{"id":118488,"date":"2021-07-20T16:51:09","date_gmt":"2021-07-20T16:51:09","guid":{"rendered":"https:\/\/fin2me.com\/?p=118488"},"modified":"2021-07-20T16:51:09","modified_gmt":"2021-07-20T16:51:09","slug":"european-stocks-claw-back-some-losses-helped-by-miners-ubs","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/european-stocks-claw-back-some-losses-helped-by-miners-ubs\/","title":{"rendered":"European stocks claw back some losses, helped by miners, UBS"},"content":{"rendered":"

(Reuters) – European stocks stabilised on Tuesday after their worst sell-off this year in the previous session, helped by a handful of positive corporate earnings and production updates from miners.<\/p>

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 19, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 index rose 0.5%, after worries about the fast-spreading coronavirus Delta variant and slowing economic growth had knocked 2.3% off the index on Monday.<\/p>\n

Miners, among sectors that bore the brunt of Monday\u2019s bruising selloff, rose 1.2% after BHP Group and Anglo American provided upbeat production numbers.<\/p>\n

Swiss bank UBS climbed 4.0% after it posted a 63% jump in second-quarter net profit, helped by a booming wealth management business. Peers Credit Suisse and Julius Baer also rose.<\/p>\n

\u201cAlthough the U.S. economy is in a slowdown phase and we expect European growth to peak this summer, we continue to favour risk assets over a 12-month horizon,\u201d analysts at BCA Research wrote in a note.<\/p>\n

\u201cThe UK is a case in point \u2014 broad-based vaccinations are keeping hospitalisation rates there low despite the sharp jump in COVID-19 infections. Thus, the market impact of the Delta variant may ultimately prove fleeting in developed economies.\u201d<\/p>\n

British airline easyJet gained 1.9% after saying it plans to fly 60% of its pre-pandemic capacity in the July-September period.<\/p>\n

Europe\u2019s travel & leisure index has fallen sharply from its April record highs, with travel-related stocks getting hit by soaring infections across the continent and last-minute changes to travel rules.<\/p>\n

The U.S. government on Monday issued the highest warning against travel to Britain.<\/p>\n

Graphic: Europe’s travel % leisure index drops 17% since April peak –<\/p>\n

Among other stocks, Norwegian telecoms operator Telenor rose 2.3% after it raised its full-year revenue outlook.<\/p>\n

French spirits group Remy Cointreau inched down 2.2% even as its first-quarter organic sales more than doubled after bars and restaurants reopened in Europe.<\/p>\n

Analysts expect profit at STOX 600 companies to jump 108.6% in the second quarter versus a year ago, according to Refinitiv IBES estimates, as COVID-19 restrictions eased across Europe.<\/p>\n

Sweden\u2019s AB Volvo fell 3.5% as it warned of further production disruptions and stoppages this year due to chip shortages.<\/p>\n

Home appliances maker Electrolux tumbled 9.4% after it reported a lower-than-expected second-quarter operating profit and warned global supply chain woes would worsen in coming months.<\/p>\n

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

(Reuters) – European stocks stabilised on Tuesday after their worst sell-off this year in the previous session, helped by a handful of positive corporate earnings […]<\/p>\n","protected":false},"author":3,"featured_media":118487,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nEuropean stocks claw back some losses, helped by miners, UBS - 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-stocks-claw-back-some-losses-helped-by-miners-ubs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European stocks claw back some losses, helped by miners, UBS - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – European stocks stabilised on Tuesday after their worst sell-off this year in the previous session, helped by a handful of positive corporate earnings [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/european-stocks-claw-back-some-losses-helped-by-miners-ubs\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-20T16:51:09+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-stocks-claw-back-some-losses-helped-by-miners-UBS.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-stocks-claw-back-some-losses-helped-by-miners-ubs\/\",\"url\":\"https:\/\/fin2me.com\/markets\/european-stocks-claw-back-some-losses-helped-by-miners-ubs\/\",\"name\":\"European stocks claw back some losses, helped by miners, UBS - 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