Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary


SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

European stocks mark best week in seven months

10/15/2021 | 12:03pm EST
German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks marked their best weekly performance in seven months on Friday, as a bright start to the earnings season helped ease investor concerns about higher inflation.

The pan-European STOXX 600 index rose 0.7% to close at a one-month high, ending the week with a 2.6% gain after a sharp rebound in risk appetite in the past two sessions.

Banks were the top boost to the index, up 1.8% after forecast-beating quarterly results from Wall Street's biggest lenders on an economic rebound and deals bonanza.

European banks recovered all their pandemic losses to trade at pre-pandemic levels on Friday, while U.S. banks have surged to record highs recently.

Retailers, oil & gas and travel all rose between 1.6% and 2%.

"A renewed focus on the bottom-up news has helped global equities over the last couple of sessions, and results from the U.S. banking sector delivered another significant boost to indices overnight," said Peel Hunt analyst Ian Williams.

Graphic: PE ratio of U.S. vs euro zone banks

European earnings kick into high gear in the next few weeks, with analysts expecting a near 47% jump in third-quarter profit for companies listed on STOXX 600, as per Refinitiv IBES data. Energy and industrial companies are forecast to provide the biggest boost to earnings performance.

Europe's inflation upswing is still seen as temporary and there are no signs yet that the recent surge is becoming embedded in wages, European Central Bank President Christine Lagarde said on Thursday.

Investors have fretted over rising inflation caused by a global energy crisis, supply-chain bottlenecks and labour shortages slowing a corporate profit rebound from the pandemic shock.

"Slowing China growth and global inflation concerns could bring headwinds to risk assets," Citi analyst Aaron Lui said in a note. "Global equities are likely to be under pressure in coming months."

UK-listed shares of Rio Tinto fell 1.4% after the Australian miner cut its 2021 iron ore shipments forecast, citing a tight labour market, while Swiss banking software firm Temenos tumbled 13.7% after its results.

German fashion retailer Hugo Boss climbed 1% after it raised its outlook for the current year after third-quarter earnings rebounded on the back of strong demand in Europe and the Americas.

French cloud computing services company OVHCloud rose 8.7% in its Paris stock market debut.

At the bottom of the STOXX 600 was Global education group Pearson, slumping 15% after it said enrolments at community colleges in the United States had been hit by a recent surge in COVID-19 cases.

(Reporting by Sruthi Shankar and Susan Mathew in Bengaluru; Editing by Sriraj Kalluvila, William Maclean)

By Sruthi Shankar

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EURO STOXX 50 -0.68% 4080.15 Delayed Quote.15.63%
HUGO BOSS AG 0.35% 51.32 Delayed Quote.87.39%
PEARSON PLC 2.29% 589.4 Delayed Quote.-13.43%
RIO TINTO PLC -3.07% 4576 Delayed Quote.-16.30%
All news about EURO STOXX 50
12/03EURO STOXX 50 Index Ends the Week 0.23% Lower at 4080.15 -- Data Talk
12/03European Bourses Mildly Lower Midday; Oil Shares Higher
12/02EURO STOXX 50 Index Ends 1.70% Lower at 4108.02 -- Data Talk
12/02EUROPE : European stocks fall as Omicron worries rattle investors
12/02GLOBAL MARKETS LIVE : Hermès, Walt Disney, Apple, Novartis, Square...
12/02European Bourses Tracking Lower Midday on Omicron Outlook
12/01Luxury goods groups Hermes, Richemont push UMG and Vodafone out of blue-chip Euro STOXX..
12/01EURO STOXX 50 Index Ends 2.86% Higher at 4179.15 -- Data Talk
12/01EUROPE : European shares rebound from Omicron-spurred rout
12/01European Bourses Rebounding Midday as Traders Bargain-Hunt
More news
News of the index components EURO STOXX 50
12/04Deutsche Post CEO could become Deutsche Telekom chairman - report
12/04SAFRAN : Flynas and CFM Finalize RPFH Agreement for LEAP-1A engines
12/04Saudi airline Flynas signs agreement worth $4 bln with CFM - statement
12/04Saudi Arabian Airlines signs deal with CFM International worth $8.5 bln - statement
12/04SAFRAN : Saudi Arabian Airlines Corporation and CFM sign LEAP-1A Engine Purchase and Multi..
12/04Saudi SAMI signs agreement with Airbus to form a joint venture
12/03Mexican airline Interjet plans to restart in 2022 with 10 airplanes
More news
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
Top / Flop EURO STOXX 50
ENGIE 12.976 Real-time Quote.1.06%
NOKIA OYJ 5.067 Delayed Quote.0.94%
VONOVIA SE 50.06 Delayed Quote.0.87%
TOTALENERGIES SE 42.335 Real-time Quote.0.74%
L'ORÉAL 400.9 Real-time Quote.0.69%
AIRBUS SE 98.55 Real-time Quote.-2.52%
ADIDAS AG 249.4 Delayed Quote.-2.60%
PROSUS N.V. 70.26 Real-time Quote.-2.82%
PHILIPS NV 30.195 Real-time Quote.-2.86%
SAFRAN 98.66 Real-time Quote.-3.41%
Heatmap :