European stocks rose on Wednesday with prudent trading, outweighing new concerns over regulatory crackdowns on Beijing’s tech and education companies.
Investors are waiting for the Federal Reserve Board results later in the day to get clues about the tapering of stimulus.
The Pan-European STOXX 600 rose 0.3% to 460.15, marking two consecutive losses as Google, Apple and Microsoft all reported record earnings.
Germany’s DAX rose 0.2%, France’s CAC 40 index rose 0.6%, and the UK’s FTSE 100 rose 0.3%.
UK lender Barclays surged 4.2% as interim net profit surged more than five-fold due to lower-than-expected credit losses associated with COVID’s pandemic.
Deutsche Bank, a German peer, fell slightly, despite higher-than-expected profits in the second quarter and raising its earnings outlook for next year.
Wholesaler Metro AG rose 3.1% after raising its fiscal year outlook.
French information technology Capgemini rose 3% after raising its 2021 target.
Wizz Air Holdings surged 5.2%. The London-listed airline said it plans to operate at approximately 90% to 100% of its 2019 capacity in July and August.
Germany’s consumer confidence remains unchanged in August, according to market research group GfK’s findings, as economic announcements offset weak economic and income expectations with improved buying habits. I am.
Positive consumer sentiment was stable at -0.3 in August, while economists predicted the index would improve to +1.0. The survey was conducted from July 1st to 12th.
Elsewhere, UK home prices rose 10.5% year-on-year in July, slower than the 13.4% rise posted in June, data released by the Nationwide Building Society revealed. This was also weaker than the economist’s forecast of 12.1 percent.
The French Consumer Confidence Index index fell from 103, revised in June, to 101. Economists expected the readings to be stable at 102, the first score in June.
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European stocks are one inch higher in earnings
Source link European stocks are one inch higher in earnings