European equities will snap three-week losing marathon as firm revenues lend support

European equities will snap three-week losing marathon as firm revenues lend support

On Friday, European equities were braced for snapping a three-week losing marathon, underpinned by everlasting strength in revenue updates because volatility receded and worries over ascending inflation went down.

Profits in the energy sector on the back of soaring crude as well as firm updates from key cap businesses, such as Eni, Schneider and Renault assisted the pan-European STOXX 600 index to add 0.5%.

The STOXX has gained over 2% this trading week, although it declined approximately 7% from the 2 1/2 year maximum reached in January.

This week's revival actually follows a chaotic start to February, when worries over inflation provoked a global sell-off in shares.

A number of market experts pointed out that the very reason for such a change in market sentiment might be rooted in the fact that the general global economic picture keeps remaining quite upbeat.

Thomson Reuters has just revealed that European fourth-quarter revenues have managed to gain 14.6%. Evidently, it’s a huge upwards update from the previous week's 11% surge estimate. Additionally, it came after 15 weeks affected by a bunch of downgrades.

As a matter of fact, the revision has brought the European Union to below the 14.8% surge rate, which was anticipated for the benchmark S&P 500. However, earnings beats in the United States keep to 78% compared to the outcome of 50% in the European Union.

On the day, the number one performer on the STOXX was represented by Vopak. The given benchmark tacked on 12.5%, after revenues went down less than anticipated. Expected. Meanwhile, Eutelsat inched up 5.8% reacting to its first-half revision.

In addition to this, Saab, Swedish defense company headed south about 11.1%. It’s because its dividend proposal turned to have fallen short of hopes.

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Crude holds revenues on API estimates

On Wednesday, crude held revenues in Asia because industry estimates revealed a much sharper draw in American crude inventories expected, although higher than seen gasoline stocks affected market sentiment…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera