top of page

Title: European shares tick higher on bank, auto boost

  • Writer: analysiswatch
    analysiswatch
  • Jun 1, 2022
  • 1 min read

Jun 01, 2022 03:45AM ET


By: AnalysisWatch


European stocks opened Wednesday with modest gains, driven by gains in banking and auto stocks, but sentiment remained under control as a slew of gloomy data sparked fears of a slowdown in growth.


The pan-European STOXX 600 index opened June on a positive note, rising 0.3% by 03:16 AM ET after closing 0.7% lower on Tuesday as record high inflation stoked fears of aggressive central bank measures. It lost 1.6% in May.


Deutsche Bank economists now expect the European Central Bank to raise interest rates by 50 basis points in September as rising prices depress economic growth.


Data showed German retail sales fell more than expected in April as consumers felt the pressure of higher prices, while another survey showed British companies expect almost no growth in the next three months.


Shares in carmakers rose nearly 1%, while the biggest boost to the STOXX 600 index came from banks, which rose 0.6%.


Among individual stocks, British footwear brand Dr. Martens rose 19.0% after forecasting higher annual sales growth thanks to price increases made in response to soaring inflation and stronger sales of its shoes and boots.


Deutsche Bank's asset manager, DWS, slumped 6.9% after its chief executive announced he would step down next week as the company faced accusations of misleading investors about "green" investments.

Commentaires


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page