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Collapse of European indices: markets in the grip of recession fears


八月, 06 2024
watermark Economic news

On Monday, the main stock indexes of Western Europe ended trading with a significant drop amid a global sell-off of risky assets. The reason was fears of a recession in the United States and other regions of the world due to high interest rates.


The pan-European Stoxx Europe 600 index fell 2.17% to 487.05 points. The British FTSE 100 fell by 2.04%, the German DAX – by 1.82%, the French CAC 40 – by 1.42%, the Italian FTSE MIB – by 2.27%, the Spanish IBEX 35 – by 2.34%.


The eurozone composite PMI index fell to a five-month low of 50.2 points in July. In France, the composite PMI rose to 49.1 points, and in Germany it fell to 49.1 points.


The shares of Aurubis AG (-11.9%) became the leader of the fall among the components of the Stoxx Europe 600. Shares of banks, oil and gas companies, automakers and representatives of the luxury goods sector also showed a significant decrease.


Societe Generale's capitalization decreased by 1.7%. BNP Paribas shares fell by 1.8%, Deutsche Bank – by 2.6%, UniCredit – by 2.5%. The quotes of BP Plc, TotalEnergies, Equinor and Shell decreased by 3.1%, 2.7%, 2.8% and 3%, respectively.


Shares of automakers also fell: BMW by 2.7%, Volkswagen by 2.5%, Renault by 3.8%. LVMH securities fell by 1%, Kering – by 2.6%.


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外汇本质上有高度的投机性和复杂性,可能并不适合所有投资者。 外汇交易可能会带来重大的收益或损失。 因此,建议您不要承担无法承受的损失。 在使用ForexMart提供的服务之前,请确认外汇交易相关联的风险。 必要时寻求独立的财务意见。请注意,过去的业绩和预测都不是未来结果的可靠指标。