STOXX 600 rises to 6-1/2 week high
STOXX 600 up 0.3%
Tech stocks eke out gains
Spirits makers surge
Wall St futures mixed
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
STOXX 600 RISES TO 6-1/2 WEEK HIGH
Europe's STOXX 600 .STOXX is up 0.3% on Thursday to its highest level since July 15, while other major bourses are also eking out gains.
Germany's DAX .GDAXI, France's CAC .FCHI and Britain's FTSE .FTSE are all higher by 0.1%-0.4%.
Technology stocks .SX8P are gaining as Europe's chip makers shrug off earnings from Nvidia NVDA.O which failed to hurdle a very high bar.
The AI behemoth grew its revenue by over 120% in the quarter, but even that wasn't enough for shareholders as the stock fell about 6% after market.
"Nvidia has grown to a point where there is little room for error," says Ben Barringer, technology and media analyst at Quilter Cheviot.
"While the share price has been knocked after hours, there remains little fundamentally wrong with Nvidia."
That might explain why European semis are taking Nvidia's results in their stride, with STMicro STMPA.PA, ASML ASML.AS and ASM International ASMI.AS up between 0.7%-1.3%.
Meanwhile, shares in European spirits makers surged after China's Commerce Ministry said it would not be imposing a provisional anti-dumping subsidy on brandy imported from the European Union. Remy Cointreau RCOP.PA and Pernod Ricard PERP.PA shares are both up around 8%, giving a lift to Europe's food and beverage sector .SX3P which rose to a 10-1/2 week high.
Here's your opening snapshot:
(Samuel Indyk)
*****
THURSDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN FUTURES STEADY AFTER NVIDIA RESULTS CLICK HERE
NVIDIA WATCH PARTY OVER, BACK TO INFLATION VIGILCLICK HERE
Historical investor reaction to Nvidia results https://reut.rs/3Xkoqbm
European equities rise, Wall St futures soft https://reut.rs/4dDD96Y
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
