TeleTrade - Analytics

    TeleTrade

    884.00 6.50/10
    65% of positive reviews
    Real

    05.08.2015 10:05 European stock markets mid session: stocks traded higher on positive corporate earnings reports

    Stock indices traded higher on positive corporate earnings reports. Shares of Société Générale SA and Beiersdorf AG among the biggest gainers.

    Meanwhile, the economic data from the Eurozone was mixed. Retail sales in the Eurozone dropped 0.6% in June, missing expectations for a 0.3% fall, after a 0.1% increase in May. May's figure was revised down from a 0.2% rise.

    The increase was driven by lower food, drinks and tobacco and non-food sales. Food, drinks and tobacco sales declined 0.8% in June, while non-food sales decreased 0.2% in May.

    Gasoline sales were flat in June.

    On a yearly basis, retail sales in the Eurozone rose 1.2% in June, missing forecasts of a 1.9% gain, after a 2.6% increase in May. May's figure was revised up from a 2.4% rise.

    The annual rise was driven by non-food sales, gasoline sales, and food, drinks and tobacco and non-food sales.

    Non-food sales gained 2.3% in June, gasoline sales increased 1.8%, while food, drinks and tobacco sales rose 0.1%.

    Eurozone's final services purchasing managers' index (PMI) decreased to 54.0 in July from 54.4 in June, up from the preliminary reading of 53.8.

    The index was driven by rises in new business and employment.

    Eurozone's final composite output index fell to 53.9 in July from 54.2 in June, up from the preliminary reading of 53.7.

    "The Eurozone economy showed reassuring resilience in the face of the Greek debt crisis in July. Despite a record deterioration in Greek business conditions amid extended bank closures, the overall pace of economic growth across the region barely slowed from June's four-year high," Chief Economist at Markit Chris Williamson said.

    He added that Eurozone's GDP expanded 0.4% in the second quarter, according to the recent data.

    Germany's final services purchasing managers' index (PMI) remained unchanged at 53.8 in July, up from the preliminary reading of 53.7.

    The index was driven by rises in business activity and new orders.

    France's final services purchasing managers' index (PMI) dropped to 52.0 in July from 54.1 in June, in line with the preliminary reading.

    The decline was partly driven by a weaker rise in incoming new business.

    Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. fell to 57.4 in July from 58.5 in June, missing expectations for a decline to 58.0.

    A reading above 50 indicates expansion in the sector.

    The decline was partly driven by a slower growth in employment.

    "A deterioration in service sector growth is the latest in a stream of signals that the economy has slowed as we move into the second half of the year. The fall in the services PMI follows signs of ongoing weakness in manufacturing and a renewed slowing in the construction sector," the Chief Economist at Markit Chris Williamson said.

    Current figures:

    Name Price Change Change %

    FTSE 100 6,698.72 12.15 0.18 %

    DAX 11,580.4 124.33 1.09 %

    CAC 40 5,165.4 53.26 1.04 %


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree