Results, German growth lift European shares ahead of US inflation
London: European shares rose in early trading on Wednesday ahead of the release of crucial U.S. inflation data which could soothe, or inflame, fears of faster rate hikes which triggered a sharp correction in equity markets.
The pan-European STOXX 600 index was up 0.6 percent by 0825 GMT with most bourses and sectors in positive territory as a strong set of corporate results and robust economic growth in Germany lifted shares while traders awaited the U.S. numbers.
“Even a slightly higher number could set the cat among the pigeons given the late cycle stimulus the Trump Administration is pumping into the U.S. economy,” Greg McKenna, chief market strategist at CFD and FX provider AxiTrader, said.
Shares in food packaging group Huhtamaki led the pan-European index’s gainers, rising 9 percent after it released fourth quarter results.
In the banking sector, Credit Suisse was a clear leader, up 2.7 percent, after it posted a third straight annual loss which was smaller than expected.
French investment bank Natixis followed closely, gaining 2.1 percent after reporting an unexpected rise in quarterly net profit.
Its Gallic peer Credit Agricole, on the other hand, was down 1.9 percent after releasing its results.
Other French stocks were among the top performers with French retirement home operator Orpea up 6 percent and heading for its best day in more than 18 months after reporting a solid outlook.
Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said.
European Commission President Jean-Claude Juncker will not arrive in the United States for talks with U.S. President Donald Trump with a specific trade offer, the Commission said.
Kejriwal welcomed the SC's order that said there cannot be a "complete ban" on holding protests and sit-ins at places like Jantar Mantar and Boat Club.
Oilfield services provider Halliburton Co’s (HAL.N) quarterly revenue jumped 24 percent as higher oil prices encouraged U.S. oil and gas producers to put more rigs to work.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.