Second day of gains in the European markets with a focus on results

The positive corporate results attracted the eyes of investors, setting aside for a while the wider financial concerns, giving impetus to the European indices for the second consecutive rising day of meetings.

In particular, the pan-European Stoxx 600 index closed trading at + 0.62% and 447.07 points, while the European high capitalization of the Stoxx 50 moved even better with an increase of 1.14% to 3,777 points.

In the individual European boards, the German DAX finished with strong gains of 1.35% at 13,979 points, the French CAC 40 strengthened almost 1% to 6,508 points, as well as the British FTSE 100 which closed at 7,510 points with + 1.15%.

The Italian FTSE MIB moved at the same pace in the region, finishing at 24,055 points with + 0.95%, while the IBEX 35 in Spain could not follow the general climate, closing with a small increase of 0.4% at 8,512 points.

On a corporate-laden day, strong performances by European giants boosted markets amid shocks caused by global growth concerns as the world’s two largest economies, the US and China, are expected to be tested. the next months.

Among other things, Barclays rallied more than 3% after exceeding estimates in the quarter, although it postponed its planned repurchase program.

Standard Chartered moved even better, with a brutal rally that exceeded 14% after its own results, while Temenos AG stole the show with + 17.5% against the backdrop of a Bloomberg post that talked about acquisition talks by the investment Thoma Bravo.

Sinch, on the other hand, sank -21% after the quarterly results it announced, disappointing markets with its performance.

Overall, however, about 61% of the companies that have announced their results so far have managed to surpass analysts’ estimates, according to estimates by Sanford C. Bernstein, cited by Bloomberg.

Meanwhile, the Europe-Russia gas tug-of-war continues, with the EU saying today that companies paying for Russian gas could avoid sanctions if their payments are considered complete when they have made a deposit. euros or dollars.

However, there may be no solution if Moscow insists on using a ruble account for the transaction as well.

Meanwhile, in the Financial Bulletin released today by the European Central Bank reiterates that the war in Ukraine has a serious impact on the economy of the Eurozone and has significantly increased uncertainty.

“The impact of the war on the economy will depend on the course of the conflict, the impact of the sanctions imposed and the possibility of further action,” the ECB said, warning that “inflation will remain high in the coming months, mainly due to the sharp rise.” energy costs “.