Omicron, European stocks fall in threat of inflation

Date:

European stocks fell on Thursday with prudent trading due to concerns around Omicron coronavirus Inflation variants and warnings from major emotion-focused central banks.

The Pan-European Stocks Europe 600 Index rose 0.8% to 466.91, after rising 1.7% on Wednesday.

Germany’s DAX fell 0.8%, while France’s CAC 40 index and the UK’s FTSE 100 each fell by about 0.7%.

Chip makers Infineon Technologies, ASML Holding, and AMS fell 2-4% after Apple reported to some parts suppliers that demand for the iPhone 13 was slowing.

ThyssenKrupp fell about 1% in volatile trading. German industrial engineering and steel producers said in a statement that they expect profits to recover during the current fiscal year, despite continued headwinds and other hurdles associated with Covid-19. ..

Saffron rose 0.7%. The French aerospace company said it expects organic revenue growth to reach a CAGR of 10% from 2021 to 2025.

Luxury company Hermes fell about 2% despite being included in the Eurostocks 50 Index.

Sandvik AB fell about 1%. A Swedish engineering company has signed an agreement to acquire Australian private company Deswik, a provider of mining planning software, for a private amount.

Miners Anglo American, Antofagasta and Glencore fell 1-2 percent after the OECD warned that the new Covid-19 variant could further exacerbate growth slowdown.

Chemistry and engineering firm Johnson Matthey gave up 1.7%, and technology darling Darktrace fell 3.3% in London after confirming that index manager FTSE Russell was banished from the FTSE 100 index. bottom.

Oil and gas company Royal Dutch Shell has risen about 1% after announcing the start of share buybacks of up to $ 1.5 billion.

Electra Private Equity rose 3.7%. Private-equity investors said they will soon begin the process of transitioning from the UK’s major equity markets to the junior AIM market.

Contact for comments and feedback: editorial@rttnews.com

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Omicron, European stocks fall in threat of inflation

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