European stocks mixed; stronger-than-expected German economic growth helps

24.02.2021 - Petr Mazaylo
European stocks mixed; stronger-than-expected German economic growth helps

European stock markets were mixed on Wednesday as Germany posted stronger-than-expected economic data. Corporate earnings also weighed on markets.

Germany’s DAX was up 0.4%, while France’s CAC 40 dropped 0.1% and the U.K.’s FTSE index lost 0.7%.

Germany posted stronger-than-expected economic output in the fourth quarter of 2020 as it grew 0.3%. It was bigger than the previous estimate of 0.1% growth, thanks to upbeat export activities and massive construction activity.  Germany’s 2020 GDP figure was also reset to -4.9% from -5.0%.

Also helping the bullish rally in the European stock markets was France’s improved manufacturing sentiment in February, its third monthly increase, though falling shorter than expected.

On the corporate side, Lloyds stock improved 1.3%, following its freshly set goals of expanding its insurance and wealth business and further cut costs.

On the losing end, AstraZeneca closed Wednesday trading with a 1.4% decline and Puma stock dropped 3.2%.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?