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European shares open relatively flat after data from Germany

2019-11-06 08:51 am | Resource: News | No Views : 24

 European shares open relatively flat after data from Germany

Stocks in Major Companies Most European stock markets were flat with the opening bell on Wednesday, as investors grabbed the latest set of quarterly corporate results and news on China-US trade talks. It is said that Beijing and Washington are still unclear when it comes to signing the first phase agreement next week, as the Chinese government seeks to remove all tariffs before signing the agreement.

When it comes to profits, Germany in the morning had strong results from Adidas, Wirecard and BMW.

BMW posted revenue of 26.7 billion euros in the third quarter, up 7.9% year on year

Bayerische Motoren Werke AG reported on Wednesday that its revenues for the third quarter of 2019 fell at 26.7 billion euros, up 7.9% year on year and exceeding market expectations. a
  • The company's operating profit rose 33% to 2.29 billion euros in the third quarter.
  • The carmaker's net profit was 1.5 billion euros, up 11.5% year on year.
  • The report added that it delivered 613,361 vehicles to customers in the third quarter, marking a 3.6% jump over the same period last year.

German factory orders rose 1.3% in September

Factory orders in Germany rose 1.3% month-on-month, while they fell 5.4% year-on-year in September, according to provisional data released by the German Statistics Office on Wednesday. The revised monthly and annual changes for August were -0.4% and -6.5%, respectively. Meanwhile, new price-adjusted orders below the main orders rose 1.5% on a monthly basis.

Domestic orders rose 1.6% month-on-month, while foreign orders rose 1.1%. Orders from the Eurozone fell 1.8% while orders from outside the Eurozone jumped 6.7% compared to August. Manufacturing-adjusted trading declined in September by 1.4% on a monthly and seasonally adjusted basis, but rose 1.3% for August, confirming previous interim figures.

European stock openings
  • The DAX declined slightly, dropping 0.02% at the open
  • The CAC 40 lost 0.01% at the same time.
  • The FTSE 100 fell 0.11% on the opening bell.

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