European shares close at record high; Delivery Hero soars
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Delayed Fed cuts could also slow ECB, Wunsch says
Rheinmetall falls as Q1 profit and sales miss forecasts
Chemicals group Brenntag's shares slide as it lowers forecast
SocGen leads banks to new highs as Macron backs consolidation
Updated at 1600 GMT
By Ankika Biswas and Johann M Cherian
May 14 (Reuters) -European shares closed at a record high on Tuesday, with German's Delivery Hero notching its biggest jump on record on the sale of its Taiwan foodpanda business, while the outlook around interest rates also remained on the cards.
The pan-European STOXX 600 .STOXX inched up 0.18%, with the automobiles sector .SXAP leading sectoral gains with a 1.4% rise.
Delivery Hero DHER.DE soared 26.3%, after Uber UBER.N announced a $1.25 billion deal to take over its foodpanda business in Taiwan and buy new shares in the German firm.
Earlier in the session, the main index briefly spiked downwards following a stronger-than-expected U.S. producers inflation report.
After strong gains last week, investors are at bay for two days now as they wait for any hints on when the first rate cut out of the U.S. could come. While the European Central Bank has hinted at staying independent of the U.S. Federal Reserve on rate reductions, the outlook remains uncertain beyond June.
Belgian central bank chief Pierre Wunsch told German newspaper Handelsblatt that while ECB's first two interest rate cuts are a "no brainer", slower than expected policy easing in the U.S. could delay some of the European regulator's moves.
"The really big difference between the U.S. and Europe has been the relative resilience of the U.S. economy and especially household spending," said Jennifer McKeown, chief global economist at Capital Economices.
"This explains why interest rate cuts are likely to start a little later (in the U.S.), most likely in September."
Meanwhile, Swiss eye-care group Alcon ALCC.S advanced 7.5% to an all-time high after first-quarter earnings, while hearing aid maker Sonova Holding SOON.S climbed 6.7% after forecasting accelerating growth for 2024.
Banking stocks .SX7E rose over 1%, with Societe Generale SOGN.PA gaining 3.7% after French President Emmanuel Macron said in a TV interview that the European banking sector needs greater consolidation, even if that means a major French bank being bought by a European rival.
On the other hand, Rheinmetall RHMG.DE shed 2.7% after the German arms manufacturer missed expectations for first-quarter sales and profit, and was among the biggest losers on German's DAX .GDAXI, which was down 0.1% and underperforming among regional peers.
Bottoming the STOXX, chemicals distributor Brenntag BNRGn.DE dropped 8.2% after lowering its full-year earnings forecast.
The travel and leisure sector was the worst hit, with Flutter FLTRF.L dropping nearly 2% after the world's largest online betting company maintained its full-year outlook.
Among others, automobile giant Volkswagen VOWG_p.DE advanced 2.6%. A report showed the German automaker is exploring the sale of as much as $1.08 billion worth of stock in its heavy truck-making arm Traton SE 8TRA.DE.
Reporting by Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Eileen Soreng, Sherry Jacob-Phillips and Nick Zieminski
Asset collegati
Ultime news
Disclaimer: le entità di XM Group forniscono servizi di sola esecuzione e accesso al nostro servizio di trading online, che permette all'individuo di visualizzare e/o utilizzare i contenuti disponibili sul sito o attraverso di esso; non ha il proposito di modificare o espandere le proprie funzioni, né le modifica o espande. L'accesso e l'utilizzo sono sempre soggetti a: (i) Termini e condizioni; (ii) Avvertenza sui rischi e (iii) Disclaimer completo. Tali contenuti sono perciò forniti a scopo puramente informativo. Nello specifico, ti preghiamo di considerare che i contenuti del nostro servizio di trading online non rappresentano un sollecito né un'offerta ad operare sui mercati finanziari. Il trading su qualsiasi mercato finanziario comporta un notevole livello di rischio per il tuo capitale.
Tutto il materiale pubblicato sul nostro servizio di trading online è unicamente a scopo educativo e informativo, e non contiene (e non dovrebbe essere considerato come contenente) consigli e raccomandazioni di carattere finanziario, di trading o fiscale, né informazioni riguardanti i nostri prezzi di trading, offerte o solleciti riguardanti transazioni che possano coinvolgere strumenti finanziari, oppure promozioni finanziarie da te non richieste.
Tutti i contenuti di terze parti, oltre ai contenuti offerti da XM, siano essi opinioni, news, ricerca, analisi, prezzi, altre informazioni o link a siti di terzi presenti su questo sito, sono forniti "così com'è", e vanno considerati come commenti generali sui mercati; per questo motivo, non possono essere visti come consigli di investimento. Dato che tutti i contenuti sono intesi come ricerche di investimento, devi considerare e accettare che non sono stati preparati né creati seguendo i requisiti normativi pensati per promuovere l'indipendenza delle ricerche di investimento; per questo motivo, questi contenuti devono essere considerati come comunicazioni di marketing in base alle leggi e normative vigenti. Assicurati di avere letto e compreso pienamente la nostra Notifica sulla ricerca di investimento non indipendente e la nostra Informativa sul rischio riguardante le informazioni sopra citate; tali documenti sono consultabili qui.
