Europe stocks lower as economic gloom returns; euro zone business output contracts
Publishing timestamp: 2023-07-05 10:05:41
Summary
European stocks were lower due to negative signals from Chinese and EU economies. The Stoxx 600 index was down 0.8%, with insurance and oil and gas stocks experiencing declines. China's service sector activity slowed in June, while the euro zone showed contraction in business output. Oil prices retreated over demand concerns, and the Federal Reserve will release minutes from its latest meeting. Adyen and Ams-Osram saw declines in their stock prices, while Evotec climbed after securing a contract. German automotive manufacturers' future business sentiment fell sharply. European stocks are expected to fall at Tuesday's open. The music industry is set for a radical shift due to generative AI, according to Goldman Sachs. China's service sector activity remained positive, but at a slower rate of expansion. Goldman Sachs is positive on certain Asian markets, and the US economy has shifted to a "rolling recovery" according to market veteran Ed Yardeni.
Sentiment: MIXED
Tickers: EVT-DE, .GDAXI, @LCO.1, FABG-SE, AMS-AT, BALD.B-SE, AZN-GB, GS, .FTMIB, DQW1-FF, WIHL-SE, VNA-DE, EVT-FF, .FCHI, ADYEN-NL, CAST-SE, .STOXX, .FTSE, 0GT1-GB,
Keywords: ice brent crude (apr'23), castellum ab, ftse 100, stock markets, fastighets ab balder, markets, wihlborgs fastigheter ab, ams osram ag, cac 40 index, breaking news: markets, stoxx 600, evotec se, dax, united states, business news, vonovia se, fabege ab, astrazeneca plc, ftse mib, prices,
Source: https://www.cnbc.com/2023/07/05/european-markets-open-to-close-stoxx-ftse-dax-cac.html