European Stock Markets Close Mixed

July 30, 2018
European Stock Markets Close Mixed

By Investors Hub

European stocks as turning in a mixed performance on Monday, as weak metal prices on concerns over slowing growth in China pull down miners but investors adopt a cautious stance ahead of key central bank meetings in the U.S., Japan and the U.K. this week.

While the U.K.?s FTSE 100 Index has inched up by 0.1 percent, the French CAC 40 Index and the German DAX Index are both down by 0.1 percent.

The Bank of Japan began its two-day policy meeting today, with analysts expecting the central bank to discuss reducing investments in ETFs tracking the Nikkei 225 Index.

The Federal Open Market Committee is widely expected to leave interest rates unchanged when it meets on Tuesday and Wednesday.

The Bank of England is set to increase U.K. interest rates by 25 basis points on Thursday, but cautious comments from Governor Mark Carney may hurt the pound.

In economic news, a gauge of Eurozone economic sentiment fell slightly in July due to increased trade tensions between the U.S. and the European Union.

Heineken NV shares have tumbled after the brewer cuts its full-year margin guidance amid an expansion into Brazil.

France’s Air Liquide has also shown a notable move to the downside after its first-half operating income disappointed investors.

Meanwhile, betting group GVC Holdings has jumped after it entered into a joint venture with U.S. hotel and casino operator MGM Resorts to set up a sports and online gaming platform in the U.S.

German industrial machinery group GEA has also moved sharply higher after its second quarter earnings topped forecasts.

Deutsche Bank has also moved to the upside on news it is moving a large part of its euro clearing facility from London to Frankfurt.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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