(CercleFinance.com) – The main European stock markets lost more or less ground on Tuesday (-0.1% in London, -0.6% in Frankfurt, -0.7% in Paris), against a backdrop of negative signals concerning manufacturing activity in the region.
At 42.7 against 43.4 in June, the HCOB PMI index for manufacturing industry in the euro zone fell for a sixth consecutive month in July, signaling the sharpest deterioration in the industrial situation in the area since May 2020.
“Given the latest HCOB PMI data, it appears that the manufacturing sector in the euro zone is on the way to a prolonged recession,” warns Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
Similarly, manufacturing activity in the UK manufacturing sector hit a more than three-year low in July, as a PMI index fell to 45.3, due in particular to a contraction in new orders from the UK. foreign.
On the front of the values, HSBC takes more than 2% in London, the bank having reported a second quarter result above expectations, helped by the rise in interest rates and strict control of its costs.
BMW, on the other hand, lost more than 4% in Frankfurt, despite an increase by the car manufacturer in its annual objectives, the group having warned of a rise in costs from its suppliers.
Among the other publications of the day, the operators reacted positively to those of the energy group bp and the giant of spirits Diageo (+1% each) in London, but heavily sanctioned that of the logistics provider DHL Group (-4%) in Frankfurt.
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