Environment ministry signs agreement to strengthen marine protection, promote ecotourism    Egypt, WHO discuss expanding health cooperation, development initiatives    Egypt, Sierra Leone discuss expanding cooperation in transport, infrastructure    Gaza under siege, fire: Resistance intensifies amid deepening humanitarian collapse    Chinese Premier Li Qiang arrives in Egypt for high-level talks    Service restoration underway after Cairo telecom fire, minister tells PM    Egypt's PM orders probe, pledges faster network upgrade after Ramsis Exchange blaze    Gold hits over 1-week low on stronger dollar    EGX closed mostly higher on July 9    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    Egypt, Pakistan boost healthcare ties – Cabinet    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt's FM, China's Wang discuss Iran-Israel escalation    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European stocks higher early Wednesday
Published in Amwal Al Ghad on 01 - 02 - 2017

Stock markets in Europe went higher this Wednesday as investors focus on corporate earnings.
The pan-European Stoxx 600 was 0.76 percent higher with most sectors trading positive.
Auto stocks were outperforming its peers, up by more than 1.5 percent in early trade, boosted by strong earnings. Truckmaker Volvo reported stronger-than-expected quarterly core earnings while also raising its forecast for European sales in 2017. Its shares were at the top of the European benchmark, up by more than 6 percent.
Banking stocks were also up by about 1.4 percent. The Swiss private bank Julius Baer was among the best performers in early trade, up by more than 4 percent, after reporting a 12 percent increase in its assets under management for 2016.
Cellnex Telecom was also at the top of the European benchmark after news that it reached a deal with the French Bouygues Telecom for the construction of 3000 sites in France. The deal amounts to 854 million euros ($921 million).
In other corporate earning reports, the Swiss health care firm Roche announced a 5 percent rise in its core operating profit for last year. The German engineering giant Siemens moved higher in early trade as well after it lifted its profit guidance and earnings.
Talk Talk, Repsol and BBVA are also all reporting their latest figures Wednesday.
Volkswagen agreed to pay at least $1.26 billion in compensations in the U.S. and could pay more than $4 billion if regulators don't approve fixes to cars, Reuters reported based on court documents.
In terms of data, the euro zone will receive the latest PMI manufacturing figures. According to Nationwide, U.K. house prices increased only slightly in January, adding that the outlook for the housing market remains uncertain.
Elsewhere, the European Central Bank will not demand Italian lender UniCredit to book more writedowns on its bad loans than those already scheduled, according to Reuters.
Meanwhile, the dollar was subdued after President Donald Trump accused Germany and Japan of devaluating their currencies to gain a trade advantage.
Source: CNBC


Clic here to read the story from its source.