European Markets Close Higher, Swiss Jobless Rate Held Steady

Bridgette Randall
08 Aug, 2022
Frankfurt

European markets traded higher following the market advances in the U.S. and Asia. 

Investors overlooked the simmering tensions between the U.S. and China and shifted focus to regional economic news and corporate earnings. 

The eurozone investor confidence improved marginally in August according to a closely watched survey released by the think tank Sentix on Monday. 

The investor confidence index rose to -25.2 in August from -26.4 in July but was lower than estimated by some analysts at -24.8 and the elevated energy prices and soaring inflation are keeping the optimism in check. 

The unadjusted employment rate in Switzerland held steady at 2.0% in July on a monthly basis but fell from 2.8% rate a year ago, according to the data released by the State Secretariat for Economic Affairs or SECO on Monday. 

Seasonally adjusted jobless rate was unchanged at 2.2% in July from the previous month.  

The DAX index increased 0.9% to 13,691.37, the CAC-40 advanced 0.95% to 6,533.65, and the FTSE 100 index gained 0.6% to 7,487.37. 

Siemens Energy gained 1.03% to 16.37 euros after the power equipment maker reported a wider quarterly loss. 

Joules Group Plc gained 33.5% to 44 pence after the company said it is in discussion with the rival fashion house Next Plc for the sale of a strategic sale.  

Next Plc increased 0.5% to 6,478.85 pence. 

Veolia Environnement SA after the French water utility confirmed the sale of Suez's U.K. waste operations to Australia-based Macquarie Group for around 2.4 billion euros.

Pagegroup Plc declined 6.1% 424.13 pence after the recruiting group highlighted the weakening market for job placement.