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17.09.202108:17 Forex Analysis & Reviews: European stock markets closed on the rise

Exchange Rates 17.09.2021 analysis

Britain's FTSE 100 and Germany's DAX rose 0.2%, while France's CAC 40 climbed 0.6%. Spain's IBEX 35 and Italy's FTSE MIB added 1.1% and 0.8%, respectively.

The growth leaders among the Stoxx 600 components were shares of the Irish airline Ryanair Holdings PLC, whose value increased by 8% after the company improved its forecast for annual passenger traffic by 2026 to 225 million from the previously announced 200 million. other European airlines: easyJet - up 7.2% and Wizz Air Holdings up 5%.

The value of British apparel manufacturer Superdry PLC increased 14%, despite Superdry's revenue declining 21.1% in fiscal 2021 to £ 556.1 million ($ 768.9 million). Nevertheless, the company managed to reduce its loss before taxes to 36.7 million pounds from 166.9 million pounds.

Car sales in the European Union fell 23.2% year-on-year in July 2021 and 19.1% in August, according to data from the European Association of Automobile Manufacturers (ACEA).

Shares of leading European automakers fell by the end of trading: Daimler AG dropped 0.5%, Renault S.A. fell 1.7% and Bayerische Motoren Werke AG (BMW) fell 1.2%.

The cost of the Volkswagen carmaker fell 1.5% on news of the suspension of work for a week at two enterprises of the Czech automaker Skoda in the country due to a shortage of chips.

The leaders of the fall were the shares of the German manufacturer of automotive components Continental AG (-16%), from which the division for the development of solutions for the electric drive Vitesco Technologies spun off into a separate company.

In addition, on European markets, by the end of trading, shares of mining companies fell on the background of falling prices for metals: shares of Anglo American lost 5%, Rio Tinto fell 4% and BHP Group fell 3.4%.

The cost of the Danish transport and logistics company A.P. Moeller-Maersk A / S declined 0.4%, despite the company improving its forecasts for the third quarter and 2021 as a whole, as supply chain disruptions contributed to higher freight costs.

Thomas Frank,
Analytical expert of InstaForex
© 2007-2021
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