(ABM FN-Dow Jones) European stock markets closed mostly higher on Thursday. The Stoxx Europe 600 rose 0.5 percent to close at 438.55 points. The German DAX index showed an increase of 0.3 percent to 15,255.33 points. The French CAC 40 index posted an increase of 0.4 percent, with a result of 6,234.14 points. Britain’s FTSE Index won 0.6 percent to close at 6,983.50 points.
The Spanish and Italian stock markets had to take minor losses.
Michael Hewson, an analyst at CMC Markets, specifically referred to the benchmarks for the Stoxx Europe 600 and FTSE 250 Index. According to him, UK stocks in particular are becoming more attractive as the UK prepares to reopen the economy further.
While the European earnings season will actually gain momentum next week, investors could start this week with quarterly US results, such as those of the major banks. This turned out to be better than expected, but ABN AMRO’s market strategist Tom Kinmanth pointed to disappointing credit growth.
According to a market expert, this may bode well for European financial institutions targeting this type of traditional banking activity. In addition, European banks are facing a negative interest rate environment.
According to economists at Capital Economics, the delay in vaccination with the Johnson & Johnson vaccine is also less low, because the start of general vaccination in the European Union is delayed by at least a month.
Confirmation of the previously reported inflation data for the month of March came from Germany and France on Thursday. These are showing an upward trend, in line with the European Central Bank’s expectations. Germany’s annual inflation rate was 1.7 percent, up from 1.3 percent in February.
In France, consumer prices rose 1.1 percent in March after inflation of 0.6 percent in February.
The EUR / USD traded near the European close at 1.1962. The price of a barrel of WTI oil became slightly higher on Thursday.
Deliveroo continued to grow in the first quarter of 2021. Deliveroo expects the rate of growth to slow once shutdowns are scaled back. According to the British meal delivery company, it is not yet possible to estimate the size of the drop. The stock lost 3.8 percent. Sector peers like Just Eat Takeaway and Delivery Hero won 0.8 and 1.7 percent, respectively.
The Swedish-Swiss company said on Thursday that industrial group ABB was better than expected in the first quarter, especially during the last weeks of March. The stock closed up 3.3 percent.
Publicis Groupe announced positive results for the first quarter, with organic sales increasing nearly 3 percent and forecasting 10 percent sales growth in the second quarter. The share rose 3.3 percent, topping the list in Paris
Real estate company Deutsche Wohnen has done a good job in Frankfurt. The stake rose 2.5 percent after the German Constitutional Court ruled that the rental freeze in Berlin was illegal.
CMC’s Hewson said GlaxoSmithKline rose 4.6 percent in London on reports that activist Elliott Management has acquired a stake in the pharmaceutical company.
Wall Street Ranking
US stock markets have been marked in green around the European close.
ABM Financial News; [email protected]; Revised text: +31 (0) 20 26 28999.
From Beursplein 5, eds ABM Financial News Developments on stock exchanges, 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.