Home Stock Market Wall Street tax hangovers weigh heavily on European markets

Wall Street tax hangovers weigh heavily on European markets


European stocks struggled to gain traction on Friday, taking signs from a weaker Wall Street close caused by reports that wealthy Americans are facing tax hikes. capital income.

Stoxx Europe 600 index
SXXP,
-0.13%

Slightly lower at 439.60, after closing the third highest in history and up 0.7% on Thursday. On a weekly basis, the index is down 0.7%, marking the first weekly decline since late February.

DAX of Germany
DAX,
-0.28%

sliding 0.2%, index CAC 40 of France
UKX,
-0.25%

increase 0.1% and the FTSE 100
UKX,
-0.25%

dip 0.2%. GBP
GBPUSD,
+ 0.26%

was up about 0.3% against the US dollar at $ 1,3882.

US stock futures
ES00,
+ 0.26%

NQ00,
+ 0.18%

YM00,
+ 0.22%

inching higher, hinting at a rebound in stocks thereafter. Session Thursday exit the Dow Jones Industrial Average with a loss of 321 points, following a report on Bloomberg News that President Joe Biden will propose to nearly double the capital income tax rate for wealthy Americans. S&P 500
SPX,
-0.92%

and the Nasdaq Composite
COMP,
-0.94%

0.9% loss each.

There are already good signs in the new European economic data. The IHS Markit Euro Area Purchasing Managers’ Composite Index (PMI) rose to a nine-month high of 53.7, with the euro zone manufacturing output PMI at a high level. record and service PMI at eight-month highs.

β€œIn a month where virus containment measures were tightened in the face of the next wave of infections, the eurozone economy gave,” said Chris Williamson, chief business economist at IHS Markit. see encouraging power ”.

The auto sector led the gains in European stocks, with shares in Daimler
TOUGH,
+ 0.03%

1.6% increase. German luxury car manufacturer increase profit target for the Mercedes-Benz and Mobility divisions for the year, after profit and sales rose in the first quarter.

Remy Cointreau
RCO,
-0.70%

report sales increased slightly In its full fiscal year, adjusted for the monetary influence, when cognac sales rose sharply raised fourth quarter sales. Shares of the French beverage group fell 0.4%. Shares of rival beverage maker Diageo
DGE,
-0.83%

down 1.6%.

The banking and pharmaceutical sectors are under pressure, with shares in AstraZeneca
AZN,
-0.75%

AZN,
-0.13%

reduced by more than 1%. Shares of major oil companies also influence the index, with shares in BP
BP,
-2.48%

BP,
-1.15%

and Royal Dutch Shell
RDS.A,
-2.25%

RDSA,
-0.70%

decreased by 1.8% and 0.6% respectively.

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