STOXX in positive territory as real estate and oil jump
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STOXX IN POSITIVE TERRITORY AS REAL ESTATE AND OIL JUMP
The STOXX 600 .STOXX is up 0.2% this morning, driven higher by real estate and oil stocks while a drop in the media sector and aerospace and defence keeps those gains capped.
Falling shipping stocks are also in focus - A.P. Moeller-Maersk MAERSKb.CO fell 7.7% to the bottom of the STOXX 600- after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected. Hapag-Lloyd HLAG.DE fell 12.4%.
Denmark's DSV DSV.CO bucked the trend, rising 6.3% to the top of the index after it carried out a $5.5 billion capital increase at no discount and narrowed its guidance.
Academic research publisher Springer Nature SPGG.DE traded higher in its Frankfurt debut on Friday, opening 6.7% above IPO pricing at 24 euros per share.
It outperformed a basket of media names .SXMP which was down 0.5%, today's worst off sector. Real estate is the best performing, up 1.1%. .SX86P Oil stocks .SXEP are not far off, rising 0.8% as crude oil prices climbed on concerns over a deeper conflict in the Middle East.
Elsewhere, Volvo Cars VOLCARb.ST shares spiked in morning trade and were last up 2.9% after the Swedish government said the company may get an individual tariff on EU EV import tariffs.
(Lucy Raitano)
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FOR FRIDAY'S OTHER LIVE MARKETS POSTS
EUROPE MARKETS HEAD FOR MIXED START; MIDDLE EAST IN FOCUS CLICK HERE
MIDDLE EAST TENSIONS DRIVE OIL PRICES CLICK HERE
Oil price wary amid prospects of war escalation https://reut.rs/3zM4k0O
Rising unemployment, rising risk https://reut.rs/4dvNtxQ
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