European stock indices generally show moderate growth during trading on Tuesday, with the exception of the region’s composite index and the French indicator.
The Stoxx Europe 600 composite index of the region’s largest companies was down 0.04% at 11:06 a.m. to 466.50 points.
The British FTSE 100 index rose by 0.15% during the session, while the German DAX rose by 0.1%. Italy’s FTSE MIB and Spain’s IBEX 35 added 0.3% and 0.2%, respectively. Meanwhile, the French CAC 40 fell by 0.06%.
Market participants are waiting for revised data on the eurozone’s GDP for the first quarter, which will be released later on Tuesday. The currency bloc’s economy grew by 0.1% in January-March compared to the previous three months and by 1.3% in annual terms, preliminary data showed. Analysts surveyed by Trading Economics expect the initial estimate to be confirmed.
In addition, on Tuesday it became known that unemployment in the UK in March rose to 3.9% from 3.8% a month earlier, while analysts generally did not expect a change in the figure.
The average weekly salary in the country, including bonuses, increased by 5.8% in January-March compared to the same period a year earlier, to 642 pounds. Excluding bonuses, the figure rose by 6.7% to 598 pounds.
Inflation in Italy, according to the final data, was 8.7% in April against 8.1% in March. Preliminary data indicated an increase in consumer prices by 8.8%, and analysts did not expect a revision.
Shares of Imperial Brands Plc fell by 0.7%, although the British concern, which includes the tobacco company Imperial Tobacco, increased pre-tax profit and revenue in the first half of fiscal year 2023, as well as raised dividends.
The price of Vodafone Group Plc shares is down 3.1%. The British mobile operator more than tripled its pre-tax profit in FY2023 due to the sale of Vantage Towers, but its EBITDA decreased by 1.3%.
Vodafone’s management also announced that it plans to cut 11,000 jobs as part of a three-year plan.
The capitalization of the British online retailer Boohoo Group PLC increased by 12%. The company reported a pre-tax loss for the last fiscal year and an 11% decline in revenue, but gave strong forecasts for the current fiscal year.
The market value of Bouygues SA is down 2.3%. The French conglomerate increased its quarterly revenue by one and a half times, to €12.01 billion, but slightly increased its net loss to €134 million.
