European stock markets opened with small changes on average at the index level, but the differences by industry have been significant. Investors are waiting for the ECB interest rate decisions and the CEO to be announced in the afternoon Christine Lagarden comments.
The broad Stoxx 600 index was up 0.15 percent after 25 minutes of trading. At the level of industry indices, the biggest increase of 0.7 percent is for banks. Nordea announced a better-than-expected result and the share price was up 5.3 percent. By industry, industrial shares and tourism shares are showing a strong rise.
Grocery company Nestlé the share price was down 2.5 percent. The company lowered its outlook for this year for the second time during the year.
The prices of stocks in the basic materials industry were on average 0.85 percent lower. Paper and packaging company Mondin the share price was down more than eight percent. The company’s EBITDA was in a clear decline.
About mining companies Rio Tinton the share price was down two percent. Shares of mining companies are weighed down by the drop in the price of iron ore. Doubts about China’s ability to revive the real estate market are growing in the market.
Investors expect the European Central Bank to cut key interest rates by 0.25 percentage points today. The subject of excitement is the future interest rate path, and the comments of CEO Christine Lagarde in connection with it.
Source: www.arvopaperi.fi
