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    6758   JP3435000009


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

European shares end slightly higher as Fed comes into focus

06/15/2021 | 04:03am EDT

* STOXX 600 at record closing high

* All eyes on Fed meeting starting Tuesday

* H&M slips on Q2 sales miss

June 15 (Reuters) - European shares rose for an eighth straight session on Tuesday, driven by optimism over an economic recovery this year, but gains were limited as investors hunkered down ahead of the Federal Reserve's two-day policy meeting.

The pan-European STOXX 600 ended 0.1% higher at a record closing high of 458.81 points, also marking its longest winning streak in more than two years.

Dovish signals from the European Central Bank on tightening policy have brightened the near-term outlook for risk-driven assets in the continent, along with continued hopes that a steady vaccination program will drive an economic recovery this year.

Focus this week will be on the U.S. Federal Reserve's two-day policy meeting starting Tuesday, where investors will be looking for insight on whether the central bank has begun discussing tapering bond purchases and if policymakers are concerned about rising inflation.

"We don't expect officials to rush into taking a decision now, (but) it would be interesting to see whether there will be a discussion around the matter, and if so, whether we will get any hints over a potential desired pace of withdrawal," said Charalambos Pissouros, a senior market analyst at JFD Group.

"A fast pace may suggest that Fed officials do not see the surge in inflation as transitory as they did in the past and may hurt equities."

Stronger-than-expected producer prices data in the United States raised some concerns that the Fed could signal tightening policy earlier than expected.

Germany's DAX ended just below all-time highs as data showed consumer prices rose 0.5% month-on-month in May, in line with economists' expectations.

Investors will also be looking for inflation data from across the euro zone later this week.

Insurance stocks were among the best performing sectors for the day, while basic resources stocks tumbled, tracking a drop in base metal prices.

Travel and leisure stocks sank more than 2% after UK Prime Minister Boris Johnson delayed his plans to lift most remaining COVID-19 restrictions in the country.

But London's FTSE 100 gained 0.4% as the UK posted a record jump in the number of employees on company payrolls in May as COVID-19 restrictions eased.

In company news, Sweden's H&M, the world's second-biggest fashion retailer, fell 2.9% after its second quarter sales missed expectations.

Polish game developer CD Projekt topped the STOXX 600 on hopes that its Cyberpunk 2077 game will be added back to Sony's Playstation store. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shailesh Kuber and Alistair Bell)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.21% 0.62102 Delayed Quote.-1.41%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.30% 0.7314 Delayed Quote.-4.58%
BRITISH POUND / EURO (GBP/EUR) -0.14% 1.17137 Delayed Quote.4.71%
BRITISH POUND / US DOLLAR (GBP/USD) -0.03% 1.37926 Delayed Quote.1.27%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.24% 0.79029 Delayed Quote.0.91%
CD PROJEKT S.A. 2.88% 196.36 End-of-day quote.-28.52%
DAX 0.56% 15746.36 Delayed Quote.14.09%
EURO / US DOLLAR (EUR/USD) 0.09% 1.17732 Delayed Quote.-3.23%
HENNES & MAURITZ AB 1.67% 175.54 Delayed Quote.0.28%
INDIAN RUPEE / EURO (INR/EUR) -0.02% 0.01156 Delayed Quote.2.75%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.12% 0.013611 Delayed Quote.-0.58%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.07% 0.7074 Delayed Quote.-0.67%
SONY GROUP CORPORATION 0.82% 12270 End-of-day quote.19.30%
US DOLLAR / EURO (USD/EUR) -0.08% 0.849387 Delayed Quote.3.34%
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Analyst Recommendations on SONY GROUP CORPORATION
More recommendations
Sales 2022 9 530 B 86 723 M 86 723 M
Net income 2022 752 B 6 843 M 6 843 M
Net Debt 2022 469 B 4 267 M 4 267 M
P/E ratio 2022 20,4x
Yield 2022 0,53%
Capitalization 15 197 B 139 B 138 B
EV / Sales 2022 1,64x
EV / Sales 2023 1,47x
Nbr of Employees 109 700
Free-Float 98,2%
Duration : Period :
Sony Group Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY GROUP CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 19
Last Close Price 12 270,00 JPY
Average target price 15 026,32 JPY
Spread / Average Target 22,5%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
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