We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Europe midday: Eurozone PMI data drags Stoxx lower

Fri 21 June 2024 10:58 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Market latest

FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

8155.72 | Negative 49.17 (0.60%)

Prices delayed by at least 15 minutes

(Sharecast News) - European stocks extended losses in the morning on Friday as survey data showed the eurozone's nascent economic recovery unexpectedly slowed in June, weighed down by weakness in the manufacturing sector.

The Stoxx 600 index was down 0.75% in early deals at 515.02.

In economic news, British retail sales volumes rose 2.9% in May, a big gain from the 1.8% fall in April when heavy rain affected shopping footfall.

Meanwhile, public debt rose last month to its highest as a share of the economy since 1961, meaning while voters could see a change of government after the July 4 election, they will still feel the same financial pain in their hip pocket.

Public sector net debt, excluding state-controlled banks, rose to 2.742trln or 99.8% of gross domestic product last month, up from 96.1% a year earlier, the Office for National Statistics said.

Government borrowing came in at 15bn, just below economists median forecast of 15.7bn.

In equity news, Zealand Pharma roared ahead by 25% as an early-stage study showed the Danish company's weight-loss drug helped reduce weight by an average 8.6% after 16 weekly doses.

Shares in British soft drinks maker Britvic surged almost 14% as the company rejected a revised, unsolicited, possible cash offer from Carlsberg Group, saying it "significantly undervalued" the group and its prospects. Carlsberg shares were down on the news.

Reporting by Frank Prenesti for Sharecast.com

    Daily market update emails

    • FTSE 100 riser and faller updates
    • Breaking market news, plus the latest share research, tips and broker comments

    Register now for free market updates

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.