European equities close at record high on strong balance sheets

Get real time updates directly on you device, subscribe now.

Though tech stocks tumbled as fears of increased competition weighed on online food delivery papers, the European stock market closed at a record high on Wednesday (10) after companies in the media and energy sectors reported positive results in your financial statements.

The FTSEurofirst 300 index rose 0.27% to 1,872 points, while the pan-European STOXX 600 index gained 0.22% to 484 points.

Media and energy stocks were among the biggest highs. British broadcaster ITV jumped 15.1% after projecting record ad revenue this year.

Bank shares rose 0.5%, following bond yields, after data showed that inflation in the United States rose more than expected.

Technology papers were the biggest losers, down 1.3%. Semiconductor maker Infineon lost 1.2 percent even after surpassing its quarterly sales estimate as investors worried about a global chip shortage.

Online food delivery stocks HelloFresh and Just Eat Takeaway.com lost 0.4% and 3.3% respectively after US-based DoorDash said it would buy Finnish rival Wolt Enterprises in a deal valued at around 7 billion of euros.

  • In London, the Financial Times index rose 0.91%, to 7,340 points;
  • In Frankfurt, the DAX index rose 0.17% to 16,067 points;
  • In Paris, the CAC-40 index gained 0.03% to 7,045 points;
  • In Milan, the Ftse/Mib index appreciated 0.44%, to 27,561 points;
  • In Madrid, the Ibex-35 index rose 0.74%, to 9,141 points;
  • In Lisbon, the PSI20 index gained 0.38% to 5,704 points.

Reference: CNN Brasil

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.