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European Equity Highs; Evergrande News, L’Oreal Results Helped by Investing.com

© Reuters.

Peter Nurse

Investing.com-European stock markets traded high on Friday. This was supported by alleviation of concerns surrounding the embarrassed real estate group China Ever Grande, and in particular the strong corporate profits of French cosmetics giant L’Oréal.

At 3:50 EST (0750 GMT), Germany was up 0.4%, France was up 0.8%, and the United Kingdom was up 0.3%.

China Ever Grande sent a $ 83.5 million coupon payment to Citibank’s trustee account on Thursday, according to a report from Reuters. .. twenty three.

It’s unclear how the money was raised and there are no signs of a comprehensive restructuring of $ 300 billion in debt, but the news reduces the imminent potential for transmission and raises the desire for global risk. I’m raising it.

Back in Europe Remy Cointreau Shares in (PA :) rose 1.3% after two French luxury retailers saw significant quarterly earnings growth, primarily benefiting from continued strong demand from Chinese consumers. , L’Oréal (PA :) shares surged 6%.

Essity ABB (ST :) Shares rose more than 5% after Swedish tissue makers reported higher-than-expected quarterly profits, thanks to heightened awareness of the importance of hygiene.

Conversely, Renault (PA :) Inventories fell 0.7% after a French car giant warned that 2021 production losses would be much higher than previously predicted due to a global shortage of semiconductor chips.

Evidence of the difficulties facing the semiconductor sector comes from late Thursday when US company Intel (NASDAQ :) issued a weaker than expected sales report due to a chip shortage across the industry due to lost revenue. came.

London Stock Exchange (LON :) Shares fell 3.7% after a slight increase in earnings in the third quarter as the exchange continued to attempt to integrate the data platform Refinitiv.

Economic data slate provides less impressive news, with the UK falling unexpectedly in September for the fifth straight month, dropping 0.2% a month, showing signs that the UK’s economic recovery is losing momentum. Added.

While EU leaders continue their summit in Brussels, the index of purchasing managers from most European consultancy IHS Markit has not yet come.

Crude oil prices fell on Friday and continued to sell in the previous session after Russian President Vladimir Putin showed that a group of top producers known as OPEC + could increase supply more than previously announced. ..

Nonetheless, these comments are from oil earlier this week since 2014, as utilities switched to diesel and fuel oil due to the global energy crisis triggered by coal and gas shortages in China, India and Europe. It was sent after recovering to the highest level of. This is in line with the broader economic recovery from the pandemic.

By 3:50 am ET, futures fell 0.1% to $ 82.42 a barrel, while contracts fell 0.1% to $ 84.53.

In addition, it rose 0.7% to $ 1,793.75 / ounce and rose 0.2% to 1.1645.



European Equity Highs; Evergrande News, L’Oreal Results Helped by Investing.com

Source link European Equity Highs; Evergrande News, L’Oreal Results Helped by Investing.com

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