Live Markets: FTSE 250's up for sale, autos lag

Tyman

22/04/2024 08:52

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      STOXX 600 up 0.3%
    

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      Geopolitical jitters ease
    

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      Autos lag
    

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      Wall St futures rise
    

  
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    FTSE 250'S UP FOR SALE, AUTOS LAG     
    Easing geopolitical jitters are helping equity markets bounce back after a battering last
week and in Europe this morning plus signs prevail.
    The FTSE 100  .FTSE  is back in the game to challenge its February 2023 record high, up more
than 1%, while M&A is dominating the cheaply valued FTSE 250  .FTMC , with a takeover battle
shaping up for Hipgnosis  SONG.L  and doors supplier Tyman  TYMN.L  agreeing to a U.S. takeover.
    On the region-wide STOXX 600  .FTSE , Galp  GALP.LS  is shining, up 20%, on news its Mopane
field off the coast of Namibia could contain at least 10 billion barrels of oil. 
    A down day for Milan's FTSE MIB  .FTMIB , off 1.1%, but that's due to investors cashing in
dividends on a number of top stocks including UniCredit  CRDI.MI  and Ferrari  RACE.MI .
    Among Europe's megacaps, ASML  ASML.AS  is finally bouncing back after a 12% three-day drop
following an order miss. 
    Autos  .SXAP , among the biggest sectoral gainers in Europe YTD, are a weak spot, down 1.5%.
News that Tesla  TSLA.O  is cutting prices in Germany doesn't seem to be helping. 
       
    (Danilo Masoni)
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