Live Markets: Bounce back
22/04/2024 07:42
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BOUNCE BACK
European shares were set for a bounce-back on Monday as no big escalation in tensions
between Israel and Iran eased some of the geopolitical concerns that gripped markets last week
ahead of earnings from top U.S. tech companies.
EuroSTOXX50 and FTSE futures rose 0.5 and 1%, respectively after the broader European market
.STOXX fell to over one-month lows last week, with a five-month drop of 1.2%.
U.S. futures also pointed to a higher start on Wall Street, with Microsoft MSFT.O ,
Alphabet GOOGL.O , and Meta META.O all due to report in the coming days.
In European news, corporate deal-making was gaining traction.
French train maker Alstom ALSO.PA sold its North American conventional rail signalling
business to Knorr-Bremse KBX.DE , raising around 630 million euros ($671.64 million).
In the UK, door supplier Tyman TYMN.L said it agreed to be taken over by Quanex Building
Products NX.N in a deal that values the British firm at about 788 million pounds ($975.54
million).
Swedish gaming group Embracer EMBRACb.ST said it plans to split into three separate listed
companies, and that it has secured new financing that it will use to cut debt.
Banks will be another focus this week with Lloyds LLOY.L kicking off the reporting season
for the sector on Wednesday, followed by BNP BNPP.PA , Deutsche Bank DBKGn.DE and Barclays
BARC.L the following day.
Finally, eyes on autos after Tesla TSLA.O cut prices in major markets including Germany,
as it grapples with falling sales and an intensifying price war for electric vehicles. Frankfurt
listed shares in Tesla, which also reports this week, fell 2%.
(Danilo Masoni)
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FOR MONDAY'S OTHER LIVE MARKETS POSTS:
RELIEF RALLY FOLLOWS WEEK TO FORGET CLICK HERE
($1 = 0.9380 euros)
($1 = 0.8078 pounds)