European equities exhibited a mixed bag of results on Friday, buoyed in part by encouraging U.S. economic indicators and solid technology sector earnings, which have temporarily eased fears surrounding tariffs.
The German DAX slipped 0.3%, while the French CAC 40 edged up 0.1%, and London’s FTSE 100 gained 0.2%.
On the economic front, German producer prices continued their downward trend, falling for the fourth consecutive month in June, driven by lower energy costs, according to Destatis. The producer price index registered a 1.3% decline year-over-year, accelerating from May’s 1.2% drop.
In corporate news, engineering firm Senior (LSE:SNR) rallied after announcing the sale of its Aerostructures business for up to £200 million and unveiling a £40 million share repurchase plan.
Luxury goods company Burberry Group (LSE:BRBY) also saw its shares climb following a better-than-anticipated performance in first-quarter comparable sales.
Chemical industry heavyweight BASF SE (TG:BAS) rose after finalizing a decade-long natural gas supply contract with Equinor.
Defense contractor Saab (BIT:1SAAB) jumped after reporting stronger-than-expected profits and sales for the second quarter.
Conversely, Salzgitter AG (TG:SZG) shares tumbled after the German steelmaker lowered its full-year outlook due to a sluggish second quarter.
Pharmaceutical giant GSK (LSE:GSK) faced pressure after a U.S. FDA advisory panel advised against approval of its blood cancer treatment, Blenrep.
Lastly, Electrolux, the Swedish appliance manufacturer, dropped sharply despite posting second-quarter operating profits above forecasts.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply