Telia AB logo

TELIA - Telia AB News Story

SEK35.72 -0.0  -0.1%

Last Trade - 5:00pm

Sector
Telecoms
Size
Large Cap
Market Cap £12.44bn
Enterprise Value £20.73bn
Revenue £7.59bn
Position in Universe 59th / 1829

UPDATE 1-Tech, luxury stocks drive European shares higher

Wed 20th January, 2021 9:58am
(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
    * Tech stocks hit 20-year peak
    * Luxury stocks gain on upbeat Richemont earnings
    * Investors eye big stimulus as Biden set to take office

 (Adds comments, update prices)
    By Amal S and Sruthi Shankar
    Jan 20 (Reuters) - European stocks rose on Wednesday after
chip equipment maker ASML and Swiss luxury group Richemont gave
encouraging earnings updates, while investors hoped for a big
U.S. fiscal relief package as Joe Biden takes over as the next
president.
    The pan-European STOXX 600 index  .STOXX  rose 0.5%, with
the technology sector  .SX8P  gaining 1.4% to its highest level
in nearly two decades. 
    ASML Holding NV  ASML.AS  rose 2.4% after it posted
better-than-expected fourth-quarter sales and said it had seen a
strong order intake for 2021.  urn:newsml:reuters.com:*:nL8N2JU6KV
    Technology stocks also looked set to boost Wall Street at
the open, with Nasdaq futures  NQcv1  jumping 0.6% on the back
of Netflix's  NFLX.O  stellar subscription growth numbers.
 urn:newsml:reuters.com:*:nL4N2JU3UF
    "It's potentially a case of rising tide lifts all ships,
that might be the case with Netflix's results and tech sector,"
said Connor Campbell, financial analyst at SpreadEx.  
    Luxury stocks got a boost after Richemont  CFR.S  posted a
5% increase in quarterly sales, led by strong growth at its
jewellery brands in Asia Pacific and the Middle
East. urn:newsml:reuters.com:*:nL8N2JV0Q7
    The group's stock rose 1.3%, rival Swatch Group  UHR.S 
gained 1.1%, while Britain's Burberry  BRBY.L  jumped 4.5% after
it posted a sales growth of 11% in Asia Pacific in the third
quarter.  urn:newsml:reuters.com:*:nL8N2JV1EX
    "Any sign that retail spending is picking up in China is
going to be a boost to the Western markets and those heavily
exposed to it," said Campbell. 
    European bourses mirrored an upbeat mood in global markets
after U.S. Treasury Secretary nominee Janet Yellen called for
big fiscal spending to support the pandemic-stricken economy.
    All eyes will be on Biden's inauguration as U.S. President
at noon in Washington (1700 GMT), with traders more focused on
his policies.
    Italy's FTSE MIB  .FTMIB  gained 0.6% and lenders rose
 .FTIT8300  1.7% after Prime Minister Giuseppe Conte won a
confidence vote in the upper house Senate on Tuesday.
 urn:newsml:reuters.com:*:nL1N2JU0XN
    Among other stocks, Germany's Hugo Boss  BOSSn.DE  added
5.8% after Mike Ashley-led Frasers  FRAS.L  said it boosted its
stake in the company.  urn:newsml:reuters.com:*:nL1N2JU26M
    Telia Co AB  TELIA.ST  jumped 4​​​​​​​% after the Nordic
telecom operator reported better-than-anticipated operational
cash flow in 2020.  urn:newsml:reuters.com:*:nL1N2JV0E6

 (Reporting by Sruthi Shankar and Amal S in Bengaluru; Editing
by Shailesh Kuber and Arun Koyyur)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.