(RTTNews) – European stocks closed on Monday on a note, as encouraging knowledge of the eurozone, China and the UK helped mitigate considerations of the global economic recovery and triggered rampant purchases almost everywhere.
This was a weak start for peak markets, adding the main ones, as considerations of peaks in coronavirus cases and fears of new blocking measures hurt sentiment. However, the stock gradually recovered and continued to rise as the day progressed and, despite everything, it all ended on a positive note.
The pan European Stoxx 600 surged up 2.05%. The U.K.’s FTSE 100 climbed 2.29%, Germany’s DAX jumped 2.71%, France’s CAC 40 rose 1.93% and Switzerland’s SMI ended stronger by 2.24%.
Among other markets in Europe, Austria, Belgium, the Czech Republic, Denmark, Finland, Ireland, the Netherlands, Norway, Portugal, Spain and Sweden ended in a note, with their emerging benchmarks from 1 to 2.3%.
In the UK market, Lloyds Banking Group shares rose by more than 6%. Smurfit Kappa Group won 5.3%, WPP, Intertek Group, Prudential, Hargreaves Lansdown, CRH, Aveva Group, Ocado Group, Antofagasta, Rio Tinto, Ashtead Group and Aviva won for Array6%.
Melrose, DCC, Barclays, Standard Life, Hikma Pharmaceutical, Ferguson and Scottish Mortgage increased considerably.
HSBC Holdings shares fell 2.85% after the bank reported a 65% drop in first-half earnings. Carnival and Hiscox ended with a drop of about 3.4%.
In France, Vivendi grew by 6.5%. Engie won 5.4%, Technip, Saint Gobain, Renault and Bouygues finished 4.4 to 5% stronger.
Unibail Rodamco lost more than 6%. L’Oréal and Essilor lost 1.7% and 1.5% respectively. Societe Generale ended 0.6% after recording a loss of 1.260 million euros in the quarter.
In the German market, Volkswagen, Daimler and Munich RE increased from 4.2% to 5%. Bayer, Continental, Merck, Siemens, BASF, Deutsche Bank, Deutsch Post, Allianz, Covestro, SAP, BMW, HeidelbergCement, Vonovia, Adidas, Deutsche Telecom, Thyssenkrupp and Fresenius Medical Care rose from 2% to 4%, while Lufthansa fell more than 3%
In economic news, a survey showed that chinese factory activity grew at the fastest rate of the decade in July, helping to dispel considerations about the Covid-19 pandemic in the global economy. The Caixin Manufacturing Purchasing Managers Index rose to 52.8 in July from 51.2 in June.
The euro area’s production sector first expanded again in July in a year, and some of production and demand continued as restrictions on coronavirus disease decreased further, as the latest knowledge of IHS Markit showed.
Britain’s production sector grew to the maximum in more than a year in July, and production expansion peaked at 32 months due to further relaxation of blockade situations due to coronavirus disease, the latest knowledge of IHS Markit showed on Monday.
The IHS Markit /Chartered Institute of Procurement – Final Purchasing Manager Supply Index peaked at 16 months in July, up from June 50.1. However, this figure decreases more than the immediate estimate of 53.6.
Consumer value in Switzerland fell for the sixth month in a row in July, but at a more moderate pace, according to the knowledge of the Federal Bureau of Statistics. The customer’s value index fell 0.9% year-on-year in July, following a 1.3% decline in June. Economists expected a decline of 1.1%.
On a monthly basis, customer costs fell by 0.2% in July. Economists forecast a 0.4% decline.
The underlying CPI fell 0.4% consistent with the year in July and 0.2% in the last month. The EU measure of the highest harmonised customer value index across 0.1% consistent with July and decreased by 1.2% in the last year.