🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

European stocks steady after Tuesday's rout, Commerzbank shines

Published 12/05/2021, 08:31
Updated 12/05/2021, 08:36
© Reuters.
CBKG
-
DGE
-
STOXX
-
NPNJn
-
PRX
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
May 12 (Reuters) - European stocks inched higher on
Wednesday after their worst selloff this year as strong earnings
reports and signs of a speedy economic recovery offset concerns
about a rapid rise in prices.
The pan-European STOXX 600 index .STOXX rose 0.1% by 0713
GMT after falling by almost 2% on Tuesday as investors offloaded
riskier assets on worries that rising U.S. inflation could lead
to tighter monetary policy.
All eyes will be on U.S. consumer price data for April that
is due later in the day. Numbers for Germany and France were
largely in line with estimates.
European earnings are now expected to surge 90.2% in the
first quarter, as per Refinitiv IBES data, up from a forecast of
83.1% growth last week.
German lender Commerzbank CBKG.DE jumped 5.4% after it
beat expectations for first-quarter profit and raised its
revenue outlook. Spirits maker Diageo DGE.L rose 2.8% on restarting its
capital return program, while Amsterdam-based technology
investor Prosus NV PRX.AS gained 3% after plans to acquire up
to 45.4% of shares in its parent Naspers NPNJn.J .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.