European stock markets broke a four-day winning streak on Wednesday, as U.S. lawmakers scrambled to hammer out an agreement to raise the debt ceiling, before the country runs out of borrowing authority on Thursday.
The Stoxx Europe 600 index dropped 0.3% to 313.99, after closing at the highest level in almost a month on Tuesday.
France’s CAC 40 index dropped 0.5%, Germany’s DAX 30 index inched higher to 8,806.89, extending an all-time high, while the U.K.’s FTSE 100 index dropped 0.2%.
Data showed Eurozone trade balance came at EUR +7.1 bln in August after 18 bln earlier. Separate report showed the Sep consumer prices improved to 0.5% m/m and 1.1% y/y.
In UK the number of unemployed people in the UK fell by 41.7K in September, following a 41.6K drop registered in August, National Statistics reported on Wednesday. This result is more positive than the expected 25K decrease. The Claimant Count Rate was at 4%, following a 4.2% reading. The ILO Unemployment Rate remained unchanged at 7.7% in August.
Shares of Danone SA lost 3.5% after the yogurt firm cut its full-year targets.
LVMH Moet Hennessy Louis Vuitton SA slid 5.7% after the luxury goods firm said late Tuesday that sales at its core fashion and leather goods division fell in the third quarter.
Publicis Groupe SA slipped 1.9%. The company, which plans to merge with Omnicom Group Inc. to form the world’s biggest advertising firm, reported slower third-quarter sales growth because of weaker spending on adverts in China. Revenue rose 3% to 1.68 billion euros from a year earlier, sales climbed 3.5%. They had increased 5% in the previous quarter.
Ubisoft Entertainment SA sank 24% after the company cut its full-year sales forecast by as much as a third and predicted an operating loss after delaying the release of two major games.
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