European stocks dip while Rheinmetall AG and fossil fuel companies see gains By Investing.com

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European stocks dip while Rheinmetall AG and fossil fuel companies see gains

Published Oct 09, 2023 18:50

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European stocks dip while Rheinmetall AG and fossil fuel companies see gains

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European markets experienced a mixed day of trading on Monday, with key indices such as the Stoxx Europe 600, German DAX, and French CAC 40 closing lower, while the FTSE 100 remained unchanged. Among the Stoxx Europe 600 constituents, Idorsia Ltd, International Consolidated Airlines Group (LON:ICAG) S.A., THG PLC, Croda International PLC, and Wizz Air Holdings PLC witnessed significant losses.

In a contrasting trend, Rheinmetall AG emerged as a significant gainer with its shares climbing by 7.1%. Other companies that saw an upswing in their shares included fossil fuel firms ORLEN S.A., Aker BP (NYSE:BP) ASA, Equinor ASA (NYSE:EQNR), along with health care/life sciences company Orpea S.A.

Currency markets on Monday also demonstrated a decline in the pound and euro against the dollar at certain exchange rates. Meanwhile, Brent crude oil prices experienced an uptick, rising by 3.90%.

In bond markets, yields for both the 10-year gilt and German 10-year bund decreased. The drop in yields reflects a shift by investors towards safer assets amid the weakening of European stocks. This move typically suggests a bearish sentiment among investors about future economic growth and inflation expectations.

The mixed performance across different sectors indicates the complex interplay of factors influencing European markets currently. While some companies are experiencing losses, others are making gains, reflecting the diverse impacts of global economic trends on different industry sectors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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NSE 30	3,681.74	+0.59	+0.02%
NSE All Share	97,845.16	+16.14	+0.02%
US 30	44,581.0	+284.5	+0.64%
US 500	5,996.6	+27.3	+0.46%
FTSE 100	8,287.32	+25.24	+0.31%
DAX	19,415.05	+109.26	+0.57%
South Africa Top 40	77,350.75	+199.62	+0.26%

Brent Oil	74.11	-0.52	-0.70%
Crude Oil WTI	70.65	-0.59	-0.83%
Gold	2,700.00	-37.20	-1.36%
Silver	31.288	-0.488	-1.54%
Copper	4.1602	+0.0272	+0.66%
London Cocoa	7,643.00	-113.00	-1.46%
London Wheat	179.25	+0.20	+0.11%

Nigeria 10Y	21.264	0.00	0.00%
Nigeria 2Y	23.790	0.00	0.00%
U.K. 10Y	4.4160	+0.0290	+0.66%
Germany 10Y	2.2440	-0.0100	-0.44%
U.S. 10Y	4.343	-0.067	-1.52%
U.S. 5Y	4.259	-0.039	-0.90%
U.S. 2Y	4.356	-0.013	-0.30%

Fidelitybk	16.000	0.000	0.00%
Zenith Bank	44.10	-0.20	-0.45%
UBA	32.75	+0.40	+1.24%
FBN Holdings	26.35	+0.95	+3.74%
Guaranty Trust Holding	54.50	-0.10	-0.18%
Sterling Bank	4.900	+0.190	+4.03%
Dangote Cement	431.00	-47.80	-9.98%

European stocks dip while Rheinmetall AG and fossil fuel companies see gains

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