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Europe: Stocks end flat as worrying data offsets upbeat earnings

  • 📰 BusinessTimes
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  • 2 min. at publisher
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  • News: 11%
  • Publisher: 51%

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[BENGALURU] European shares ended flat on Thursday, after a jump in US weekly jobless claims and falling euro zone consumer confidence put a dampener on economic recovery hopes, erasing earlier gains made on strong regional earnings reports. Read more at The Business Times.

"We should be braced for a period of worsening economic news," ING's Chief International Economist James Knightley said.

Losses in the main index were capped by a 2.1 per cent surge in automakers after Germany's Daimler AG forecast a rise in operating profit at its Mercedes-Benz cars and vans division in 2020 as sales rebound. Publicis Groupe SA, the world's third-biggest advertising company, surged 8 per cent after it beat market expectations for quarterly underlying sales.

 

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