The main indices of the major stock exchanges in Europe ended the week showing mixed trend amid expectations that central banks of the leading world economies will tighten lending and pending the decisions of the leaders of the G20, who have gathered at a meeting in Hamburg.
On Friday, the French index CAC 40 fell by 0.14 percent to 5145.16 points. The German Dax added 0.06 per cent compared to the closing yesterday and today at the end of the session was at 12 388.68 points. Britain ‘s FTSE 100 rose 0.19 percent to 7350.92 points.
The pan-European index Stoxx 600 fell 0.07 percent, with most sectors ended up in negative territory. For the week Stoxx 600 and the major exchanges barely register changes, says CNBC.
On Friday, the biggest losers were the shares of media companies after several downgrades in the sector. BNP Paribas downgraded WPP, then the price of its shares fell more than 2 percent. France-based banking group also lowered the rating of Italy’s Mediaset, whose shares fell more than 3 percent on Friday.
Oil and gas sector was also in retreat on Friday after new data revealed an increase in yield in the US. The price of oil fell sharply, with US light crude oil WTI depreciated by more than 1% to 44.35 dollars a barrel, while Brent erase 1.2 percent of the value to 46.84 dollars per barrel.
“European investors remain nervous about the shifting ECB policy stance, even with a rate hike still looking a very distant prospect given subdued core inflation,” said Ian Williams, economist and strategist at Peel Hunt, in a Friday note.
In corporate news, the French firm Carrefour posted better than expected results for the second quarter of the year on Thursday and maintained its 2017 sales growth outlook. However, investors showed concerns over the company’s plans about profit margins. The stock went down by 5 percent.
Engine manufacturer Deutz saw a decrease of 12 percent after the Swedish firm Volvo declared plans to sell 1/4th of its ownership in the German engine maker.
Centrica continued its rally as it turned out to be an attractive pick since it reported at the end of June that it will sell two large gas power plants in a cash deal valued at £318 million ($412 million).