European stock indices trading mixed

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European stock indices were trading mixed. The largest industrial index STOXX Europe 600 rose 0.08%. The German DAX index increased by 0.32%, while the English FTSE 100, French CAC 40, Italian FTSE MIB and Spanish IBEX declined by 0.13%, 0.18%, 0.1% and 0.15%, respectively.

Investors are still concerned about the spread of the coronavirus. Another important event is the annual economic conference in Jackson Hole. Federal Reserve Chairman Jerome Powell's speech will be the most anticipated part of this forum.

According to German statistical data, the gross domestic product (GDP) rose by 1.6% in the second quarter of 2021 compared with the first quarter of 2021. On an annualized basis, GDP grew by 9.4% contrary to preliminary data.

The strongest increase in prices was seen in the tourist, industrial, and mining sectors of the economy. The share price of the industrial Norwegian company rose by 4.9%, while the tourist Carnival Plc. rose by 3.8%.

At the same time, oil prices continue to rise after yesterday's growth of more than 5%. It should be noted that this was preceded by a long period of decline in its price. The increase in oil prices contributes to the growth of the market price of oil companies. The stock quotes of TotalEnergie increased by 1.8%, Royal Dutch Shell - by 0.6%, BP - by 1%.

At the same time, the shares of some other companies declined. Thus, the shares of the Swedish company Getinge AB fell by 2.7%. The shares of the British chain of stores J Sainsbury dropped by 1.7% after a sharp rise of 15.4% due to unconfirmed information about the purchase of the chain by Apollo.

The material has been provided by InstaForex Company - www.instaforex.com

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