© Reuters. Screens showing data for the German DAX on the Frankfurt Stock Exchange on Monday. Photograph: Reuters.
(Reuters) – European equities extended gains in the previous session on Tuesday, boosted by Britain’s exit from the UK financial plan, as investors monitored earnings reports to gauge the economic outlook.
A European index rose 0.5% by 0705 GMT, extending gains for a fourth consecutive session, led by tech stocks, as shares of chip makers such as ASML Holdings and BE Semiconductor rose 0.9% and by 3%.
Market sentiment was bolstered by a report that the Bank of England is likely to delay the sale of billions of pounds of government bonds to encourage greater stability in troubled markets.
With central banks tightening monetary policies aggressively in the face of higher inflation in decades and growing recession risks in Europe due to the energy crisis, markets are analyzing business expectations to measure the impact of macroeconomic pressures.
Shares in French group Publicis were up 3.8% after the world’s third largest advertising group raised its full-year forecast for the second time this year.
Shares in Swiss pharmaceutical company Roche were down 1.5%, as its quarterly sales fell due to stagnation in Corona treatments and diagnostic test kits.
Shares of Rio Tinto (LON 🙂 fell 0.3% after it expected annual iron ore shipments to reach the lower end of its forecast due to weak global demand.
(Prepared by Amira Zahran for the Arab Newsletter – By Ali Khafaji)
