European Stocks Close Mixed
European stocks closed near the flatline of Friday as a variety of corporate results drove nearly all sectors to trade in mixed fashion while investors continued to assess the latest economic data for hints on the ECB’s policy outlook.
The Eurozone’s Stoxx 50 added 0.1% to 4,940 and the pan-European Stoxx 600 dropped 0.1% to close at 519. Vinci sank by 3.5% after delivering poor results in the third quarter, in addition to warning investors that a new tax being mulled by French policymakers could further dent returns. Also, Mercedes-Benz closed 1% lower after its profits halved in the third quarter. In contrast, Sanofi added 2.5% after the French pharmaceutical beat on earnings and profit rose.
Meanwhile, Eurozone consumer inflation expectations fell again in September to consolidate bets that the ECB is due to continue cutting its main interest rates. Also, Germany’s Ifo business climate topped forecasts but Italian consumer and business confidence gauges missed market expectations.
Source : CNBC
