Live Markets: STOXX in positive territory as real estate and oil jump

Springer Nature AG & Co KgaA

04/10/2024 09:48

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    STOXX IN POSITIVE TERRITORY AS REAL ESTATE AND OIL JUMP
    The STOXX 600  .STOXX  is up 0.2% this morning, driven higher by real estate and oil stocks
while a drop in the media sector and aerospace and defence keeps those gains capped. 
    Falling shipping stocks are also in focus - A.P. Moeller-Maersk  MAERSKb.CO  fell 7.7% to
the bottom of the STOXX 600- after workers and U.S. port operators agreed a deal to end a strike
on the East and Gulf coast docks far sooner than expected. Hapag-Lloyd  HLAG.DE  fell 12.4%.
    Denmark's DSV  DSV.CO  bucked the trend, rising 6.3% to the top of the index after it
carried out a $5.5 billion capital increase at no discount and narrowed its guidance.
    Academic research publisher Springer Nature  SPGG.DE  traded higher in its Frankfurt debut
on Friday, opening 6.7% above IPO pricing at 24 euros per share. 
    It outperformed a basket of media names  .SXMP  which was down 0.5%, today's worst off
sector. Real estate is the best performing, up 1.1%.  .SX86P  Oil stocks  .SXEP  are not far
off, rising 0.8% as crude oil prices climbed on concerns over a deeper conflict in the Middle
East.
    Elsewhere, Volvo Cars  VOLCARb.ST  shares spiked in morning trade and were last up 2.9%
after the Swedish government said the company may get an individual tariff on EU EV import
tariffs. 
    
    (Lucy Raitano)
    *****

    FOR FRIDAY'S OTHER LIVE MARKETS POSTS
    EUROPE MARKETS HEAD FOR MIXED START; MIDDLE EAST IN FOCUS CLICK HERE
    MIDDLE EAST TENSIONS DRIVE OIL PRICES CLICK HERE

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Oil price wary amid prospects of war escalation    https://reut.rs/3zM4k0O
Rising unemployment, rising risk    https://reut.rs/4dvNtxQ
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