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22.01.202113:01 Forex Analysis & Reviews: European stocks decline in anticipation of PMI data

Exchange Rates 22.01.2021 analysis

The pan-European STOXX 600 index by 11:27 GMT +2 fell 0.84%, the German DAX index - 0.76%, the French CAC index dropped 0.92%.

Shares of Lufthansa and Air France are down 1.9% and 4.4%, respectively. Tour operator TUI shares fall by 10%. The reason for this was that the European Union proposed to designate the regions where the outbreak of coronavirus is observed as dark red zones. Those people who want to leave such areas will have to pass a COVID-19 test in advance and leave the quarantine.

The British FTSE 100 Index fell 0.6% as retail sales rebound in the country in December was weaker than forecasted, and the volume of government debt jumped to its highest since 1962.

Purchasing Managers' Indexes (PMI) for the Eurozone and the UK are due Friday. These indices are calculated by IHS Markit.

German engineering firm Siemens AG is up 5.1%. The reason for this was the financial statements for the first financial quarter, which turned out to be higher than forecasted.

Thomas Frank,
Chuyên gia phân tích
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