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European markets declined

1 February 2021
2 min.
European markets declined

European markets trade

European stock indices ended Friday's trading lower amid lingering worries about coronavirus vaccines and volatility in US stocks.

The Stoxx Europe 600 composite index of the region's largest companies was down 1.87 per cent to 395.85 points by the close of trading.

The British FTSE 100 declined 1.82%, the German DAX dropped 1.71% to its lowest level since December 22 and the French CAC 40 was down 2.02%. Spanish IBEX 35 and Italian FTSE MIB lost 2.21% and 1.57% respectively, at that Spanish indicator fell to its lowest value since November 12.

Over the week, the Stoxx Europe 600 fell 3.1%, the FTSE 100 fell 4.3% to its lowest level since December 1, the DAX fell 3.2%, the IBEX 35 fell 3.5% and the FTSE MIB fell 2.3%.

Daimler AG (DE:DAIGn) shares gained 0.9 percent on Friday.

Commerzbank AG (DE:CBKG) lost 4.8%.

Ericsson AB shares gained 6.4 percent. The Swedish company, the world's largest maker of wireless networking equipment, posted a net profit in the fourth quarter that beat analysts' forecasts.

Siemens Gamesa Renewable Energy SA gained 0.5%. The wind turbine maker posted a profit in Q1 of the current fiscal and confirmed its full-year forecast.

CaixaBank SA shares gained 3.2%. The Spanish bank reported net profit growth in 4Q with the bank's board of directors proposing to pay a dividend to shareholders for 2020.

The capitalisation of German SAP SE fell by 3.2%. The world's largest enterprise management software maker reported a decline in net profit in Q4 2020.

The US Securities and Exchange Commission (SEC) is keeping an eye on the volatility of some companies stocks, the regulator said on Friday. The announcement came amid a recent jump in shares of companies such as GameStop Corp (NYSE:GME). and AMC Entertainment Holdings Inc. that professional investors have gambled on downside.

Meanwhile, European Union leaders are considering restricting exports to the UK of the coronavirus vaccine Pfizer (NYSE:PFE) ordered by it and produced in Belgium, European media reported, citing European Council chief Charles Michel.

This is due to a shortage of coronavirus vaccines as AstraZeneca (LON:AZN) cut deliveries of the drug to the EU by 67% in the first quarter of this year.

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