News

European Stocks Finish Strong

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Andrew R. Michaud

• July 30, 2023

The European stock market showed strong gains on Thursday, with the Stoxx Europe 600 index growing by 1.35% to reach 471.74^1^.

Positive Performances across Major Indices

Several major indices saw positive movements during the trading day. The French CAC 40 index added 2.05% to reach 7,465.24^2^. The German DAX increased by 1.70% to reach 16,406.03^2^. Meanwhile, the FTSE 100 index added 0.21% to reach 7,692.76^2^.

Notable Increases in Individual Stocks

Among the constituents of the Stoxx Europe 600 index, several companies experienced significant increases in their share prices. Business/consumer services company Sopra Steria Group S.A. saw the largest jump, with shares rising by an impressive 11.9%^3^. Technology firm ASM International N.V. and mining & metals company Polymetal International PLC also performed well, with their shares gaining 10.5% and 9.4% respectively^3^.

Leading Gainers in Technology and Retail

STMicroelectronics N.V., a technology company, and Inchcape PLC, a retail business, secured spots in the top five largest increases as well. Their stocks rose by 9.0% and 8.6% respectively^3^.

Declines in Some Stocks

While overall positive, not all stocks experienced gains on Thursday. Business services company Teleperformance SE saw the largest decline among Stoxx Europe 600 constituents, with shares plunging by 16.9%^4^. Investing/securities firm St. James's Place PLC and fossil fuels company Neste Oyj also suffered declines, with their stocks dropping by 16.0% and 13.6% respectively^4^.

Other Stocks with Decreases

Health care/life sciences company MorphoSys AG and investing/securities firm Eurazeo SE rounded out the top five largest decreases as their stocks fell by 7.6% and 6.9% respectively^4^.

Currency and Crude Oil Movements

The pound was down 0.54% against the dollar, while the euro declined by 0.77%^5^. On the other hand, Brent crude rose by 1.20% to reach $83.55^5^.

Changes in Bond Yields

The yield on the 10-year gilt rose by 2.91 basis points to 4.311%, while the yield on the German 10-year bund declined by 1.350 basis points to 2.47%^5^.