Live Markets: Real estate and utilities support the STOXX

Wihlborgs Fastigheter AB

10/07/2024 09:26

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      STOXX 600 up 0.2%
    

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      Real estate lead gains
    

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      Eyes on Powell, Thursday's US CPI
    

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      Wall Street futures edge up
    

  
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    REAL ESTATE AND UTILITIES SUPPORT THE STOXX
    European shares got off to a muted start on Wednesday with
traders awaiting for new direction after the recent turbulence
induced by concerns over political developments in France. 
    So while the CAC 40  .FCHI  in Paris kept flirting with last
month's lows, the broader region-wide STOXX 600  .STOXX  index
was also little changed, up around 0.2% by mid morning. 
    Sectoral movers were also lacking conviction, except perhaps
for rate-cut loving sectors such as real estate  .SX86P  and
utilities  .SX6P , which were up 1.2% and 0.6% respectively to
provide the biggest uplift to the STOXX.
    Swedish property firm Wihlborgs Fastigheter  WIHL.ST  hit
its highest since end-2021. In its first half earnings report,
the company said financial market sentiment has improved
significantly even as economic conditions have remained weak.
    
    (Danilo Masoni)
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    EARLIER ON LIVE MARKETS
    EUROPE TO STEADY AFTER FRENCH LED DROP, EYES ON GERMAN AUTOS
CLICK HERE
    TURNING THE CORNER IN THE INFLATION FIGHT CLICK HERE