Earnings spur relief rally in European stocks

Author of the article: European bourses rose in early trading on Wednesday, supported by some strong earnings reports, while investors took stock of Western sanctions against Moscow over its standoff with Ukraine. The pan-European STOXX 600 index gained 0.8% by 0810 GMT, steadying after a sell-off this week pushed it briefly to a seven-month low…
Earnings spur relief rally in European stocks

Author of the article:

European bourses rose in early trading on Wednesday, supported by some strong earnings reports, while investors took stock of Western sanctions against Moscow over its standoff with Ukraine.

The pan-European STOXX 600 index gained 0.8% by 0810 GMT, steadying after a sell-off this week pushed it briefly to a seven-month low on Tuesday.

Western nations and Japan punished Russia with new sanctions for ordering troops into separatist regions of eastern Ukraine, but raised hopes that a war on Europe’s eastern flank can be avoided.

Automakers led sectoral gains in Europe as Stellantis rose 5.2% after the carmaker said the margin on its adjusted operating profit climbed above its target in the first year after merger.

French yogurt maker Danone added 4.3% after reporting stronger-than-expected sales growth in the last quarter of 2021.

Barclays gained 2.5% after its annual profit nearly trebled and the British lender returned 2.5 billion pounds to shareholders in 2021.

Germany-based online broker FlatexDEGIRO shot up 18.8% after a report the company is attracting interest from private equity firms. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
AMD Announces Retirement of John Caldwell from Board of Directors and Appointment of Nora Denzel as Lead Independent Director
Read More

AMD Announces Retirement of John Caldwell from Board of Directors and Appointment of Nora Denzel as Lead Independent Director

Author of the article: Publishing date: Nov 16, 2022  •  11 hours ago  •  2 minute read Join the conversation SANTA CLARA, Calif., Nov. 16, 2022 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) announced that John Caldwell is retiring from the AMD board of directors after 16 years of service. Nora Denzel will succeed Caldwell as lead…
Three Arrows Capital says its founders still not cooperating with asset recovery
Read More

Three Arrows Capital says its founders still not cooperating with asset recovery

Author of the article: Publishing date: Dec 03, 2022  •  3 hours ago  •  2 minute read Join the conversation Liquidators for bankrupt crypto hedge fund Three Arrows Capital(3AC) said on Friday that the company’s founders are refusing to cooperate with asset recovery efforts, hindering the company’s ability to return funds to creditors. Founders Kyle Davies…
EU Gas Unity Tested as Italy Drops Regional Benchmark From Bills
Read More

EU Gas Unity Tested as Italy Drops Regional Benchmark From Bills

The European Union is facing its worst energy crisis in decades and there are already signs that its members aren’t responding with unity. Author of the article: Bloomberg News Elena Mazneva nbr2kn38mrhp11c8goq{(1et_media_dl_1.png Bloomberg RSS (Bloomberg) — The European Union is facing its worst energy crisis in decades and there are already signs that its members…