ECB economists contend European stock struggles for direction, cautiously warning

People wearing protective masks maintain social distance to perform a PCR test for Kovid-19 in front of the City Hall of Paris on August 31, 2020.

alain jocard / agence france-presse / getty images

European shares traded mixed on Friday as investors looked for direction, warned of a tense Brexit stalemate and the European Central Bank to be very cautious about the recovery in the eurozone.

On the other hand, US Equity Futures signaled a surge for Wall Street, especially for technology stocks, which have taken a massive hit this week, raising fears in the sector very quickly.

Stoxx Europe 600 Index SXXP,
Was flat, German DAX DAX,
0.1% dipped and French CAC 40 PX1,
0.1% relaxed. FTSE 100 Index UKX,
+ 0.32%
Was also flat.

But the Dow YM00,
+ 0.70%
Rose 0.65 and S&P 500 ES 500,
+ 0.94%
Futures 0.8%, while Nasdaq-100 futures NQ00,
+ 1.29%
Received more than 1%.

The data shows that UK GDP climbed 6.6% in July, recovering more than half of its lost production due to the epidemic.

The week has been a dramatic one in the UK, due to a deadlock with Brussels after the government said it would amend the terms of the withdrawal agreement. The EU is seeking Britain to end those plans by the end of the month or to risk trade negotiations. Pounds GBPUSD,
This week has fallen by over 3%.

Data from outside Germany showed a 0.1% drop in consumer prices in line with forecasts. Meanwhile, the European Central Bank’s chief economist, Philippe Lane, warned in a blog post on Friday that there was “no place for complacency” on the eurozone economy.

The day came after the European Central Bank kept monetary policy unchanged and this year its estimate for the eurozone economy was lifted.

Amid this move, shares of Altis Europe NV ATC,
+ 24.27%
The founder and largest shareholder of French Multinational Telecommunication Corporation, Patrick Drowhi, bought 26% shares after taking the company privately, he does not own € 4.11 per share to buy the shares.

Sodexo SA shares fell 1.2% after French food-services and facilities said the company said its fourth-quarter performance was in line with forecasts, and that it incurred epidemic-related costs of more than 400 million euros ($ 472.6 million) in the second. Can withstand. Half.


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