{"id":1571478,"date":"2022-07-26T11:24:06","date_gmt":"2022-07-26T15:24:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1571478"},"modified":"2022-07-26T11:24:16","modified_gmt":"2022-07-26T15:24:16","slug":"european-shares-flat-as-ubs-retailers-slide-offset-unilever-boost","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-shares-flat-as-ubs-retailers-slide-offset-unilever-boost\/","title":{"rendered":"European shares flat as UBS, retailers slide offset Unilever boost"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuropean-shares-flat-as-ubs-retailers-slide-offset-unilever-boost%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1571478&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Susan Mathew<\/p>\n<p>(Reuters) -European stocks were flat on Tuesday as a slide in retailers and Swiss bank UBS offset a rally in oil stocks and Unilever, which rose after an upbeat sales forecast.<\/p>\n<p>Retail stocks lost 2.1%, set for their biggest drop in six-weeks, hit by a profit warning from top U.S. retailer Walmart Inc, which cited surging prices for food and fuel affecting discretionary demand.<\/p>\n<p>Europe\u2019s luxury stocks fell, with LVMH down 0.3%. However, French liquor maker Remy Cointreau rose 0.4% after an earnings beat.<\/p>\n<p>Swiss bank UBS lost 6.3% on posting a smaller-than-expected rise in second-quarter net profit as its investment banking and wealth management businesses struggled.<\/p>\n<p>The pan-European STOXX 600 index was flat with broader sentiment remaining fragile on recession worries.<\/p>\n<p>European Union countries are set to approve a weakened emergency proposal to curb their gas demand on Tuesday after Russia said it will further cut gas supplies to Europe from Wednesday.<\/p>\n<p>\u201cWe think the EU might be able to avoid gas rationing \u2026 but the risks have risen significantly,\u201d Credit Suisse European economist Veronika Roharova said.<\/p>\n<p>\u201cEven if rationing is avoided \u2013 the surge in gas prices driven by supply uncertainty will depress activity further.\u201d<\/p>\n<p>Data on Monday showed Europe\u2019s biggest economy, Germany, maybe on the cusp of a recession. Last week, a survey showed euro zone business activity unexpectedly contracted in July.<\/p>\n<p>Credit Suisse cut its real GDP forecast for the euro area to 2.3% from 2.4% in 2022, expecting the sharpest contractions in Germany and Italy.<\/p>\n<p>Investors also braced for a likely 75-basis-point interest rate hike by the U.S. Federal Reserve on Wednesday.<\/p>\n<p>Worries about monetary policy tightening to control surging inflation and fears of an energy supply crunch have sent the STOXX 600 down about 13% for the year.<\/p>\n<p>London\u2019s FTSE 100 outperformed, up 0.6%, as commodity prices jumped, with oil up for a second day. The biggest boost came from a 2.5% jump in consumer company Unilever after its sales beat and upbeat forecast. [.L]\n<p>About 30% of the companies that are part of the STOXX 600 have reported results this earnings season, with 56% of them beating estimates, according to Refinitiv.<\/p>\n<p>Swiss chocolate maker Lindt &#038; Spruengli jumped 4.2% on raising its sales outlook and unveiling a 1 billion Swiss franc ($1.04 billion) share buyback programme.<\/p>\n<p> (Reporting by Susan Mathew in Bengaluru; Editing by Shounak Dasgupta)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2730581\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6P08M-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6P08M-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Susan Mathew (Reuters) -European stocks were flat on Tuesday as a slide in retailers and Swiss bank UBS offset a rally in oil stocks and Unilever, which rose after<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1571478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1571478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1571478"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1571478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1571478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1571478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1571478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}