European trading is mixed. Maersk slipped 4%
Europe continues to trade mixed, as investors digest a flurry of economic data with the potential to provide insights into the possibility of a recession in the Eurozone.
The European index par excellence, the Stoxx 600, continues to trade on the waterline (-0.06%) to 432.94 points, after starting the session with a decline of about 0.10%.
Among the 20 sectors that make up the index, food and beverages suffer losses, while energy is rising, following the rise in oil prices.
Among the major market moves, AP Moller Maersk stock fell 4.16% after Citigroup lowered its “sell” recommendation.
In the remaining European markets, Madrid fell 0.21%, London fell 0.30% and Lisbon lost 0.23%. Frankfurt advances 0.34 and Paris gains 0.28%. Amsterdam grew by 0.14% and Milan by 0.80%.
The S&P Global Purchasing Managers’ Index for France fell to 49.8 points in August, below estimates of 51 points. In addition, investors remain alert to rising gas prices, at a time when many European leaders have warned of a difficult winter.
During this week, market attention continues to turn to the release of reports from the last ECB meeting in July on Thursday, the day the Federal Reserve’s annual Jackson Hole symposium also kicks off.
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