Europe is green, but is heading for a monthly loss of more than 1%
Europe began the green session to mitigate the slump recorded this month, with Beijing promising to boost the Chinese economy and promising investors to digest the strong results of the European “earnings season”, which marks the first quarter.
The Stokes 600, the European benchmark for excellence, is up 451.63 points, up 1.02%. Of the 20 industries that make up the index, the mining and technology sectors dictate gains. The index is on a downward trajectory of 1.2% at the end of April.
Among major market movements, Novo Nordisk shares stood out, rising 5.62% after revising its profit forecast for this year.
In the remaining European markets, the Spanish IBEX was up 0.57%, the German DAX and French CAC 40 were up 1.20% each, while the FTSE was up 0.49%. Amsterdam gets 1.68% and Milan 1.05%.
The Portuguese PSI recorded the most alarming gains, rising 0.31%, driven mainly by Mota-Engil, which climbed above 2% and was pressured by Jerónimo Martins, which fell by more than 1%.
European stock markets tumbled in April as investors digested the prospects of the central bank’s tight monetary policy, inflation and energy crisis.
In this scenario, the timing of the results mentioned in the first quarter sparked some appetite for risk, as some companies were able to exceed earnings estimates, despite various geopolitical and macroeconomic constraints.
“European stocks are trading positive in the last days of April, but this was not the case [no geral] It was a very difficult month and the tone was not very positive, “said Francesco Simon, chief of The Strategic Division of Santander Asset Management, citing Bloomberg.
“Investor Concerns [estão direcionadas para] New prisons in China and the Russian invasion of Ukraine “, the expert adds.
Spain’s largest asset manager is cautious about betting on European stocks as first-quarter gains will not continue in the coming months due to the possibility of an unexpected recession in the economy.
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