Market Updates

European Markets Ease, Generali, Man Group, BP In Focus

Bridgette Randall
02 Aug, 2022
Frankfurt

    European markets traded lower on the worries that the rising tensions between the U.S. and China may spillover in the new round of trade war. 

    The DAX index declined 0.2% to 13,449.20, the CAC-40 index fell 0.4% to 6,409.80, and the FTSE 100 index eased 0.05% to 7,409.11. 

    A.P. Moller-Maersk increased 2.9% to 13.96 euros after the Danish shipping company raised its full-year guidance for underlying operating profits to about $31 billon from the previous estimate of $24 billion.

    Assicurazioni Generali SpA fell 1.9% to 14.60 euros despite the largest Italian insurance company said it has met all its target set in its strategic plan for the next two years. 

    BP Plc gained 3.6% to 406.40 pence after the the British oil exploration company increased its dividend and expanded its stock buyback after the company reported its best quarterly results in 14 years.  

    Man Group Plc plunged 9.9% to 241.24 pence after the U.K.-based asset management company reported its first decline in assets under management in more than two years.  

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