STOXX 600 Ends Flat at 659.24 as 3% Mining Drop Offsets Strong Earnings
Updated
Updated · Lufkin Daily News · Aug 14
STOXX 600 Ends Flat at 659.24 as 3% Mining Drop Offsets Strong Earnings
3 articles · Updated · Lufkin Daily News · Aug 14
Summary
The pan-European STOXX 600 closed little changed at 659.24, pulling back from record highs as investors waited for Friday’s euro zone employment data.
Brent crude fell 0.7%, dragging energy shares down 0.8%, while basic resources slumped 3%—their sharpest drop in more than a month—as copper and precious-metal prices weakened.
Middle East uncertainty also capped risk appetite, with the U.S. and Iran making competing claims over control of the Strait of Hormuz, a key route for global energy supplies.
Strong earnings limited the damage: Maersk jumped 9.4% after raising guidance again, Adyen surged 16.4% on a higher revenue-growth forecast, while Swissquote sank 14% after missing first-half expectations.
The muted session came despite one of Europe’s strongest earnings seasons in years, leaving markets focused on whether incoming euro zone labor data will shift the ECB policy outlook.