European stocks struggled on the last day of the month, quarter and first half of 2021, as losses for banks and autos weighed. U.S. stock futures pointed to modest gains as investors looked ahead to Friday’s jobs data.
The Stoxx Europe 600 index
SXXP,
-0.63%
slipped 0.2% to 455.65. The index has gained around 14% in the first half of the year, 6% for the second quarter and 2% for the month. The German DAX
DAX,
-0.78%,
the French CAC 40
PX1,
-0.81%
both slipped around 0.2% each, while the FTSE 100 index
UKX,
-0.64%
fell 0.5%.
Stock futures
ES00,
-0.14%
YM00,
-0.28%
NQ00,
-0.02%
indicated a steady start for Wall Street ahead of an ADP private-sector hiring report, as Friday’s key jobs report looms.
The S&P 500
SPX,
+0.03%
and Nasdaq Composite
COMP,
+0.19%
finished Tuesday’s session in record territory as investors brushed aside concerns about the spread of the highly contagious COVID-19 delta variant. Helping out was news from pharmaceutical company Moderna MRNA , which said an in-vitro study revealed its COVID-19 vaccine can protect against several variants, including the delta variant.
Economic data from the U.K. showed gross domestic product (GDP) fell 1.6% in the first quarter of 2021, revised from an initial estimate of a 1.5% fall. The level of GDP is now 8.8% below — from an initial estimate of 8.7% below — where it was pre-pandemic in the fourth quarter of 2019.
Investors were waiting on a flash estimate of June consumer price inflation for the eurozone.
Most European stocks were in the red, led by banks, with shares of HSBC
HSBC,
-1.16%
HSBA,
-1.39%,
BNP Paribas
BNP,
-2.18%
and Banco Santander
SAN,
-0.76%
SAN,
-1.68%
down around 1% each.
Auto makers were also under pressure, with shares of Porsche Automobil Holding
PAH3,
-4.22%
down 2.9% and Volkswagen
VOW3,
-3.31%
VOW,
-3.46%
off 2% .
Travel-related stocks also slipped with shares of International Consolidated Airlines
IAG,
-2.15%
down 1.5% and cruise group Carnival
CCL,
-1.73%
off 2%.
Acciona Energia set its initial public offering at the lower end of an expected range, seeking a market capitalization of around 8.8 billion euros ($10.47 billion). The renewable energy company, which is owned by Spain’s Acciona SA
ANA,
-1.25%,
said the IPO would be priced at EUR26.73 per ordinary share. Acciona shares fell 0.5%.
