The Stoxx 600 is poised for its fourth loss in a month. Europe traded mixed
Europe got off to a mixed start with the region’s benchmark poised to close out a fourth month of losses. Investor fears about the imposition of restrictive monetary policy to fight inflation were more important than the short-term positive sentiment caused by “dip buyers” – investors who buy falling stocks.
The Stoxx 600 depreciates 0.48% to 444.41 points. Among the 20 sectors that make up the European benchmark, technology is losing out, while the personal goods sector leads the growth, albeit marginally.
Highlights include Unilever’s 7.7% rise after the company announced to the market the appointment of Nelson Peltz as a non-executive director and announced that activist investor Trian Fund Management owns a 1.5% stake in the company. The consumer goods company is not only resisting the downtrend in the Stoxx 600, but is also putting pressure on the London Stock Exchange.
In May, the European benchmark was once again a highly volatile month, with investors torn between the “book prices” of some stocks and fears that the ECB’s hawk would fly over the region, triggering a recession. On Tuesday, the session promises to be marked by the publication of a quick estimate of inflation in the Eurozone for May.
Elsewhere in Europe, Lisbon rose 0.33%, London rose 0.17% and Amsterdam rose 0.97%. Madrid fell 0.43%, Milan 0.73%, Frankfurt 0.76% and Paris 0.86%.
