European Markets Rise on Earnings and Economic Data

Macro
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Summary · why it matters

European stock markets closed higher on Friday as mostly encouraging earnings updates and decent economic data helped offset concerns about Middle East tensions. The pan European Stoxx 600 climbed 0.31%, Germany's DAX moved up 0.69%, France's CAC 40 gained 0.17%, and the UK's FTSE 100 ended 0.31% up. Weak U.S. jobs data showing a drop of 23,000 jobs in July against expectations of a 70,000 gain raised hopes the Federal Reserve will not hike interest rates soon. In corporate news, SAP, Scout24, Infineon, Siemens and BMW gained 2% to 4% in Germany, while Daimler Truck Holding shed nearly 3% despite reporting a bottom line of EUR1.457 billion, up from EUR277 million a year earlier. Allianz closed lower by about 1.6% after second-quarter earnings fell to EUR2.595 billion from EUR2.841 billion, and Munich RE dropped 1.4% even as net profit rose to €2.211 billion from €2.085 billion.

Impact on stocks 10

Electrification & Mobility± Mixed · 2 stocks
Financials▼ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
SAP SE
SAP
▲ PositiveDemandrelevance

SAP gained 2% to 4% in Germany, likely on positive earnings or outlook.

Robotics & Physical AI▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Real Estate▲ · 1 stocks
Scout24 AG
G24
▲ PositiveDemandrelevance

Gained 2% to 4% in Germany, likely on positive sector sentiment.

Climate Adaptation & Water▲ · 1 stocks
Münchener Rück AG
MUV2
▲ PositiveCapitalrelevance

Net profit rose to €2.211 billion from €2.085 billion, but shares fell 1.4%.

Health Care▲ · 1 stocks
Others▼ · 1 stocks
Allianz SE
ALV
▼ NegativeCapitalrelevance

Second-quarter earnings fell to EUR2.595 billion from EUR2.841 billion, shares down 1.6%.

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