European Stock Market Show Mixed Performance At Opening

Here’s the latest information on Europe’s main stock markets as of today, July 30, 2024 ¹:

– Diverging Market Trends: European stock markets have shown diverging trends at the start of trading today, with London’s FTSE 100 index dropping 0.2% to 8,279.32 points, while eurozone indices, including the Paris CAC 40, have risen 0.3% to 7,466.46.

– French Economy Growth: The French economy has grown faster than expected in the second quarter, contributing to the positive trend in eurozone indices.

– STOXX 50 and STOXX 600: The STOXX 50 has dropped 0.4%, and the STOXX 600 has lost 0.3%, following a lackluster session on Monday, as traders continue to assess the impact of a potential political gridlock in France.

– Sector Performance: Oil and gas stocks have led losses, with Repsol (-1%) and Eni (-0.5%) being the biggest losers. BP has sunk almost 2.5% after the company said it expects lower realized refining margins and weak oil trading to hurt its second-quarter earnings. L’Oréal has lost 0.3% to a 35-week low, and Hermes has decreased 0.5% to a 21-week low.

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