Live Markets: Earnings lift the STOXX, banks buoyant

Sartorius AG

17/10/2024 09:21

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      STOXX 600 up 0.2%
    

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      TSMC beat, earnings provide support
    

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      ECB in focus
    

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      Banks lead gainers
    

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      Nasdaq futures rise
    

  
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        EARNINGS LIFT THE STOXX, BANKS BUOYANT
    A number of well-received earning updates helped European
shares bounce back on Thursday, following a poor start to the
week on disappointment over results from heavyweights ASML
 ASML.AS  and LVMH  LVMH.PA .
    The region-wide STOXX 600  .STOXX  inched 0.2% higher.
    The top six performers - Sartorius  SATG.DE , Rentokil
 RTO.L , Merck  MRCG.DE , Nordea  NDAFI.HE  and Entain  ENT.L ,
up 4-12% - all rose following results.
    Analysts have downgraded estimates at the fastest pace in
seven months this week, setting a lower bar for beats, while
more optimism over the global outlook might spare shares from
severe punishment for misses, according to a Reuters analysis. 
    Banks  .SX7P  headed into the ECB meeting testing the 9-year
highs hit in August. They were last up around 1%, leading
gainers on the day and keeping their status as the best sectoral
performers in Europe this year.
    ASML fell over 1% to an 11-month low, adding to an over 20%
slide in the previous two sessions and offsetting gains among
other chip stocks following strong TSMC numbers.
    In London, the FTSE  .FTSE  was flat.
    Here is your opening snapshot:
    (Danilo Masoni)
    *****
    
    
    EARLIER ON LIVE MARKETS:
    EUROPE BEFORE THE BELL: TSMC BOOST, NESTLE MISS CLICK HERE
    ECB TO CUT, MARKETS WANT CLUES ON NEXT MOVE CLICK HERE

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ECB interest rates and rate expectations    https://reut.rs/4f8LBf4
EU open    https://tmsnrt.rs/3Y1WBne
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