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FX.co ★ European equities closed lower

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Analysis News:::2021-12-14T06:49:23

European equities closed lower

European equities closed lower

Britain's FTSE 100 shed 0.8%, Germany's DAX shed 0.01%, France's CAC 40 shed 0.7%, Spain's IBEX 35 shed 0.5% and Italy's FTSE MIB shed 0.6%.

Air France-KLM shares lost 3.4%. The airline said it had paid the French authorities € 500 million in debt repayment totaling € 4 billion. In addition, Air France-KLM agreed with the country's authorities to change the debt repayment schedule: if earlier it had to pay off the debt in full in May 2023, now it will be able to pay it off until May 2025.

Germany's Daimler Truck Holding AG, a truck maker, rose 10.7% in its second trading session after divesting from Daimler. JPMorgan analysts have set the target price for the company's shares at 48 euros per share, while Bank of America has set a different price, 40 euros. At the same time, Daimler AG's value fell 0.3% yesterday.

The capitalization of the German software developer SAP AG increased by 2.6% after analysts at UBS improved the recommendation on the stock of the company from neutral to buy.

Australian biopharmaceutical company CSL has confirmed that it is in talks to buy the Swiss drug manufacturer Vifor Pharma. Vifor Pharma shares jumped 18.5%.

Credit Suisse Group AG on Monday announced a structural reorganization and appointed new chief executives for its core divisions. The structure of the bank from next year will consist of 4 main business divisions and 4 regional divisions. Credit Suisse lost 1.8%.

Shares in British mining company Rio Tinto fell 0.1%. The company will write off $ 2.3 billion in debt from the Mongolian government to finally move forward with the expansion of the Oyu Tolgoi gold-copper project.

The market is awaiting meetings of the world's largest central banks scheduled for this week.

The Federal Reserve System (FRS) is holding a two-day meeting on December 14-15, the European Central Bank (ECB) and the Bank of England will release their decisions on December 16, the Bank of Japan will hold a meeting on December 17.

The ECB is expected to discuss at the upcoming meeting the future prospects for its asset repurchase programs, while the Fed may decide to step up the pace of its quantitative easing (QE) program, which it launched in November.

The Bank of England is likely to keep monetary policy parameters unchanged, as the latest GDP data proved disappointing, and in addition, the country's authorities are introducing new restrictions to contain the spread of COVID-19.

The UK National Statistical Office (ONS) on Friday reported a slowdown in the country's GDP growth in October to 4.6% on an annualized basis from 5.3% a month earlier.

The statistics released on Monday showed an acceleration in the growth of wholesale prices in Germany in November to a record 16.6% in annual terms. As noted by the Federal Statistical Office of Germany (Destatis), the growth of wholesale prices accelerated compared to 15.2% in October against the background of higher prices for raw materials and intermediate goods.

Analyst InstaForex
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