European equities ended today’s session in the red territory amid the losses in Media Sector. However, UK’s equities ended the session in the green.
Media sector was the worst performer in the region where it dropped by more than 2.7% on the back of earning news. Moreover, due to the weak trading in the United States, The world’s largest advertising group WTI cut its annual sales forecast as the demand from consumer goods client has been dropped, where the weak trading in U.S led the company to miss its first half target. Today the stock declined by 11%, reached its lowest level since 19 years.
Moreover, the travel and leisure sector fell by 1.5% during today’s trading session. Ryanair and Easyjet were the biggest losers in the sector as their stocks fell by 2.2% and 1.7% respectively.
Meanwhile, investors are keeping an eye on the Kansas City Federal Reserve Bank’s central bank symposium in Jackson Hole which would start on Thursday and runs through Saturday.
In economic news, Euro’s manufacturing PMI rose by 0.9 at 57.4 in August, compared with the expectations for 56.4, while for services, PMI for August month came in line with expectations, where it increased at 54.9, higher than the previous month by 0.5.
UK’s equities ended today’s session positive territory, where FTSE100 edged by 0.01% at 7,382.65 as it supported by the gains in Basic Materials, HealthCare and Energy sectors.
The session’s losers outnumbered the gainers by 60 to 40, while one share remained flat.
The best performers of the session on the FTSE 100 were, Provident Financial PLC rose by 12.13%, Antofagasta PLC gained 2.31%, and Rio Tinto PLC added 2.13%.
Meanwhile, the worst performers of the session on the FTSE 100 were, WPP PLC that plunged by 10.92%, Paddy Power Betfair PLC lost 2.71% and ITV PLC tumbled by 1.81.
Equities in the German benchmark ended the session lower pressured by the losses in Telecommunication services, Industrials and Consumer Cyclicals sectors, DAX 30 fell by 0.45% to end lower at 12,174.30.
Declining stocks outnumbered advancing on DAX30 by 24 to 6 and 0 ended unchanged.
The best performers of the session on the DAX 30 were, Deutsche Bank AG added 0.44%, Fresenius SE & Co KGaA gained 0.34%, and BASF SE rose by 0.18%.
Meanwhile, the worst performers of the session on the DAX 30 were, Prosiebensat 1 Media SE shed 3.74%, Thyssenkrupp AG lost 1.16%, and Heidelbergcement AG declined by 0.99%.
CAC 40 ended the session in the red to settle down at 5,115.39 dropped by 0.32%, pressured by the losses in the Financials, Technology, and Consumer Cyclicals Sectors.
At the session's end, there were 30 losers and 10 gainers, and zero flat shares on the CAC 40.
The best performers of the session on the CAC 40 were, Engie SA gained 0.88%, L'Oreal SA added 0.62%, and TechnipFMC PLC was up by 0.60.
Meanwhile, the worst performers of the session on the CAC 40 were, Publicis Groupe SA dropped by 3.15%, BNP Paribas SA fell by 1.46%, and Capgemini SE declined by 1.17%.
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