{"id":118109,"date":"2021-07-13T10:02:44","date_gmt":"2021-07-13T10:02:44","guid":{"rendered":"https:\/\/fin2me.com\/?p=118109"},"modified":"2021-07-13T10:02:44","modified_gmt":"2021-07-13T10:02:44","slug":"european-shares-ease-from-peak-banks-miners-boost-uk-stocks","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/european-shares-ease-from-peak-banks-miners-boost-uk-stocks\/","title":{"rendered":"European shares ease from peak; banks, miners boost UK stocks"},"content":{"rendered":"

(Reuters) – European stocks eased from all-time highs on Tuesday ahead of a key U.S. inflation reading, but British banks kept UK\u2019s FTSE 100 afloat after a central bank move to scrap curbs on dividends.<\/p>

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 12, 2021. REUTERS\/StafF<\/figcaption>

The pan-European STOXX 600 index slipped 0.1% after hitting a record high in early trading.<\/p>\n

Barclays, HSBC, and Lloyds Banking Group rose between 1.1% and 1.8% after the Bank of England scrapped pandemic-era restrictions on dividends from top lenders.<\/p>\n

UK\u2019s FTSE 100 rose 0.3%, while other main regional indexes fell.<\/p>\n

Investors are awaiting U.S. consumer price data for June \u2014 set to be released later in the day \u2014 to see if the recent rise in prices is persistent and strong enough to spur a faster-than-expected policy tightening by the Federal Reserve.<\/p>\n

\u201cWe are less interested in when the peak is and much more interested in how enduring price pressures are likely to be,\u201d RBC Capital Markets analysts wrote in a note.<\/p>\n

\u201cWe have no doubt that this \u2018peak\u2019 narrative is likely to be all the talk on Tuesday, but that misses a much bigger point: sticky prices are likely to linger for quite some time.\u201d<\/p>\n

European Central Bank President Christine Lagarde said on Tuesday it has pledged to be \u201cpersistent\u201d and will not repeat its past mistake of tightening policy too early.<\/p>\n

Among individual stocks, Finnish telecom equipment maker Nokia jumped 6.6% after it said it planned to raise its full-year outlook.<\/p>\n

Swiss watchmaker Swatch Group rose 2.0% as it returned to profit in the first six months of 2021 and its sales jumped more than 50%. Rival Richemont climbed 0.4%.<\/p>\n

Meanwhile, major U.S. banks, including JPMorgan and Goldman Sachs, will report earnings later in the day. European reporting season will kick into high gear later this month, with analysts expecting second-quarter profit for STOXX 600 companies to more than double from a year ago, as per Refinitiv IBES data.<\/p>\n

Graphic: STOXX 600 YoY Earnings Growth Rates –<\/p>\n

Norwegian chipmaker Nordic Semiconductor surged 6.2% as its quarterly profit doubled.<\/p>\n

Miners like Rio Tinto, Anglo American and BHP Group got a boost from rising metal prices after better-than-expected trade data from top consumer China.<\/p>\n

Healthcare stocks fell 0.7% after a near 1% surge in the previous session. Frankfurt-listed shares of genetic testing company Qiagen NV dropped 3.0% after it lowered its outlook on weaker demand for COVID-19 tests.<\/p>\n

German drug packager Gerresheimer declined 7.0% after its quarterly earnings report disappointed investors.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – European stocks eased from all-time highs on Tuesday ahead of a key U.S. inflation reading, but British banks kept UK\u2019s FTSE 100 afloat […]<\/p>\n","protected":false},"author":3,"featured_media":118108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nEuropean shares ease from peak; banks, miners boost UK stocks - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/european-shares-ease-from-peak-banks-miners-boost-uk-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European shares ease from peak; banks, miners boost UK stocks - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – European stocks eased from all-time highs on Tuesday ahead of a key U.S. inflation reading, but British banks kept UK\u2019s FTSE 100 afloat [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/european-shares-ease-from-peak-banks-miners-boost-uk-stocks\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-13T10:02:44+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/European-shares-ease-from-peak-banks-miners-boost-UK-stocks.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/european-shares-ease-from-peak-banks-miners-boost-uk-stocks\/\",\"url\":\"https:\/\/fin2me.com\/markets\/european-shares-ease-from-peak-banks-miners-boost-uk-stocks\/\",\"name\":\"European shares ease from peak; 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