{"id":113072,"date":"2021-02-16T17:46:09","date_gmt":"2021-02-16T17:46:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113072"},"modified":"2021-02-16T17:46:09","modified_gmt":"2021-02-16T17:46:09","slug":"european-shares-end-flat-as-mining-gains-offset-broader-losses","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/european-shares-end-flat-as-mining-gains-offset-broader-losses\/","title":{"rendered":"European shares end flat as mining gains offset broader losses"},"content":{"rendered":"

(Reuters) – European shares ended flat around a one-year peak on Tuesday as a boost from major mining and bank stocks was tempered by losses in most other sectors, with investors remaining uncertain over a euro zone economic recovery.<\/p>

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 15, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 ended largely unchanged after jumping 1.3% in the previous session to its highest level since February 2020.<\/p>\n

A 2% rise in shares of Glencore helped the European mining index climb to a near 10-year high, while higher iron ore and base metal prices supported the sector.<\/p>\n

BHP Group, the world\u2019s largest miner by market capitalization, rose 1.5% after posting its best first-half profit in seven years and declaring a record interim dividend.<\/p>\n

Commodity prices have benefited recently from expectations that increased stimulus measures and steady vaccinations will stoke global demand.<\/p>\n

Energy stocks rose 0.5% on stronger oil prices.<\/p>\n

Bank stocks rose to a more-than 11-month high as investors bought into some sectors that have been severely hit by the pandemic. But they still remained well below pre-COVID-19 levels.<\/p>\n

Shares of Polish lender PKO Bank Polski topped the STOXX 600 on upbeat expectations over a long-running foreign currency mortgage issue.<\/p>\n

Data showed euro zone economic output contracted by less than expected in the fourth quarter of 2020.<\/p>\n

Other readings showed German investor morale was high over consumption picking up in the coming months, even as inflation expectations in the euro zone\u2019s largest economy were seen cooling.<\/p>\n

The STOXX 600 has struggled to reach pre-pandemic levels, lagging its peers across the Atlantic as a new round of lockdowns and disruptions to a vaccination drive hurt sentiment.<\/p>\n

\u201cThe weakness in economic activity will continue to weigh on output in the current quarter as restrictions curtail mobility and businesses postpone reopening,\u201d analysts at TS Lombard wrote in a note.<\/p>\n

\u201cGrowth will bounce back strongly in H2 on the back of pent-up demand and an easing of restrictions, although the vigour in economic activity could be less than before.\u201d<\/p>\n

Analysts hiked their first-quarter profit growth forecast for European listed companies to 42.7% from the 41% that was expected last week, according to Refinitiv data, on growing expectations of an economic recovery this year.<\/p>\n

But fourth-quarter earnings are now expected to have fallen 19.9% versus the 18.2% drop seen last week.<\/p>\n

Global equities have remained in demand as U.S. President Joe Biden negotiates a $1.9 trillion stimulus package. In the euro zone, finance ministers agreed on Monday that supportive measures for the economy should stay in place as long as needed.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – European shares ended flat around<\/p>\n","protected":false},"author":3,"featured_media":113071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nEuropean shares end flat as mining gains offset broader losses - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/european-shares-end-flat-as-mining-gains-offset-broader-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European shares end flat as mining gains offset broader losses - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – European shares ended flat around\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/european-shares-end-flat-as-mining-gains-offset-broader-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-16T17:46:09+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/cnewsfotor9-3.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/european-shares-end-flat-as-mining-gains-offset-broader-losses\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/european-shares-end-flat-as-mining-gains-offset-broader-losses\/\",\"name\":\"European shares end flat as mining gains offset broader losses - 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