shares

European shares rebound from lows, euro set for best month in a decade

By Ritvik Carvalho

LONDON (Reuters) – European shares recovered from their lowest levels in a month on Friday, as investors looked past a severe economic contraction in the euro zone and on to company earnings, while the euro reached its highest in more than two years, set for its best month in a decade.

The euro zone’s economy recorded its deepest contraction on record in the second quarter, preliminary estimates showed, but inflation unexpectedly ticked up in July.

Gross domestic product in the bloc shrank by 12.1% from the previous quarter, the European Union’s statistics office, Eurostat, said in its flash estimates. The decline coincided with coronavirus lockdowns, which in many euro zone countries began to ease only in May.

The pan-European STOXX 600 <.STOXX> rose 0.6%, though it was on course to end the month flat or lower. Technology shares <.SX8P> led the rally, rising over 2% after Wall

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Global shares mixed, markets look to central banks, earnings

TOKYO (AP) — Global shares were mixed Friday, with European indexes rising in early trading, after Asian benchmarks mostly tumbled, as investors looked ahead to central bank meetings and corporate earnings reports.

Market players are monitoring financial reports to see how businesses have managed the fallout from the continued outbreaks of COVID-19. Some technology companies have bucked the trend and are showing positive results. But many companies are hurting.

Investors also are looking ahead to central bank meetings in Britain, Australia, India, Russia and Thailand next week.

France’s CAC 40 added 0.6% in early trading to 4,881.25, while Germany’s DAX gained nearly 0,8% to 12,474.45. Britain’s FTSE 100 jumped 0.6% to 6,026.35. U.S. shares were set to drift higher with Dow futures at 26,288.0, up 0.3%. S&P 500 futures were at 3,258.62, up 0.3%.

Japan’s benchmark Nikkei 225 dropped 2.8% to finish at 21,710.00, while South Korea’s Kospi slipped 0.8%

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