Stock indices of Western Europe mainly fell on the basis of trading on Friday.
The composite index of the largest enterprises in the region Stoxx Europe 600 fell by 0.1% and amounted to 355.51 points. By the end of the week, the indicator lost 3.7%, which was the maximum weekly drop since mid-June, CNBC notes.
Germany's DAX dropped 1.09%, France's CAC 40 fell 0.69%, Italy's FTSE MIB fell 1.1%, and Spain's IBEX 35 fell 0.23%. At the same time, the British FTSE 100 indicator rose 0.34%.
Market participants are wary of continuing to monitor the spread of the coronavirus.
Investors are also assessing the prospects for additional measures to stimulate the US economy in the face of the pandemic. Against the backdrop of the increased threat of a slowdown in economic recovery and the lack of new economic stimulus, analysts at Goldman Sachs Group Inc (NYSE: GS). and JPMorgan Chase & Co. lowered forecasts for US GDP growth in the fourth quarter.
Fed Chairman Jerome Powell reaffirmed his view at a regular Congressional committee hearing on Wednesday that the increase in budget spending will allow the Fed to achieve faster targets in terms of employment and stable inflation.
Consumer confidence in the UK rose 2 points in September from the previous month, to minus 25 points, according to data from GfK NOP Ltd., which calculates this indicator.
The index increased despite the renewed increase in the incidence of COVID-19, but it is still well below pre-crisis levels. At the end of May, the index dropped to its lowest level in 11 years – minus 36 points, although at the beginning of March it was at minus 9 points.
Bayerische Motoren Werke AG (BMW) was down 2.6% on Friday. The German automaker has agreed to pay $ 18 million to settle claims by the US Securities and Exchange Commission (SEC) regarding the company and its two US subsidiaries providing false and misleading information about vehicle sales.
Aviva Plc (LON: AV), a British insurance company, gained 0.3%. Reuters reported on Thursday that a consortium of Germany's Allianz (DE: ALVG) SE and insurer Athora Holding is in an advanced stage of negotiations to acquire the French division of Aviva.
Electrolux rose 2.9% after the board of directors of the Swedish home appliance maker recommended the renewal of dividend payments due to improved financial results in the third quarter. The company in March withdrew its recommendation to pay dividends for 2019 at 8.5 Swedish kronor ($ 0.93) per share. Electrolux now plans to pay out dividends for the past year in the amount of 7 CZK per share.