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European Equities Close Mixed in Tuesday Trading; Euro Area, EU Retail Sales Drop in June
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European Equities Close Mixed in Tuesday Trading; Euro Area, EU Retail Sales Drop in June
Aug 6, 2024 9:34 AM

12:14 PM EDT, 08/06/2024 (MT Newswires) -- The European stock markets closed mixed in Tuesday trading as The Stoxx Europe 600 rose 0.21%, the Swiss Market Index declined 0.28%, France's CAC fell 0.27%, the FTSE in London was up 0.23%, and Germany's DAX closed 0.10% lower.

The seasonally adjusted retail sales volume decreased 0.3% in the euro area and 0.1% in the European Union in June from May, according to first estimates from Eurostat, the statistical office of the EU. Compared with June 2023, the calendar adjusted retail sales index decreased 0.3% in the euro area and increased 0.1% in the EU.

The seasonally adjusted HCOB Eurozone Construction PMI Total Activity Index, which tracks monthly changes in total industry activity, declined to 41.4 in July from 41.8 in June as the index continues its steep decline to start H2.

In the UK, the headline S&P Global UK Construction Purchasing Managers' Index rose to 55.3 in July from 52.2 in June, extending its streak of consecutive months of growth to five. The rate of expansion was also the index's fastest since May 2022.

In Germany, price-adjusted incoming orders in the manufacturing sector rose 3.9% in June from May, according to preliminary data from the German Federal Statistical Office.

In Switzerland, retail sector turnover adjusted for sales days and holidays fell 3.4% in nominal terms in June compared with the previous year, according to provisional data from the Swiss Federal Statistical Office.

And in corporate news, ArcelorMittal said Tuesday that it has completed its acquisition of approximately 65.2 million shares, or a 28.4% stake, in French manufacturer Vallourec from funds managed by Apollo Global Management for 955 million euros ($1.04 billion). Shares of the Luxembourg-based steelmaker closed 2.5% higher in Paris.

International Business Machines and software firm HashiCorp were each notified on Thursday by the UK's Competition and Markets Authority that it will review the companies' merger plans, HashiCorp said Tuesday in a regulatory filing.

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