Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

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


August, 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%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.