Archive…European stocks
European stocks regained their gains on Wednesday after weaker-than-expected inflation data in Britain supported hopes that the Bank of England would cut interest rates soon, and gains were also strengthened by positive business results for some companies.
Stock movements
The European STOXX 600 index closed 0.5 percent higher after falling 1.0 percent in the previous session.
The British main index increased 0.8 percent after British consumer price inflation stabilized in January, despite expectations of an increase.
Stock markets around the world stabilized after sales that followed inflation data in the United States, which came higher than expected yesterday, Tuesday, which led to a decline in expectations that the US Federal Reserve would reduce interest rates.
European Central Bank Deputy Governor Luis de Guindos said on Wednesday that the bank needs some time and more economic data before it takes the decision to reduce interest rates.
Data showed that economic growth in the euro zone stabilized in the last quarter of 2023 compared to the previous quarter.
An index of aviation and defense stocks rose 1.2 percent, near an unprecedented level.
Technology stocks rose 1.0 percent after sharp losses in the previous session, while mining stocks fell 0.5 percent to their lowest level in nearly four months.
Delivery Hero shares jumped 19.6 percent in its strongest session since December 2019, after the German food delivery services group expected that cash flows from normal operations would cover the settlement of bonds and debts due in the coming years.
Coca-Cola shares rose 8.0 percent, as the Swiss-based company expected its annual profits to grow after announcing unprecedented profits in all of 2023.
Capgemini shares rose 6.9 percent after the French IT consulting group reported better-than-expected quarterly revenues.
ThyssenKrupp shares fell 10.5 percent after the company lowered its forecasts for annual sales and net profits, blaming the decline in demand and prices in the raw materials and steel sectors.
Heineken shares fell 6.4 percent, as the Dutch beer company expected operating profits to grow in single digits in 2024, due to geopolitical fluctuations and economic conditions. The food and beverage index fell 0.5 percent, influenced by Heineken stock.
#Britain
#European stocks
2024-02-14 18:11:15
#European #stocks #recover #inflation #declines #Britain
