indexes in this article
PARIS / LONDON (dpa-AFX) – It was Thursday on the European stock exchanges, day one rate hike for eleven years, mostly for moderate profits. Although the leading indices in Frankfurt and Madrid closed slightly weaker and FTSE MIB in Milan suffered losses as a result of the government crisis, the daily EuroStoxx 50 (EURO STOXX 50) result was positive and increased by 0.31%. up to 3596.51 points Russian gas supplies have started again.
The French CAC 40 scored 6,201.11 points, an increase of 0.27 percent. Meanwhile, the UK’s FTSE 100 rose by just 0.09 percent to 7,270.51 points.
In Italy, however, the FTSE MIB (FTSE MIB Italy) index fell 0.7 percent after Prime Minister Mario Draghi’s resignation, fueling political uncertainty. The risk premium for 10-year Italian government bonds increased significantly compared to German bonds, which was once again perceived as a threat signal for heavily indebted Italy.
Driven by record-breaking inflation, the European Central Bank (ECB) is removing negative interest rates by 0.5 percentage points – and immediately announced a series of further interest rate hikes. Meanwhile, the focus has also been on the newly unveiled anti-crisis program to ensure that interest rate increases do not overburden countries such as Italy. According to traders, the doubts grew over time.
Investors remained in suspense due to the supply of Russian gas. The energy company GAZPROM will continue pumping gas to Europe after restarting the Nord Stream 1 gas pipeline over the Baltic Sea, but doubts remain. The German Industry Association (BDI) sees no great joy in this. “Time will tell whether the gas will actually flow in the long term and in the contractually agreed quantity,” said BDI CEO Siegfried Russwurm in Berlin.
Given the country’s political turmoil, Italian banks were among the losers. Intesa Sanpaolo lost 2.8 percent among EuroStoxx’s largest members, while UniCredit ultimately lost 3.4 percent. They both slightly limited their daily losses in the general environment of the sector. Banks across Europe reacted positively to statements by the European Central Bank (ECB) on interest rates on deposits.
“The ECB surprisingly raises the deposit rate to 0 percent instead of the expected minus 0.25 percent,” commented Salah-Eddine Bouhmidi, chief strategist at IG broker. European banks have benefited somewhat from this standardization and the sector has proved to be moderately positive. The same was true for ING (ING Group) and BBVA shares listed on EuroStoxx with a maximum increase of 0.7%.
Nokia’s shares were positively noticeable, with the price up 9.3 percent due to solid quarterly data. The network provider increased sales and profits in the second quarter. The Finns benefited from the dynamic development of the network infrastructure industry. Earnings per share increased by a third and fared better than analysts had expected.
Technology stocks, following US stocks, also enjoyed greater overall demand, with the Nasdaq 100 index they shape once again outperforming standard values. The Stoxx Europe 600 Technology sector index eventually grew by around two percent. The top two players in EuroStoxx, ASML (ASML NV) and Adyen (Adyen BV Parts Sociales), can be attributed to this sector, with an increase of up to 5.2 percent.
In Switzerland, top-notch characters were the topic of conversation. Despite solid results, Roche lost half a percent. Market participants talked about profit taking in view of the recent sharp rise in prices. Givaudan shares fell as much as 1.6 percent after the quarterly data. High costs affected profitability in the second quarter.
On the other hand, the situation was better for the ABB automation group (ABB (Asea Brown Boveri)), whose shares increased by 1.6%. The industrial group benefited from high demand in the second quarter. Accelleron’s subsidiary is also expected to go public in October / tih / ngu