EU Stock

European Stocks Retreated as Evergrande Woes Lingered

On Friday, European stocks retreated from their 3-day rally as Evergrande woes lingered on the global market. 

Accordingly, the benchmark STOXX 600 shed 0.81% or 3.81 points to $463.69 per share.

Meanwhile, AstraZeneca PLC. climbed 2.53% or 8.52 points to $355.41 per share.

The pharmaceutical giant struck a deal with startup VaxEquity as they developed a self-amplifying RNA technology platform. 

Then, athletic wear stocks also posted losses as Adidas AG lowered 2.96% or 10.27 points to $328.97 per share. 

Similarly, its rival Puma SE plunged 2.06% or 2.35 points to $117.48 per share.

Likewise, JD Sports Fashion PLC decreased 1.37% or 0.56 points to $41.84 per share.

Moreover, the European STOXX 50 index declined 0.94% or 39.27 points to $4,155.65 per share.

In Paris, the CAC 40 index fell 0.87% or 58.55 to $6,643.43 per share. 

At the same time, German shares dived in the early trading.

The MDAX Performance index plummeted 0.46% or 163.62 points to $35,319.87 per share.

Subsequently, the DAX 40 index plunged 0.84% or 131.64 points to $15,512.33 per share.

On the London Stock Exchange, the FTSE All-Share index lost 0.39% or 16.04 points to $4,065.21 per share. 

Consequently, the FTSE 100 index tumbled 0.38% or 26.59 points to $7,051.76 per share.

The Evergrande’s snowballing debt crisis added to an already downbeat mood in the global market. 

Accordingly, investors already struggle with the surge of the Delta variant infections and the slowdown of economic recovery. 

Moreover, traders kept an eye close to the gradual development of the crisis.

Global Market Mixed While Europe Retreated


Furthermore, shares on the global market mixed while European stocks retreated amid worries about the China Evergrande crisis.

On Wall Street, US shares posted gains as European stocks declined. 

The Dow Jones Industrial Average index improved 1.48% or 506.50 points to $34,764.82 per share.

In addition, the benchmark Nasdaq Composite edged up 1.04% or 155.40 points to $15,052.24 per share. 

Consequently, The S&P 500 index rose 1.21% or 53.34 points to $4,448.98 per share.

In the Asia-Pacific region, Japan’s Nikkei index surged 2.06%, or 609.41 points to $30,248.81 per share.

The broader TOPIX index followed the hike as it increased 2.31% or 47.20 points to $2,090.75.

Meanwhile, the Shanghai Composite index plunged 0.79% or 28.70 points to $3,613.52 per share. 

Also, the Shenzhen Component Index shed 0.16% or 23.66 points to $14,363.70 per share.

Elsewhere, Australia’s S&P/ASX 200 index fell 0.37% or 27.60 points to $7,342.60 per share.

Read also: Fundiza review | Is Fundiza a Good Broker?

User Review
0 (0 votes)


Leave a Reply