European Equities Close Mixed in Wednesday Trading; EU GDP Growth Slows
The European stock markets closed mixed in Wednesday trading as The Stoxx Europe 600 edged 0.01% lower, Germany's DAX rose 0.23%, the FTSE 100 was off 0.07%, France's CAC gained 0.13%, and the Swiss Market Index declined 0.23%.
Seasonally-adjusted Q2 GDP increased 0.1% in the euro area and 0.2% in the EU compared with the previous quarter, according to preliminary estimates from Eurostat, the statistical office of the EU.
Compared with the year-earlier quarter, seasonally-adjusted GDP grew 1.4% in the euro area and 1.5% in the EU.
In Germany, GDP contracted 0.1% in Q2 compared with Q1, adjusted for price, seasonal, and calendar effects, according to preliminary data from the Federal Statistical Office. The GDP was unchanged from Q2 2024.
In France, GDP grew 0.3% in Q2 from 0.1% in Q1, according to the Institute of Statistics and Economic Studies.
In Spain, annual inflation in July was 2.7%, compared with 2.3% in June, according to the Spanish Statistical Institute. The rise in inflation was attributed to higher electricity and fuel prices.
And in corporate news, UBS reported Q2 earnings Wednesday of $0.72 per diluted share, up from $0.34 a year earlier. Analysts polled by FactSet expected $0.68.
Source : MT Newswires
