Oct 18 2024, 15:21
The STOXX 50 rose 0.1% and the STOXX 600 was little changed on Friday, as traders digested lackluster economic data from China, the prospect that the ECB will continue to cut interest rates at its upcoming meeting and fresh corporate results.
EssilorLuxottica was among the worst performers, down 1.8% after its quarterly results failed to impress investors. Inditex (-1.5%), Telefonica (-1.3%) and Schneider Electric (-1.2%) were also under pressure.
By contrast, the luxury sector was among the best performers, with Brunello Cucinelli up around 3% after announcing a 12% increase in revenue for the first nine months of the year. Shares in LVMH (2.9%), Kering (3.9%) and Hermes (1.7%) also rose sharply. ASML Holding (2.2%) posted gains, trying to recover from heavy losses earlier in the week. For the week as a whole, the STOXX 50 is down about 1% while the STOXX 600 is up about 0.3% so far.
Source: Trading Economics
