Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary
       EU0009658145

EURO STOXX 50

SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

European stocks rise on strong SAP, LVMH results

10/13/2021 | 12:10pm EST
FILE PHOTO: German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks rose on Wednesday as upbeat earnings forecast from German software group SAP and robust quarterly sales for French luxury goods maker LVMH helped soothe worries about inflation.

After some weakness at open, the pan-European STOXX 600 index hit two-week highs, and closed up 0.7%, as did the German DAX. France's CAC 40 rose 0.8%.

A decline in banks led to UK's FTSE 100 gaining only 0.2%, while lender heavy indices of Spain and Italy lagged. JPMorgan kicked off third quarter earnings in the United States with earnings trumping expectations, but its shares and the broader banking sector there fell. [.N][.L]

Europe's most valuable tech company SAP rose almost 4% after it raised its full-year outlook for a third time following a strong quarterly showing as more customers shift their IT operations to the cloud.

French luxury goods maker LVMH added 3.2% as sales at its fashion and leather goods division rose strongly in the third quarter but overall revenue growth in Asia and the United States eased after a stellar first-half performance.

Also helping sentiment was data that showed China's export growth unexpectedly accelerated in September.

Meanwhile, inflation data from the United States showed a solid rise in September, keeping the Federal Reserve on track to start tapering in November. U.S. federal funds futures priced in an interest rate hike by September, 2022 after the data.

"Inflation is the main factor capable of shifting stock markets in the upcoming months," said Alberto Matellán, chief economist at Spanish insurer MAPFRE Inversión.

"The recent rebound is due to external shocks... By responding to external shocks, the spike in inflation should be temporary and subside when these shocks do."

Worries about central banks exiting their pandemic-era stimulus, a global energy crunch and signs of elevated prices have all dampened the outlook for economic recovery, with the STOXX 600 cutting monthly gains to trade up about 1% after stumbling 3.4% in September.

Third-quarter profit for STOXX 600 companies is seen rising 46.7%, as per Refinitiv IBES data, after a 152.6% jump in the previous quarter, with energy and industrial companies driving the biggest gains.

Graphic: STOXX 600 earnings seen rising about 47% in third quarter

Apple Inc suppliers including STMicroelectronics and AMS slipped after Bloomberg reported that iPhone 13 production is likely to be slashed.

Britain's biggest housebuilder Barratt Developments added 6.3% after it said that forward sales for the past three months had risen above pre-pandemic levels.

(Reporting by Sruthi Shankar and Anisha Sircar in Bengaluru; Editing by Sriraj Kalluvila and Ed Osmond)

By Sruthi Shankar and Susan Mathew


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMS AG -2.12% 16.175 Delayed Quote.-14.64%
APPLE INC. -1.17% 161.84 Delayed Quote.24.18%
BARRATT DEVELOPMENTS PLC 1.10% 718.8 Delayed Quote.6.12%
EURO STOXX 50 -0.68% 4080.15 Delayed Quote.15.63%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.23% 685 Real-time Quote.34.08%
MAPFRE S.A. -1.32% 1.7915 Delayed Quote.12.46%
SAP SE 0.04% 114.16 Delayed Quote.6.47%
All news about EURO STOXX 50
12/03EURO STOXX 50 Index Ends the Week 0.23% Lower at 4080.15 -- Data Talk
DJ
12/03European Bourses Mildly Lower Midday; Oil Shares Higher
MT
12/02EURO STOXX 50 Index Ends 1.70% Lower at 4108.02 -- Data Talk
DJ
12/02EUROPE : European stocks fall as Omicron worries rattle investors
RE
12/02GLOBAL MARKETS LIVE : Hermès, Walt Disney, Apple, Novartis, Square...
12/02European Bourses Tracking Lower Midday on Omicron Outlook
MT
12/01Luxury goods groups Hermes, Richemont push UMG and Vodafone out of blue-chip Euro STOXX..
RE
12/01EURO STOXX 50 Index Ends 2.86% Higher at 4179.15 -- Data Talk
DJ
12/01EUROPE : European shares rebound from Omicron-spurred rout
RE
12/01European Bourses Rebounding Midday as Traders Bargain-Hunt
MT
More news
News of the index components EURO STOXX 50
12/04Deutsche Post CEO could become Deutsche Telekom chairman - report
RE
12/04SAFRAN : Flynas and CFM Finalize RPFH Agreement for LEAP-1A engines
PU
12/04Saudi airline Flynas signs agreement worth $4 bln with CFM - statement
RE
12/04Saudi Arabian Airlines signs deal with CFM International worth $8.5 bln - statement
RE
12/04SAFRAN : Saudi Arabian Airlines Corporation and CFM sign LEAP-1A Engine Purchase and Multi..
PU
12/04Saudi SAMI signs agreement with Airbus to form a joint venture
RE
12/03Mexican airline Interjet plans to restart in 2022 with 10 airplanes
RE
More news
Chart EURO STOXX 50
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
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 :