Egyptian authorities race to contain fallout from fatal telecom fire    Egypt's electricity, public enterprises ministers discuss expanding renewables in energy-intensive industries    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    Egypt's bourse, clearing house say settlement, connectivity unharmed by Ramsis blaze    CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding    Philippines' unemployment rate falls in May '25    Gold prices dip on stronger US Treasury yields    Egypt, Somalia leaders discuss strategic partnership, counterterrorism in New Alamein    Egypt, UNDP discuss expanded cooperation on medical waste management, human development    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Egypt, Uruguay eager to expand trade across key sectors    Egypt, Norway hold informal talks ahead of global plastic treaty negotiations    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European markets close mixed amid gains; Wirecard shares rise 14%
Published in Amwal Al Ghad on 05 - 02 - 2019

European markets closed in mixed territory Monday, as market participants monitored another flurry of corporate earnings results.
The pan-European Stoxx 600 closed provisionally barely changed, with sectors and major bourses pointing in different directions.
Europe's autos stocks, with their heavy exposure to China, led the losses on Monday, down more than 1 percent. Faurecia, Valeo and Hella all tumbled around 3 percent.
European banks were also under pressure, on the back of earnings news. Julius Baer fell over 4 percent after reporting results that missed expectations.
Spanish lenders Caixabank and Banco Sabadell dropped 4.5 percent and 4.8 percent respectively, after multiple brokers cut share price targets on the back of disappointing earnings.
Looking at individual stocks, Germany's Wirecard surged to the top of the European benchmark during morning trade. It comes after the payments company said a law firm it appointed made no conclusive findings of criminal wrongdoing by any of its employees. Shares of Wirecard jumped almost 14 percent on the news.
Meanwhile, Ireland's Ryanair fell almost 2 percent following the release of its latest quarterly earnings. Europe's biggest budget airline reported a 6 percent drop in fares in the final three months of 2018 and warned overcapacity would likely continue to drive prices lower, albeit at a slower pace than forecast.
On the data front, growth in Britain's construction industry dipped to its lowest level since March 2018. Official data showed U.K. construction PMI fell to 50.6 in January, down from 52.8 in December.
The business survey results showed uncertainty surrounding Brexit had dragged on the construction industry, most notably with commercial building work.
Jobs data
On Wall Street, stocks fell as investors awaited earnings reports from the likes of Google parent Alphabet and biotech firm Gilead Sciences.
Market focus is largely attuned to economic data. A U.S. Labor Department report on Friday showed nonfarm payrolls jumped by 304,000 last month — the largest gain since February 2018.
The jobs report, along with better-than-expected manufacturing figures, pointed to underlying strength in the world's largest economy.
Source: CNBC


Clic here to read the story from its source.