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Big Pharma drags European shares down; inflation data in focus

Friday, January 6, 2023
Big Pharma drags European shares down; inflation data in focus © Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 30, 2022. REUTERS/Staff

By Bansari Mayur Kamdar

(Reuters) -European shares slipped on Thursday, led lower by drugmakers ahead of euro zone inflation data, while minutes from the U.S. Federal Reserve's December meeting showed the central bank was committed to taming inflation.

The pan-European STOXX 600 slipped 0.2% by 0920 GMT, having climbed more than 3% in the first three sessions of 2023.

Minutes on Wednesday from the Fed's December policy meeting showed officials were worried about "misperception" in financial markets that their commitment to fighting inflation was flagging, though they agreed the central bank should slow the pace of its monetary policy tightening.

The market was hoping the minutes could be a "blueprint to a pivot," said Danni Hewson, an analyst at AJ Bell. "What we got out of those Fed minutes was a reality check."

Healthcare stocks dragged, with pharma giants like Novartis AG and Sanofi (NASDAQ:SNY) shedding more than 1% each.

"The update from WHO about there not being a new variant coming out of China has made investors think there's not going to be quite the payday that they had expected," added Hewson.

"Another thing which will be weighing on investors' minds is inflation and the cost of living crisis because governments and consumers are having to think about where they spend their cash."

China-exposed luxury stocks such as LVMH and Hermes International (OTC:HESAF) fell over 1% each as rising COVID cases in the world's second-largest economy stoked worries over demand.

After a rough 2022, European shares had a strong start to the year, supported by economic data showing a milder-than-expected recession and easing of price pressures in some countries, along with hopes of a post-COVID recovery in China.

Investors await producer price data, due at 1000 GMT, for clues on the impact of the European Central Bank's aggressive tightening to tamp down inflation.

British clothing retailer Next jumped 7.8% after reporting better-than-expected fourth-quarter sales and raising its 2022-23 profit forecast.

The retail sector led sectoral gains in early trading, rising 2%. Retail stocks were battered last year, posting their worst annual performance since 2008, as rising interest rates and high inflation put pressure on household budgets.

German exports unexpectedly fell in November as high inflation and market uncertainty continue to weigh on Europe's largest economy despite fading supply chain problems.

Ryanair gained 5.9% on lifting its profit-after-tax forecast, citing recent pent-up travel demand while warning that COVID and the war in Ukraine could still impact its results.

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03-06-2023 23:50:46 (UTC+7)

EUR/USD

1.0708

-0.0054 (-0.50%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.0708

-0.0054 (-0.50%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.2450

-0.0077 (-0.61%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

USD/JPY

139.97

+1.17 (+0.85%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (3)

AUD/USD

0.6602

+0.0031 (+0.47%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

USD/CAD

1.3428

-0.0021 (-0.16%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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EUR/JPY

149.89

+0.52 (+0.35%)

Summary

↑ Buy

Moving Avg:

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EUR/CHF

0.9733

-0.0013 (-0.13%)

Summary

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Moving Avg:

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Sell (1)

Gold Futures

1,964.30

-31.20 (-1.56%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Silver Futures

23.695

-0.292 (-1.22%)

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↑ Sell

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Copper Futures

3.7310

+0.0200 (+0.54%)

Summary

↑ Buy

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Crude Oil WTI Futures

71.87

+1.77 (+2.52%)

Summary

Sell

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Indicators:

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Brent Oil Futures

76.40

+2.12 (+2.85%)

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Natural Gas Futures

2.177

+0.019 (+0.88%)

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US Coffee C Futures

180.60

-2.45 (-1.34%)

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Euro Stoxx 50

4,323.52

+65.91 (+1.55%)

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↑ Buy

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S&P 500

4,282.37

+61.35 (+1.45%)

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↑ Sell

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DAX

16,051.23

+197.57 (+1.25%)

Summary

↑ Sell

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FTSE 100

7,607.28

+117.01 (+1.56%)

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Sell

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Sell (8)

Hang Seng

18,949.94

+733.03 (+4.02%)

Summary

↑ Buy

Moving Avg:

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Sell (3)

Indicators:

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Sell (1)

US Small Cap 2000

1,830.91

+62.97 (+3.56%)

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↑ Buy

Moving Avg:

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IBEX 35

9,317.30

+149.80 (+1.63%)

Summary

Buy

Moving Avg:

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BASF SE NA O.N.

46.790

+1.940 (+4.33%)

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↑ Sell

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Bayer AG NA

52.61

+0.71 (+1.37%)

Summary

↑ Buy

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Allianz SE VNA O.N.

210.15

+5.95 (+2.91%)

Summary

Sell

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Adidas AG

159.52

+8.78 (+5.82%)

Summary

Buy

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Deutsche Lufthansa AG

9.303

+0.146 (+1.59%)

Summary

Buy

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Siemens AG Class N

159.28

+2.60 (+1.66%)

Summary

↑ Buy

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Deutsche Bank AG

9.862

+0.284 (+2.97%)

Summary

Sell

Moving Avg:

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Sell (9)

 EUR/USD1.0708↑ Buy
 GBP/USD1.2450↑ Buy
 USD/JPY139.97Neutral
 AUD/USD0.6602↑ Sell
 USD/CAD1.3428↑ Sell
 EUR/JPY149.89↑ Buy
 EUR/CHF0.9733↑ Buy
 Gold1,964.30↑ Sell
 Silver23.695↑ Sell
 Copper3.7310↑ Buy
 Crude Oil WTI71.87Sell
 Brent Oil76.40↑ Buy
 Natural Gas2.177↑ Sell
 US Coffee C180.60↑ Sell
 Euro Stoxx 504,323.52↑ Buy
 S&P 5004,282.37↑ Sell
 DAX16,051.23↑ Sell
 FTSE 1007,607.28Sell
 Hang Seng18,949.94↑ Buy
 Small Cap 20001,830.91↑ Buy
 IBEX 359,317.30Buy
 BASF46.790↑ Sell
 Bayer52.61↑ Buy
 Allianz210.15Sell
 Adidas159.52Buy
 Lufthansa9.303Buy
 Siemens AG159.28↑ Buy
 Deutsche Bank AG9.862Sell
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# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,690
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Cập nhật 03-06-2023 23:50:48
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ↀ Giá vàng thế giới
$1,948.20-28.75-1.45%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.79023.240
RON 95-III22.01022.450
E5 RON 92-II20.87021.280
DO 0.05S17.94018.290
DO 0,001S-V18.80019.170
Dầu hỏa 2-K17.77018.120
ↂ Giá dầu thô thế giới
WTI$71.91-8.61-0.11%
Brent$76.19-8.44-0.10%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.280,0023.650,00
EUR24.613,3825.991,59
GBP28.653,4729.875,26
JPY164,43174,07
KRW15,4818,86
Cập nhật lúc 18:50:19 03/06/2023
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