European equity markets closed in the red on Wednesday


Cryptocurrencies were also in the spotlight on Wednesday. The bitcoin rate continues to break records amid the continuing interest of investors, trading above $ 51,000. The day before, the cryptocurrency rate for the first time crossed the psychologically important mark of $ 50,000.

In addition, market participants continued to follow the news regarding the situation with the coronavirus and the pace of vaccination. In the UK, 15 million people have already received the first dose of the coronavirus vaccine. In this regard, traders expect a faster recovery of the British economy compared to the eurozone.

Statistics released on Wednesday indicated higher-than-expected growth in consumer prices in the country.

Growth in consumer prices in the UK in January accelerated to 0.7% in annual terms after rising 0.6%. The acceleration in inflation is mainly attributable to higher prices for furniture and household goods (+ 12%), as well as transport services (+ 2.1%).

The composite index of the largest enterprises in the region Stoxx Europe 600 by the close of trading dropped by 0.74% and amounted to 416.10 points.

The British FTSE 100 index fell 0.56%, the German DAX fell 1.1%, and the French CAC 40 fell 0.36%. Italy's FTSE MIB shed 1.12%, while Spain's IBEX 35 shed 0.38%.

Kering SA shares lost 7.2%. The French holding company, which owns well-known fashion brands, at the end of 2020 reported a drop in net profit, revenue, and sales of the Gucci brand amid the pandemic.

Plus500 Ltd. declined 2.6%, although the operator of the online trading platform reported a record high for 2020 and announced a new share buyback program.

Koninklijke Ahold Delhaize NV shares lost 3.3%. The Dutch supermarket chain posted a net loss in the fourth quarter of 2020 amid rising costs associated with its US business.

British American Tobacco PLC shares were down 4%. The tobacco company boosted pre-tax earnings in 2020 with stronger-than-expected organic revenue growth and cost cuts, and said it expects the effects of the coronavirus pandemic to continue this year.

Societe BIC share price decreased by 4.7%. The French pen maker reported a sharp drop in net income and sales in the fourth quarter.

Imperial Brands PLC shares were down 0.5%. The British concern, which includes the tobacco company Imperial Tobacco, announced that its CFO Oliver Tant is stepping down and will be replaced by Lucas Paravicini.

Rio Tinto PLC capitalization decreased by 0.4%. One of the world's largest mining companies announced a record final dividend for 2020 amid a 22% rise in net income.

The price of Nestle SA shares increased by 0.06%. One of the world's largest food manufacturers has reached an agreement with investment companies One Rock Capital Partners and Metropoulos & Co. on the sale of regional brands of drinking water in the United States and Canada for $ 4.3 billion.

Akzo Nobel NV added 0.02% in price. The Dutch company, one of the largest paints and coatings manufacturers in the world, posted a fourth-quarter profit higher than expected by experts and increased its dividend.

The material has been provided by InstaForex Company -