Al-Wazir inaugurates glass factory, lays foundation stone for new appliance plant at Elaraby Group    New expansion projects, public-private partnerships to modernize, localise industry: El-Shimy    A blaze that exposed Egypt's fragile digital backbone    Al-Sisi attends high-level African summit to strengthen continental coordination, regional integration    Egypt, Mexico discuss environmental cooperation, combating desertification    Egypt launches anti-drug awareness campaign for drivers    Germany faces recruitment hurdles in push to rearm, eyes conscription    HDB expands national footprint with 'Acacia' branch in New Cairo    Lavrov warns against anti-Russia alliances in Asia during North Korea visit    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    S. Korea's c. bank holds base rate at 2.50%    Egypt's annual core CPI inflation eases to 11.4% in June: CBE    Egypt's EDA, Haleon discuss local market support    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    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    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    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 inch higher on earnings; ECB meeting in focus
Published in Amwal Al Ghad on 20 - 07 - 2017

Bourses in Europe were higher during Thursday early trade, backed by a rise in global stocks, as investors awaited a rate decision by the European Central Bank (ECB).
The pan-European Stoxx 600 edged up 0.33 percent during early morning deals with major bourses in positive territory.
Almost all sectors were trading above the flatline shortly after the open with several companies reporting earnings for the second quarter of the year. Finnish ship technology and power plant maker Wartsila surged to the top of the benchmark in morning trade after better-than-expected earnings. The firm said it surpassed analyst's projections on improving market demand for its marine solution business. Its shares were almost 7 percent higher on the news.
Meantime, Swiss engineering firm ABB reported a weaker-than-anticipated increase in quarterly net profits on Thursday amid overcapacity problems and higher raw materials prices. Its shares slipped over 2.5 percent.
Unilever reported marginally weaker-than-expected quarterly sales on Thursday, as the firm looked to recover from the fallout of a spurned $143 billion takeover bid earlier this year. Its shares moved almost 1 percent higher.
Price comparison platform Moneysupermarket slumped to the bottom of the benchmark on Thursday after it reported earnings for the first half of 2017. While the group posted a 3 percent rise in adjusted operating profit, Moneysupermarket warned investors it would likely be at the lower end of market consensus by year-end due to current trends in energy trading. Its shares dipped more than 10 percent lower.
ECB meeting
The euro was steady at $1.1505 on Thursday morning, ahead of the ECB meeting later in the session. The single currency had spiked to 14-month highs this week on the back of apparently hawkish comments by ECB President Mario Draghi.
The ECB is not expected to adjust interest rates on Thursday but it is projected to signal plans to slow down some of its asset purchases over the next few months.
Meanwhile, the second round of formal Brexit talks are set to continue on Thursday as negotiators from the EU and the U.K. meet in Brussels. Britain's Brexit Secretary David Davis is expected to speak at a press conference later in the session.
Earlier in the trading day, the Bank of Japan kept its monetary policy unchanged after its two-day meeting. However, the central bank slashed its inflation forecasts for fiscal years 2017/2018 and 2018/2019.
U.S. stocks closed at record highs on Wednesday as investors digested better-than-expected earnings.
Source: CNBC


Clic here to read the story from its source.