European Markets are Mixed as Economic Outlook Remains Unclear

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European Markets are Mixed as Economic Outlook Remains Unclear

by TheStreet 2:14 mins

European Markets are Mixed as Economic Outlook Remains Unclear

by TheStreet 2:14 mins

European markets were mixed this morning as worries continued over the Eurozone economy. With inflation stable at 0.5% in June, some fear the single currency area is still perilously close to deflation. Yet Goldman Sachs analysts have lifted their outlook for growth in the U.K. economy to 3.4% this year and 3%, the next, raising the chances of an early interest rate rise. London-listed Pharmaceuticals company Shire announced a $410 million Canadian tax rebate, which may strengthen its hand as it fights a $45 billion takeover bid from Chicago’s AbbVie. Dutch electronics and healthcare company Philips will spin out its LED and Automotive lighting businesses into a separate unit and may seek outside investors for the business. Danish wind turbine maker Vestas announces big orders from projects in the U.S. French bank BNP Paribas may get time to prepare for a dollar dealing ban in the U.S.

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