European markets are in doubt as the relief surge stalls; EDF is up 15% on the government takeover

Published on:

Last Updated on July 19, 2022 by Bitfinsider

By mid-afternoon, the pan-European Stoxx 600 index, which had earlier declined by more than 0.6 percent, was roughly flat. Chemicals fell 0.7 percent while banks increased by 1.1 percent.

In the previous trading day, the European blue chip index increased by 0.8 percent, continuing gains seen at the conclusion of the previous week amid generally upbeat global sentiment.

However, given the absence of fundamental drivers and ongoing worries about GDP and inflation, numerous analysts expressed doubt about the rally’s viability.

This week, all eyes will be on the European Central Bank’s policy meeting on Thursday in Frankfurt. The bank’s decision-makers have announced their intention to raise interest rates for the first time in 11 years, but they must contend with a slowing economy due to the conflict in Ukraine and the ensuing threats to energy supplies.

The start of earnings season is also progressing. Before the bell rang on Tuesday, companies like Novartis, Ubisoft, Remy Cointreau, Vinci, Telenor, Assa Abloy, Swedbank, and Finnair were among those reporting.

After announcing significant first-quarter revenue growth, London-based fintech company Wise saw a 16 percent increase in share price.

Following the announcement that the French government will pay 9.7 billion euros ($9.9 billion) to acquire full control of the indebted company, the French utility EDF saw a 15% increase.

Alstom, a French manufacturer, dropped 6 percent to the bottom of the index following the release of its quarterly earnings report.

With the U.K. Conservative Party leadership race nearing its fourth round of MP voting as the surviving candidates vie to succeed Prime Minister Boris Johnson, political instability has also come to the forefront.

The unrest comes as the U.K. on Tuesday reported a record real wages decline of 2.8 percent even though the job market is still in good shape.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked.

To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor


Are you new to investing and would like to find out more about investments and cryptocurrency? If you know nothing about a topic and want to become an expert on it, one fool proof way to start is to read good books about the topic.

If you read one book about a topic, you will be able to share knowledge or discuss the topic at an elementary level with almost everyone.

Read three books and you will likely know more than the majority of people and will be able to discuss the topic at an intermediate to expert level.

  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.

Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related