AG 134.975 Real-time Estimate Quote.-0.94%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 532.8 Real-time Quote.-1.22%
L'ORÉAL 307.2 Real-time Quote.-1.44%
PROSUS N.V. 99.44 Real-time Quote.-1.79%
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