The main European indices are moving in positive territory for the third consecutive session, taking advantage of the momentum from the positive corporate results to limit the losses of a falling month.
In particular, the pan-European Stoxx 600 index strengthened by 0.9% and moved to 451.09 points, with the high capitalization of the Stoxx 50 continuing to outperform by + 1.3% at 3,824 points.
In the individual European boards, the German DAX continues from where it stopped yesterday with a new rise of 1.15% to 14,140 points, the French CAC 40 strengthens by 1.1% and moves to 6,579 points, as well as the British which has a slower rise of the order of 0.6% at 7,552 units.
The picture is similar in the region, where in Italy the FTSE MIB is jumping 1.1% to 24,287 points, while the IBEX 35 follows with a more controlled rise of 0.5% to 8,557 points.
The quarterly results set the tone for trading in recent days, having distracted investors from the continuing strong uncertainties of the economic environment, with a number of European companies announcing their figures today.
Overall, the strong corporate results have renewed the investment mood worldwide, with the Hang Seng in Hong Kong currently holding a rally of more than 3% while the Asian indices are strengthening more than 1% in principle.
On the other side of the Atlantic, the US market reacted strongly yesterday with the brutal jump of more than 17% of the share of the parent company of Facebook, Meta, pushing the technologically weighted Nasdaq to + 3%.
However, the futures of the three Wall Street indices have returned to negative territory, mainly under the weight of Amazon, which disappointed in the results it announced after the end of yesterday’s session and is diving 9% in pre-conference trading.
However, as mentioned above, there are still a number of uncertainties in the wider economic environment, from energy prices and inflation to the general course of global economic growth.
Oil prices soared again yesterday, following a WSJ report stating that Germany had given the EU the “green light” to impose an embargo on Russian crude.
On the macroeconomic front, the French economy remained stagnant in the first quarter as domestic demand remained weak, despite easing restrictions on the coronavirus.
Source: Capital
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