Most European equities close in positive territory, Stoxx Europe 600 hits record

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Most European equities close in positive territory, Stoxx Europe 600 hits record

Most European equities close in positive territory, Stoxx Europe 600 hits record

Most European equities close in positive territory, Stoxx Europe 600 hits record

Consumer prices in France, harmonized with European Union standards, increased by 1.4% in March 2021 in annual terms. In February, consumer prices in France rose 0.8% on an annualized basis.

Five leading research institutes in Germany have worsened the forecast for economic growth in the country for the current year amid a new wave of COVID-19 incidence and the persistence of restrictive measures. In 2021, Germany’s GDP is expected to rise by 3.7%, while the October forecast provided for an increase of 4.2%. Meanwhile, by the beginning of next year, the situation in the economy should normalize, according to experts. The estimate of economic growth in Germany in 2022 has been improved to 3.9% from the previously projected 2.7%.

The composite index of the largest enterprises in the region Stoxx Europe 600 rose by 0.45% to 438.55 points. Thus, the indicator renewed its all-time high at 437.23 points, set last week.

Britain’s FTSE 100 rose 0.63%, Germany’s DAX rose 0.3%, and France’s CAC 40 rose 0.41%. The Italian FTSE MIB and the Spanish IBEX 35 were down 0.19% and 0.20%, respectively.

Shares of ABB Ltd. on Thursday rose 3.2%. The Swedish-Swiss electrical engineering concern in the first quarter increased its revenue to $ 6.9 billion from $ 6.22 billion a year earlier, preliminary data show. The operating EBITA margin was 13.5% compared to 10.2% in the first quarter last year. ABB improved its revenue forecast for 2021, now the company expects revenue growth by 5%.

Publicis Groupe SA shares gained 3.3%. The French company, one of the world’s largest advertising holdings, posted 2.8% organic revenue growth in the first quarter, returning to positive momentum as the impact of the coronavirus pandemic on the company’s business weakened.

Serica Energy Plc lost 2.3%. The British oil and gas company in 2020 reduced pre-tax profit to 12.5 million pounds ($ 17.2 million) from 108.8 million pounds. Serica’s revenue fell by about half to £ 125.6 million. The company’s production fell by 21%, prices, that is, by about 33%. At the same time, the board of directors recommended raising the dividend to 3.5p from 3p per share.

Deliveroo Holdings Plc’s delivery service declined 3.8% in market value, although the company recorded a 114% year-on-year increase in first-quarter orders to 71 million. Gross transaction value (GTV) jumped 130% to £ 1.65 billion.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/217091/