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Europe is waiting for bond bills, interest on Portuguese debt reaches 9-month highs and oil rises 4% - Markets in a minute

Europe is waiting for bond bills, interest on Portuguese debt reaches 9-month highs and oil rises 4% – Markets in a minute

Europe is waiting for corporate accounts

European bourses ended in an almost overall bullish trend, led by the cyclical sectors, with investors focusing on the timing of the first quarter results.

The Stoxx 600 rose 0.22% to 436.71 points.

Gains led the listings related to natural resources, energy, entertainment and travel, while utilities (water, electricity and gas), listed in the defense securities sector, were traded in red.

The 10-year increase in US sovereign debt yields sustained cyclical prices, while affecting the most interest-sensitive sectors.

Cyclical securities, such as financial, industrial and energy, always benefit from the prospect of an economic recovery.

Luxury giant LVMH added 2.9% after announcing a strong sales increase.

Oil companies have also made gains, as was the case with BP and Shell, due to higher crude oil prices – which continues to rise by about 4% in London and New York due to falling stocks in the United States of America and the upward review, by part of the International Energy Agency, of demand. Global this year.

British retailer Tesco was among the weakest performers, down 2%, after it said its growth could slow as restrictions caused by covid-19 are eased in the UK. Its strong revenue growth was driven by a 77% increase in online sales due to confidence.

Among the major European indices, the French CAC-40 rose 0.4%, the British FTSE 100 rose 0.7%, and the Spanish IBEX 35 was also up 0.7%. In Amsterdam, the AEX index posted a 0.6% increase. On the downside, with very marginal declines, the highlights were the German DAX, which posted 0.2%, and the Italian FTSEMIB, which fell 0.1%.

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“European stocks traded mostly higher on Wednesday, despite the disproportionate performance across the continent, with reports of mixed gains in different areas,” said Pierre Ferrett, technical analyst at ActivTrades, in his daily analysis.

He pointed out that “while most of the benchmark indicators remain close to their historical highs, some technical indicators indicate that prices are losing direction. In fact, investors seem keen to raise stock prices, but they desperately need more stimuli. The market.”

In this way, he continued, “short-term risk appetite could be seriously affected if companies’ results disappoint and if the pause in vaccine administration in Asia continues this week. Moreover, even if concerns about inflation have eased because of Verrett, ”he said. Central banks have not completely disappeared. “