European equities struggled on Wednesday, with up-to-date data showing that Eurozone business activity is growing at the fastest pace in 15 years, and US equities futures rose. Pernod Ricard’s share price rose after a bright forecast.
Stocks Europe 600 Index
Germany’s DAX fell 0.2%
And CAC 40 in France
Each index fell 0.4%. FTSE 100
It was flat.
U.S. stock futures
I got 69 points, or 0.2%. S & P 500
Nasdaq Composite Index rose 0.5%
We advanced 0.8% and set a new record.
The market was endorsed by Federal Reserve Board Chair Jerome Powell. Jerome Powell reiterated in his testimony to Congress that higher inflation would be temporary. It followed Monday’s comment from Federal Reserve Bank of New York Governor John Williams, saying the unemployment rate remains high. Interest rates remain low for now..
Stocks fell last week after the Federal Reserve Board seemed to advance the timeline for raising expected interest rates by 2023.
Wednesday’s data caught the eye, with the June IHS Markit Flash Eurozone Composite Purchasing Manager Index rising from 57.1 in May to 59.2, the highest in 180 months. That’s because the European economy continued to resume and the COVID-19 vaccine was rolled out across the continent.
“The eurozone economy has been booming at an unseen pace for 15 years as companies report surges in demand, and the turnaround is becoming more widespread, from manufacturing to more service sectors, especially.
“Consumer companies,” said Chris Williamson, chief business economist at IHS.
Markit, comments that accompany the data.
Among the shares on the move, Pernod Ricard’s shares
Up 2.7% after the French beverage group Increased guidance for 2021, Quote a stronger recovery than expected. Pernod is currently forecasting organic growth in 2021 recurring business profits of approximately 16% from the previous 10% guidance.
The telecommunications giant has the entire European business Fully powered by electricity from renewable energy sources We are aiming to reach net zero carbon emissions by 2030, so we will start on July 1.
On the downside, the shares of the French luxury group LVMH Moet Hennessir Iviton
It fell 1.3%.Pharmaceutical giant GlaxoSmithKline
These shares fell 1.5% and were another loser.
European equities are declining as PMI shows a surge in business activity.US futures remain strong after Powell
http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-74CC-0CE860834055%7D&siteid=rss&rss=1 European equities are declining as PMI shows a surge in business activity.US futures remain strong after Powell