Investor optimism in European stock markets has given way to caution. the Dax was down 0.2% Tuesday afternoon to 15,890 points. After crossing the 16,000 point mark last Friday, disappointing economic data from China put an end to the German benchmark’s record hunt at the start of the week. Concerns over the delta variant have clouded the outlook for growth, especially in some Asian economies, HSBC analysts said. However, the global growth momentum has already slowed since the middle of the second quarter.
The biggest declines in Europe came from the travel and leisure industries, as well as automakers and banks. In Dax, the titles of Daimler, Volkswagen and BMW lost between 1.3 and just under one percent. The paper from airport operator Fraport was one of the lowest values of M-Dax with minus 2.2%. Outside of the major indices, Tui stock fell more than 4%. Deutsche Bank and Commerzbank securities each fell 2%.
Advertising marketer Ströer has released encouraging quarterly figures, which are recovering from the corona shock thanks to significantly better outdoor advertising business and growth in the media and data division. In 2021, the group is still targeting sales close to the record level of the year preceding Corona. Ströer’s shares listed on M-Dax rose 0.6 percent. Varta stock benefited from a buy recommendation from analysts at DZ Bank with a premium of 5.5%. However, the battery maker’s shares lost a total of 23% of their value over the three trading days after Varta presented disappointing growth figures last week.
The London Stock Exchange rose sharply for the world’s largest listed mining group, BHP. Stocks rose 9.8% to a record high after the group nearly doubled profits in the past year.
Investors have also chosen Wall Street. the Dow jones was listed down 0.7% to 35,384 points shortly after trading began.