ROUNDUP / Aktien Europa Conclusion: Moderate profits – investors cautious

PARIS / LONDON (dpa-AFX) – Investors on the European stock exchanges were cautious on Thursday when the share price was already high. Corona numbers are currently skyrocketing in many regions. In addition, inflation concerns remain in the back of the mind. There was light and shadow with a view to the current quarterly reporting season of the companies.

A little tailwind came from China: The badly ailing Chinese real estate company Evergrande still paid interest on US dollar bonds shortly before the deadline expired. Investors fear a debt crisis that could spread to the world if Evergrande were to default.

The EuroStoxx 50 (EURO STOXX 50) closed with a plus of 0.21 percent to 4358.00 points. The French Cac 40 Index (CAC 40) rose 0.20 percent to 7059.55 points, and the British FTSE 100 gained 0.63 percent to 7385.7720 points .

Among the individual values, the focus was primarily on companies that published their annual reports. The shares of ArcelorMittal were in demand with a plus of a good four percent. Europe’s largest steel group more than made up for lower deliveries in the third quarter thanks to good profit margins. In addition, the share buybacks were increased by a billion dollars. The steel company had its best quarter since 2008, praised analyst Jack O’Brien of the US investment bank Goldman Sachs.

Among the insurers, the main focus was on the Italian Generali (Assicurazioni Generali) and the Swiss Zurich (Zurich Insurance). So far this year both have had to shoulder high losses from natural disasters. Generali put this away pretty well. Thanks to good business with life insurances and funds, the operating profit after the first nine months was a good ten percent higher than a year earlier. The share rose in Milan by 0.7 percent.

At Zurich, however, the destruction caused by Hurricane “Ida” in the USA was of particular importance. This is the first time that the Swiss have given an estimate of this catastrophe and may have alarmed some investors. The share lost 1.9 percent.

In London, Burberry gave way. The fact that the comparable sales of the British luxury fashion manufacturer fell short of market expectations was not well received. The shares of the department store chain B&M also suffered a high price loss according to statements on margin risks in the second half of the financial year.

Johnson Matthey even went down by almost a fifth. The manufacturer of catalytic converters was very cautious about the new year and also announced that it wanted to get out of the battery materials business./mis/he


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