Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary
       EU0009658145

EURO STOXX 50

SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

European stocks slip from recent highs, telecom deals in focus

09/07/2021 | 12:03pm EDT
German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks ended lower on Tuesday as caution kicked in ahead of a European Central Bank meeting later this week, while focus turned to a flurry of telecom deals led by Deutsche Telekom.

The pan-European STOXX 600 index slipped 0.5% after coming close to a record high in the previous session. Utilities, healthcare and chemical stocks were among the top decliners.

Spurring moves in telecoms, Deutsche Telekom struck a share-swap deal with SoftBank Group to increase its stake in U.S. unit T-Mobile. The stock fell slightly.

The company and Swedish telecoms operator Tele2 also agreed to sell their Dutch unit to private equity groups for an enterprise value of 5.1 billion euros ($6.05 billion).

Dutch peer KPN rose 4.1%, leading gains on the STOXX 600, while UK's BT fell 0.1% on news Deutsche Telekom is weighing options for its 12% stake in BT.

The wider telecoms index rose 0.1%.

Caution prevailed ahead of the ECB meeting on Thursday, with a recent surge in euro zone inflation and improving economic data driving bets of tighter monetary policy.

"It's believed that the ECB is discussing tapering their PEPP purchases. If it is, then investors will look for signs that they are going to compensate by making purchases through other schemes," said Andrea Cicione, head of strategy at TS Lombard.

"The reason they wouldn't want to get ahead of the Fed is because any hawkish remark by Lagarde or the ECB would cause even more strength in the euro, which would be negative for European growth."

The benchmark STOXX 600 has gained almost 19% so far this year, slightly lagging New York's S&P 500, as relatively high rates of vaccination brightened the recovery outlook, with many people returning to offices following sweeping restrictions last year.

Hopes of more economic stimulus for China and Japan, as well as growing views the U.S. Federal Reserve is likely to delay the start of tapering its asset purchases pushed world stocks to record highs earlier.

British engineering firm Meggitt fell 12.1%, and was the worst performer on the STOXX 600 after aerospace parts maker TransDigm bowed out of a $8.7 billion takeover battle for the firm.

The world's largest inter-dealer broker TP ICAP Group slumped 10.7% after reporting a lower half-year profit.

Upmarket fashion retailer Ted Baker climbed 0.2% as sales surged during the second quarter as customers returned to shops after months of coronavirus restrictions.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta, Louise Heavens and Richard Chang)

By Sruthi Shankar and Ambar Warrick


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COMPAGNIE FINANCIÈRE RICHEMONT SA 0.60% 109.65 Delayed Quote.36.11%
DEUTSCHE TELEKOM AG 0.83% 16.53 Delayed Quote.10.53%
EURO STOXX 50 0.13% 4172.17 Delayed Quote.17.29%
KERING -0.58% 646.6 Real-time Quote.8.78%
LVMH MOËT HENNESSY LOUIS VUITTON SE 1.56% 656.1 Real-time Quote.28.42%
MEGGITT PLC 0.21% 751.6 Delayed Quote.60.99%
ROYAL KPN N.V. 0.15% 2.714 Real-time Quote.9.13%
SOFTBANK GROUP CORP. 4.40% 6712 End-of-day quote.-16.70%
T-MOBILE US 2.85% 121.94 Delayed Quote.-9.57%
TED BAKER PLC -4.24% 133.2 Delayed Quote.14.73%
TELE2 AB 0.20% 123.95 Delayed Quote.13.90%
TP ICAP GROUP PLC 0.04% 164.28 Delayed Quote.-31.03%
All news about EURO STOXX 50
12:09pEUROPE : European stocks hit 6-week highs as Nestle shines in mixed bag of earnings
RE
10:34aEURO STOXX 50 Index Ends 0.13% Higher at 4172.17 -- Data Talk
DJ
07:34aSTOXX EUROPE 600 : European Bourses Inch Higher Midday on Earnings, Interest Rate Outlooks
MT
10/19EUROPE : European stocks rise as defensive buying helps offset losses on downbeat earnings
RE
10/19EURO STOXX 50 Index Ends 0.37% Higher at 4166.83 -- Data Talk
DJ
10/19MÜNCHENER RÜCKVERSICHERUNGS-GESELLSC : Despite high losses, Munich Re achieves a result of..
DJ
10/19STOXX EUROPE 600 : European Bourses Tracking Higher on Bank, Energy, Tech Issues
MT
10/18EURO STOXX 50 Index Ends 0.75% Lower at 4151.40 -- Data Talk
DJ
10/18Eurostoxx 50 : European stocks fall as luxury stocks feel pain from China's woes
RE
10/18STOXX EUROPE 600 : European Bourses Track Lower Midday on Oil Prices, China Economy Report
MT
More news
News of the index components EURO STOXX 50
05:59pBAYER : Mexico's agriculture minister say Mexico will not limit GMO corn imports from U.S.
RE
03:55pTech Stocks Struggle Wednesday as Broader Market Nears Record High
MT
01:04pDEUTSCHE BÖRSE AG : Barclays remains Neutral
MD
11:52aPERNOD RICARD : Availability of preparatory documents for the combined general meeting (or..
PU
11:50aSANOFI : says its flu vaccine can be co-administered with Moderna's COVID-19 shot
RE
11:47aDEUTSCHE BÖRSE AG : DZ Bank maintains a Buy rating
MD
11:47aINTESA SANPAOLO S P A : Fitch Affirms Intesa Sanpaolo At BBB- As Pandemic-Related Risk Fac..
MT
More news
Chart EURO STOXX 50
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Top / Flop EURO STOXX 50
PHILIPS NV 40.245 Real-time Quote.4.65%
PROSUS N.V. 78.88 Real-time Quote.3.52%
SANOFI 84.43 Real-time Quote.2.18%
ANHEUSER-BUSCH INBEV 48.715 Real-time Quote.2.10%
IBERDROLA, S.A. 9.834 Delayed Quote.1.95%
VOLKSWAGEN AG 186.82 Delayed Quote.-1.67%
SAFRAN 109.02 Real-time Quote.-1.78%
DEUTSCHE BÖRSE AG 146 Delayed Quote.-2.50%
ASML HOLDING N.V. 657.1 Real-time Quote.-3.79%
AMADEUS IT GROUP, S.A. 56.54 Delayed Quote.-5.48%
Heatmap :