European shares slip but log sixth straight month of gains



(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* STOXX 600 clocks best monthly run since 2013

* Unicredit jumps on results, Monte dei Paschi talks

* Euro zone rebounds stronger than expected in Q2

By Sruthi Shankar and Shreyashi Sanyal

July 30 (Reuters) - European stocks fell from record highs on Friday as concerns about the fast-spreading Delta variant and regulatory actions in China outweighed optimism around the quarterly earnings season and an economic recovery.

The pan-European STOXX 600 index .STOXX fell 0.5%, but rose for a sixth straight month in July, its longest winning streak since 2012-13 when it rose for 12 months in a row.

"We've seen moves in both directions this week, but they've lacked any sort of conviction," said Michael Hewson, chief market analyst at CMC Markets.

"The overriding concern being whether the second half of the year will be able to match up to some of the decent numbers we've seen from various company updates this week."

Travel and leisure stocks .SXTP and miners .SXPP were the top decliners.

Italy's UniCredit CRDI.MI gained 2.8% after posting higher-than-expected net profit, and said late on Thursday it had embarked on formal talks with the government over the possible acquisition of rival Monte dei Paschi di Siena BMPS.MI . Monte dei Paschi added 3.4%.

EssilorLuxottica ESLX.PA rose 3.4% as the Ray-Ban maker raised its full-year guidance after revenue doubled in the second quarter.

Overall, out of half the STOXX 600 companies that have reported so far, 67% have topped analysts' profit estimates, according to Refinitiv IBES data. While that is below the 72% beat-rate in the first quarter, it still tops the 51% rate in a typical quarter.

"We have had exceptional expectations, yet the companies have managed to beat those expectations," said Oliver Collin, fund manager of European equities at Invesco. "Interesting thing in Europe is those beats, quite different to the U.S., were rewarded in some sort of positive share price momentum."

Collin believes European equities' slant toward cheaply valued cyclical sectors and a stronger recovery momentum in the second quarter played a part in prompting the recent positive market response.

The euro zone economy grew more strongly than expected in the second quarter as the bloc rebounded from a recession caused by the COVID-19 pandemic, preliminary data showed.

British Airways owner IAG ICAG.L fell 7.5% after it said summer capacity would rise to 45% of pre-pandemic levels but warned that significant uncertainty remained.

German healthcare group Fresenius FREG.DE declined 3.9% after it raised its 2021 earnings guidance but sounded cautious on new virus variants and stalling vaccination progress.
Reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila and Nick Macfie

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Ang iyong kapital ay maaaring malugi. Ang mga produktong naka-leverage ay maaaring hindi para sa lahat. Tingnan ang aming Risk Disclosure.