Insider Business European shares flat as U.S. job data boost fades

European shares flat as U.S. job data boost fades

European shares were mixed on Monday morning as optimism fueled by a buoyant U.S. labour market and manufacturing faded, while a flurry of corporate news triggered sharp individual moves.

The pan-European STOXX 600 was down 0.02 percent at 0933 GMT and regional indexes got off to a choppy start.

Shares of Germany payment company Wirecard soared 12.8 percent after it said its law firm found no conclusive evidence of criminal misconduct. The Financial Times last week alleged financial wrongdoing at its Singapore office.

Iron ore pellet producer Ferrexpo dropped 8 percent after its auditors received statements from a charity containing “unexplained discrepancies”.

Denmark’s DSV fell 3.5 percent after its bid for Swiss freight forwarder Panalpina (off 8.3 percent) hit a road block when Panalpina’s top shareholder rejected the offer.

Shares in Pan-European stock market operator Euronext were up 1 percent up after it said it may sweeten its offer for Oslo Bors VPS as Nasdaq made a rival bid.

Julius Baer fell more about 5 percent after announcing cost cuts as profit missed expectations.

Ryanair shares were down 3.2 percent after the Irish budget airline reported a 20 million-euro ($22.9 million) loss in the third quarter. Citi analysts said they expected the market to focus on weak prospects for fare pricing and full-year guidance.

Rival EasyJet didn’t benefit from its rival’s loss and shed 2.5 percent.

Oil prices were at their highest so far this year as OPEC-led supply cuts and U.S. sanctions against Venezuela’s petroleum industry tightened markets.

“The commodity price appreciation was bad news for fuel-hungry airlines”, commented Russ Mould, investment director at AJ Bell.

Corporate news is set to intensify throughout the week with trading updates on Wednesday and Thursday, notably from BNP Paribas and ING among banks and Sanofi and GlaxoSmithKline for pharmaceuticals.


Top Stories

323 new cases of COVID-19, no deaths announced on Wednesday

The Health Ministry announced 323 new Coronavirus cases out of 33,194 PCR and rapid antigen tests on Wednesday, 3, March, taking confirmed infections to...

EU’s countries deviate from common vaccination strategy, looking at Israel, Russia, China

In recent weeks, several member states of the European Union have decided to distance themselves from the bloc's common strategy for vaccination against Covid-19...

70-year-old woman in danger due to fire at her apartment

A 70-year-old woman was in danger today due to a fire that broke out at her apartment, in the area of Faneromeni, in Larnaca. According...

Where to get a rapid test on Thursday, 4 March

Aiming at the continuous surveillance of the community and the workplaces, the free programmes of rapid antigen testing of the general population and employees...

Jobless rise by an annual 28% in February 2021

The number of unemployed persons registered at the District Labour Offices on the last day of February 2021 in February 2021 rose to 32,789...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...