Stock Market

European stock indicators fell for the third session in a row

As a result of yesterday’s trading, the European stock market mostly fell, ending in the red for the third session in a row.

The composite index of the largest companies in the region Stoxx Europe 600 decreased by 0.65% and amounted to 414.78 points.

The German DAX fell 0.55%, the French CAC 40 – 1.04%, the Italian FTSE MIB – 0.21%. Meanwhile, the British FTSE 100 added 0.07%, the Spanish IBEX 35 – 0.37%.

Shell quotes fell 1.1%. The oil company’s chief executive, Ben van Beurden, will step down at the end of this year, Shell said on Thursday. From January 1, it will be headed by Wael Sawan, who is currently the director of the integrated gas development and renewable energy division.

Electricite de France SA fell 0.6%. The French energy company said that due to the reduction in electricity generation from nuclear power plants, its profit will be significantly lower this year than previously expected.

Wizz Air’s share price fell 5.6%. The Hungarian airline announced the purchase of 75 A321neo aircraft from Airbus (EPA:AIR). Quotations of papers Airbus fell by 0.6%.

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Analysts at Credit Suisse (SIX:CSGN) have upgraded Finnish telecommunications equipment maker Nokia to overweight from neutral and downgraded Sweden’s Ericsson to underweight from overweight. The cost of Nokia decreased by 1.2%, Ericsson – by 2.9%.

The biggest loser among Stoxx 600 components was retailer THG PLC, which tumbled 18.4%. The price of securities of the Swiss online pharmacy Zur Rose Group AG fell by 10%, the German supplier of warehouse equipment Kion Group – by 6.7%.

Meanwhile, shares of travel agency Carnival PLC jumped 8.2% to top the list of gainers in the index. Bank of Ireland Group PLC and CaixaBank S.A. rose by 5.9% and 5.85 respectively.

Investors were evaluating statistical data and corporate news yesterday.

Consumer prices in France, harmonized with the standards of the European Union, rose by 6.6% in annual terms in August, according to the final data of the country’s statistical office. Earlier it was reported about the rise of 6.5%, and experts did not expect a revision. However, inflation slowed down from 6.8% in July.

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