David Talbot spoke at the London South East-Red Cloud Securities Global Mining Special. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Europe open: Shares rally after tough week, but Zalando out of fashion

Fri, 24th Jun 2022 08:18

(Sharecast News) - European shares rallied at the open on Friday after another week of sell-offs with investors hunting for bargains, although German fashion retailer Zalando slumped after downgrading its outlook.

The pan-European Stoxx 600 index rose 0.6% in early deals, with most major bourses higher. Britain's FTSE 100 was up despite the government losing two by-elections by huge margins, increasing the pressure on Prime Minister Boris Johnson, whose popularity is now ebbing among voters.

Only Germany's DAX was lower in a day short on major corporate news.

"Fluctuating sentiment is again in evidence, with investors reacting with some temporary relief to the absence of any new concerns," said Interactive Investor head of markets Richard Hunter.

"Indeed, US markets are on course to finish the shortened trading week marginally ahead, although the progress does little to stem the damage already done so far this year."

In equity news, Zalando plunged more than 16% to a more than three-year low after it lowered its 2022 outlook, citing deteriorating macro conditions and consumer confidence.

Italy's Saipem fell after the energy services group said it would have financial resources available for less than one year if its plans to raise capital did not go through.

Shares in UK bank Barclays made slight gains after the company said it had struck a deal to acquire specialist lender Kensington Mortgage Company.

More News
Today 11:07

BA and Heathrow welcome 'slot amnesty' as summer schedule deadline approaches

(Alliance News) - British Airways and Heathrow Airport have welcomed measures to help airlines prevent last-minute flight cancellations over the summer....

1 Jul 22 21:53

TRADING UPDATES: Scotgems to vote on liquidation; Mkango names new CFO

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:...

1 Jul 22 21:41

TRADING UPDATES: Crystal Amber plots more payouts; Orcadian fundraise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:...

1 Jul 22 20:05

TRADING UPDATES: Capital wins contracts; 4D pharma pauses enrolment

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and Friday and not separately reported by Alliance News:...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.