European shares hit over 1-month high on earnings, Fed rate-cut hopes
Fixes typo in paragraph 10
French final June inflation confirmed at +2.5%
Ericsson jumps on Q2 profit and sales beat
Norwegian Air shares soar after Q2 EBIT beat
EMS Chemie slumps on H1 sales miss
STOXX 600 up 0.9%
By Shubham Batra and Shristi Achar A
July 12 (Reuters) -European shares advanced on Friday and logged their second consecutive weekly gains on upbeat earnings and global investor optimism about a September interest rate cut by the Federal Reserve.
The pan-European STOXX 600 index .STOXX closed up nearly 0.9%, while the euro zone blue-chip gauge .STOXX50E advanced 1.3%, both indexes hitting their highest levels in over a month on an intra-day basis.
Sweden's Addtech ADDTb.ST hit a record high and jumped 16% after the technical solutions firm said the outlook for the next quarters was favourable, while Ericsson ERICb.ST rose 4.3% after the Swedish telecom gear maker beat profit and sales forecasts on demand pick-up in North America.
Sweden's benchmark index .OMXSPI housing the stocks climbed 2.2%.
Norwegian Air NAS.OL surged 7.8% after reporting second-quarter core earnings above market expectations despite slightly lower demand impacting ticket prices.
"While a robust Q2 reporting season could provide further near-term support for STOXX 600 EPS (earnings per share) momentum, we expect this to give way to renewed downgrades as global growth momentum weakens in response to the lagged impact of monetary tightening and the fading of support seen last year from US fiscal stimulus," strategists at BofA Global Research said in a note.
The earnings season also kicked off in the United States with the big banks, including JPMorgan Chase JPM.N, Wells Fargo WFC.N and Citigroup C.N, reporting their second-quarter results.
France's CAC 40 .FCHI advanced 1.3% after a volatile week of elections, where leaders of the left-wing New Popular Front are currently discussing potential candidates for prime minister.
Meanwhile, consumer prices in France rose 2.5% year-on-year in June, confirming its preliminary reading, while German wholesale prices fell by 0.6% in June, compared with the same month last year.
Sentiment was also upbeat as investors remained firm on their bets of a September Fed rate cut after data on Thursday showed U.S. consumer prices unexpectedly fell, even as figures on Friday showed producer prices rose more than expected in June.
Among other stocks, EMS Chemie EMSN.S slipped 4.9% as the Swiss nylon manufacturer cut its 2024 sales guidance.
Axfood AXFO.ST dropped 9.0% to the bottom of the STOXX 600, as quarterly earnings were negatively impacted by costs associated, with operational disruptions and restructuring of logistics.
Aker BP AKRBP.OL, which is partly owned by BP BP.L, reported a lower-than-expected profit for the second quarter and lowered its full-year output outlook. Shares of the Norwegian oil company climbed 3%.
Reporting by Shubham Batra and Shristi Achar A in Bengaluru; Editing by Sohini Goswami, Rashmi Aich and Emelia Sithole-Matarise
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.
