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2020-07-30 12:05:00

EUROPE'S SHARES DOWN

EUROPE'S SHARES DOWN

REUTERS - JULY 30, 2020 - European shares opened lower on Thursday as a clutch of dismal earnings reports took the shine off the U.S. Federal Reserve's vow to keep stimulus taps open to shore up a coronavirus-ravaged economy.

The pan-European STOXX 600 fell 0.4% by 0713 GMT, dragged by 1.5% declines in banking stocks .SX7P and carmakers .SXAP.

Britain’s Lloyds Banking Group (LLOY.L) swung to a rare pretax loss in the first half of 2020, while Volkswagen (VOWG_p.DE) unveiled a first-half operating loss and slashed its dividend.

Anheuser-Busch InBev (ABI.BR) jumped 9.4%, providing the biggest boost to the STOXX 600 after saying it was encouraged by a global beer sales recovery in June.

Weak oil prices weighed on the energy sector .SXEP even as Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history after bumper earnings in its trading business, while France’s Total (TOTF.PA) said it would maintain its dividend.

Asian stock markets and Wall Street overnight gained as Fed Chairman Jerome Powell promised to “do what we can, and for as long as it takes,” to limit economic damage from the pandemic and boost growth.

Investors are eyeing a slew of economic data, including German second-quarter GDP data, euro zone June unemployment numbers and final consumer confidence data.

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Earlier:

EUROPE'S SHARES DOWN
2020, July, 14, 12:45:00
EUROPE'S GAS DEMAND DOWN
Gas consumption in Q1 fell by more than 20% year on year in a number of EU countries, including Romania, Latvia, Finland and Slovakia.
EUROPE'S SHARES DOWN
2020, July, 14, 12:40:00
EUROPE'S GAS TO UKRAINE UP
Ukraine's total gas import capacity has expanded to 170 million cu m/d in 2020, up from the maximum capacity of 66 million cu m/d in 2019,
EUROPE'S SHARES DOWN
2020, July, 14, 12:30:00
E.EUROPE'S ENERGY TRANSITION €10 BLN
The Modernisation Fund will allocate around €14bn from the auctioning of allowances from the EU Emissions Trading System (EU ETS)
EUROPE'S SHARES DOWN
2020, July, 6, 11:05:00
EUROPE'S STOCKS UP
The pan-European STOXX 600 rose 1.7%
EUROPE'S SHARES DOWN
2020, July, 3, 11:20:00
EUROPE'S ELECTRICITY INVESTMENT
the security of electricity supply in Europe becoming more and more precarious
EUROPE'S SHARES DOWN
2020, July, 2, 11:25:00
EUROPE'S INDEXES UP
The pan-European STOXX 600 rose 0.9%
EUROPE'S SHARES DOWN
2020, June, 30, 12:50:00
EUROPE'S STOCKS UPDOWN
The pan-European STOXX 600 index looked set to post a more than 12% rise in the quarter
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Tags: EUROPE, SHARES, STOCKS, INDEXES