EUROPE MARKETS: AstraZeneca And Daimler Lead European Stocks Higher On Day Of Earnings Onslaught
By Steve Goldstein, MarketWatch
European stocks gained on Thursday, with investors bidding auto
makers and pharmaceuticals higher in the face of data showing a
The Stoxx Europe 600 rose 0.59% to 397.37. Of the 600
constituents, 39 reported results, and the average reaction to the
earnings was better than the index, says George Pearkes, macro
strategist at Bespoke Investment Group.
Speculation that the European Union will grant the U.K. an
extension to Brexit also helped buoy sentiment.
The German DAX increased 0.58% to 12872.10, the French CAC 40
gained 0.55% to 5684.33 and the U.K. FTSE 100 rose 0.91% to
The European Central Bank didn't change interest rates in the
last meeting with Mario Draghi as president
During the press conference, Draghi said weak personal managers
index data justified the ECB easing package in August. On Thursday,
new figures showed the flash eurozone composite purchasing managers
index barely staying over the 50 mark in October.
The outlook in Germany in particular was worrisome, with the
services PMI falling to a 37-month low. Read:German economy
continues to struggle with manufacturing troubles spreading to
AstraZeneca (AZN.LN)(AZN.LN) provided the largest upward pull to
the Stoxx 600, with the Anglo-Swedish pharmaceutical rising 5.6% as
cancer drug sales drove better-than-forecast third-quarter sales
Daimler (DAI.XE) rose 3.3% as the German auto maker reported a
better-than-forecast operating profit
Nokia (NOKIA.HE) (NOKIA.HE) plunged 24% as the Finnish telecom
equipment maker lowered its guidance for this year and next
citing margin pressure, more 5G investments and additional
digitalization investments. The company also cited high costs
linked to first-generation 5G products, profitability challenges in
China and pricing pressure in early 5G deals.
(END) Dow Jones Newswires
October 24, 2019 11:43 ET (15:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
から 7 2020 まで 8 2020
から 8 2019 まで 8 2020