Stocks jumped on better-than-expected earnings reports
The start of the US trading session has been positive for traders of Tesla and Microsoft.
Warnings and downgrades put pressure on European equities
On Friday, dismal earning updates as well as a series of broker downgrades put pressure on European equities, thus leaving regional indexes on track for their second weekly decline in a row.
Market participants have been locking in revenues, shrugging off everlasting strength in economic data because euro zone earnings surge slowed versus the previous quarters and caution rallied over whether a stock market soar could continue or not.
On Friday, Elior went down 12% after Europe's number three catering group reduced its revenue guidance, pointing to the impact of Hurricane Irma.
Equities in Fresenius SE, Just Eat, Greene King, United Utilities as well as H&M all went down more than 2% following ratings downgrades from brokers.
The STOXX 600 headed south 0.2%.
As for top gainers, we should mention Vivendi, which gained 1.5%. The benchmark reversed earlier weakness because traders assessed an earnings report from the acquisitive French media conglomerate.
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