Equities Europe: Little movement at a high level - company figures convince

PARIS / LONDON (dpa-AFX) - The European stock markets did not find a common direction on Tuesday with little movement overall. The leading index EuroStoxx won 50 around noon 0,35 percent to 3975,72 points, which means that it remained at its highest level since the beginning of 2008. For the French Cac 40 it went up by 0,40 percent to 6186,44 points. In contrast, the British FTSE 100 fell according to domestic economic data by 0,08 percent to 6883,85 meters.

After a severe setback at the start of the year, the British economy recovered slightly in February. In comparison to the previous month, the economic output increased by 0,4 percent, said the ONS statistics office. An ONS spokeswoman said that economic output was still around eight percent below the level before the Corona crisis a year earlier.

In a European industry comparison, the recently somewhat weak shares of travel and leisure companies were one of the leaders: their sub-index in the broad-market Stoxx Europe 600 gained 1,3 percent. At the other end of the overview were the indices of the defensive telecommunications and utility stocks, each of which lost around 0,6 percent.

The majority of company news received a positive response. According to sales figures for the first quarter, Givaudan shares gained over two and a half percent as the best value in the Swiss Market Index (SMI). The manufacturer of fragrances and flavors was able to increase its revenues by its own means - i.e. excluding acquisitions and sales and adjusted for currency effects - unexpectedly strong. In the wake of the Swiss, the titles of German competitor Symrise rose by around two percent.

The Just Eat Takeaway food delivery service continues to benefit from the order boom in the corona pandemic. At the start of the year, he was able to increase orders by almost 80 percent. The shares increased by a good three percent.

Meanwhile, the shares of Air France-KLM lost almost 2,3 percent after a capital increase against the industry trend. The French state is helping the airline in the Corona crisis once again with a billion sum. In the course of a capital increase, the government increases its stake from 14,3 to almost 30 percent. Air France-KLM expects around 900 million euros from the capital increase, in which other investors are also participating, as the French-Dutch company announced.