(ABM FN-Dow Jones) European stock markets closed higher on Thursday, which also ended the trading week. Euronext, like most international exchanges, is closed on Fridays and Mondays.
The broad-based Stoxx Europe 600 index rose 0.6 percent to 432.22 points, and the German DAX index gave a 0.7 percent gain at 15,107.17 points, leaving the French CAC 40 index 0.6 percent at 6,102.96 points. The British FTSE 100 index closed up 0.4 percent at 6,737.30 points.
Investors got support from US President Joe Biden’s infrastructure program. He wants to invest billions of dollars in new roads, bridges and homes.
“While this is good news for the economy and supports stocks, it remains to be seen whether it will revive fears of the overheating economy,” said Charalambos Pisoros, an analyst at GFD Group.
On the macroeconomic front, it was announced on Thursday that industrial activity in the euro zone rose at a much faster pace in March. Manufacturing PMI increased from 57.9 to 62.5.
Separate indicators showed a similar picture. The German index rose sharply in March, as it did in France, Italy and Spain. Industrial activity in the Netherlands rose in March to its highest point since February 2018, and growth in the UK also accelerated.
German retail sales rose in February, but less sharply than expected. On a monthly basis, there was an increase of 1.2%, while the market expected an increase of 2.0%.
The EUR / USD was trading at 1.1768. At the start of the trading day, the currency pair was still at 1.1730 and when the US stock markets closed on Wednesday, the boards stood at 1.1728.
Oil rose 0.3 percent on Thursday.
Atos fell 12.7 percent after the French firm reported accounting irregularities. On reviewing the numbers, irregularities were discovered in the accounting records of two US companies, which account for approximately 11 percent of sales and 9 percent of operating margin.
Sodexo has seen a sharp decline in its turnover in the past six months, but it expects organic growth for the second half of the year. Sodexo continues to describe conditions as volatile, especially in Europe, where new waves of contamination with the Coronavirus are reported, the stock price closed 1.0 percent higher.
The European semiconductor sector performed strongly on Thursday, after impressive investment plans from TSMC. ASML won 2.4% and Infineon 1.1%.
The share of Delivery Hero rose 3.9 percent in Frankfurt. On Wednesday evening, Prosus appeared to have increased its stake in Delivery Hero to 25 percent. In Amsterdam, Brosus rose 5.3 percent. The AEX is now an index with several technology stocks, which means that the index was one of the best indicators in Europe today.
Wall Street Ranking
Near the European stock market close, the leading S&P 500 index rose 0.9 percent at 4,07.31 points. The Dow Jones index rose 0.3 percent, and technology market Nasdaq rose 1.5 percent in green.
ABM Financial News; [email protected]; Revised text: +31 (0) 20 26 28999.
From Beursplein 5, eds ABM Financial News Developments in the stock markets, and the Amsterdam Stock Exchange in particular, are closely watched. The information in this column is not intended as professional investment advice or as a recommendation to make specific investments.