STOXX 600 jumps as energy and tech lead the charge, positive earnings help

By Shashwat Chauhan and Pranav Kashyap

(Reuters) -Europe's STOXX 600 bounced back with a 1% gain, driven by strong performances in the energy and technology sectors, while positive earnings reports added to the upbeat mood.

The pan-European STOXX 600 index gained 1.1% to 507.02 points. But it was pinned near a three-month low, after falling in the previous two sessions.

All regional bourses also advanced between 0.5% and 1.4%.

ASML (AS:ASML ) gained 6.9% after Europe's largest tech firm said it expects sales to grow by 8%-14% over the coming five years, boosting the tech sub-sector 3.1%.

Telecoms was among the top five major gainers in the sub-sectors, adding 1.8%, while heavyweight energy stocks advanced 1.7%.

Deutsche Telekom (OTC:DTEGY ) advanced 3.3% after Europe's largest telecoms group by market capitalisation raised its full-year core profit forecast and marginally beat third-quarter core profit expectations.

On the macro front, euro zone gross domestic product rose by 0.4% in the third quarter, in line with a Reuters poll of estimates, while the bloc's flash employment grew more than expected in the third quarter, rising 0.2%.

"European indices finally got a bit of a break today, as dip buyers came in and prompted substantial gains in these beaten-down markets. Key levels were defended and the broad-based buying augurs well for a near-term recovery," said Chris Beauchamp, chief market analyst at online trading platform

IG.

Recent euro zone data showed inflation is on track to reach the ECB's 2% goal, its Vice President Luis de Guindos said.

Despite Thursday's gains, the STOXX 600 index was yet to rise above last week's levels, when European equities were rocked after Donald Trump's sweeping victory in the U.S. presidential election.

The likelihood of tariffs by the Trump administration have kept European investors on edge.

Comments from ECB President Christine Lagarde, due at 1900 GMT, will be on investors' radar.

Among other stocks, Monte dei Paschi di Siena (MPS) jumped 11.6% after Italy sold a 15% stake in the bank to rival Banco BPM, which also gained 4.7%.

Siemens (ETR:SIEGn ) rose 4.9%, after the German engineering group beat fourth-quarter profit estimates.



Burberry (LON:BRBY ) soared 18.7% after announcing a turnaround plan that was met with relief, as the British luxury retailer swung to a loss in the first half of its financial year.

Allegro (WA:ALEP ) slid 11.3% after Poland's biggest e-commerce platform said it expects a decline in its fourth-quarter earnings.

Source: Investing.com

Последние публикации
Adani shares rise; CFO says publicly listed firms not subject to US indictment
25.11.2024 - 06:00
Asia stocks jump on gains in cyclical sectors, US optimism
25.11.2024 - 06:00
Australia PM plays down privacy fears of social media ban for children
25.11.2024 - 05:00
Adani bonds slide to year low as investors weigh bribery allegations
25.11.2024 - 05:00
Apple’s China suppliers rally as CEO Cook appears in Beijing
25.11.2024 - 05:00
US stock futures rise as Trump picks Bessent for Treasury role
25.11.2024 - 04:00
'Wicked,' 'Gladiator II' bring in $270.2 million in global box office
25.11.2024 - 04:00
Webush upgrades Snowflake, Elastic to Outperform on AI optimism
25.11.2024 - 04:00
Australia’s SG Fleet jumps on $785 mln takeover bid from Pacific Equity Partners
25.11.2024 - 04:00
Trump's FDA pick Makary boosts BioPharma confidence, says BMO
25.11.2024 - 04:00
Air New Zealand sees lower earnings for first half of 2025 as engine issues persist
25.11.2024 - 04:00
US plans to reduce Intel's $8.5 billion federal chips grant below $8 billion - New York Times
25.11.2024 - 04:00
Intel to receive smaller CHIPS Act grant from Washington- NYT
25.11.2024 - 04:00
Chinese EV demand expected to remain strong through 2024 end - HSBC
25.11.2024 - 04:00
ONEOK to buy rest of EnLink for $4.3 bln in stock
25.11.2024 - 04:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?