Market Review

Nearly all European equity markets closed moderately higher

Stock indices of most of the leading economies in Western Europe ended with moderate growth trading on Tuesday.

The composite index of the largest companies in the region Stoxx Europe 600 increased by 0.24% and amounted to 414.38 points.

The German DAX indicator increased by 0.87%, the French CAC 40 – by 0.19%, the British FTSE 100 – by 0.18%. The Italian FTSE MIB added less than 0.01%, while the Spanish IBEX 35 lost 0.26%.

This week, the most important event for traders will be the meeting of the European Central Bank (ECB), which will be held on Thursday.

Meanwhile, on Tuesday it became known that the volume of orders of industrial enterprises in Germany in July fell by 1.1% compared with the previous month. Analysts on average expected a decline of 0.5%, according to data from Trading Economics. In June, according to revised data, the indicator fell by 0.3%, and not by 0.4%, as previously reported.

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Volkswagen (ETR:VOWG) AG added 3.7%. The German automaker has confirmed its intention to list the shares of luxury sports car maker Porsche (ETR:PSHG_p) AG. The IPO could be the largest in German history and the largest in Europe since 1999, according to Refinitiv data.

Deutsche Lufthansa AG (ETR:LHAG) added 1.5%. The German airline will continue negotiations with the pilots’ union to avoid a strike that would lead to the cancellation of numerous flights.

Finnair Oyj’s share price rose 1.1%, although the Finnish carrier reduced the number of passengers carried in August by 12% compared to the previous month.

Among the gainers among the components of the Stoxx Europe 600 index were shares of the German food delivery service Delivery Hero SE, which added 7.7%.

Energy companies led the decline, including Equinor (-6.7%), Orron Energy (-6.3%) and Uniper SE (-5.7%).

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