{"id":113579,"date":"2021-05-05T09:08:41","date_gmt":"2021-05-05T09:08:41","guid":{"rendered":"https:\/\/fin2me.com\/?p=113579"},"modified":"2021-05-05T09:08:41","modified_gmt":"2021-05-05T09:08:41","slug":"european-stocks-bounce-as-earnings-data-spur-recovery-hopes","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/european-stocks-bounce-as-earnings-data-spur-recovery-hopes\/","title":{"rendered":"European stocks bounce as earnings, data spur recovery hopes"},"content":{"rendered":"

(Reuters) – European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks, while optimism about a strong earnings season and a speedy economic recovery dominated the markets.<\/p>

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 4, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 index rose 1.3%, wiping out almost all of its 1.4% loss on Tuesday, with the German DAX jumping 1.3% and UK\u2019s FTSE 100 gaining 1.1%.<\/p>\n

Big UK miners, including Rio Tinto, BHP Group and Anglo American, rose about 3% each as copper prices rose past a key psychological level of $10,000 a tonne, buoyed by optimism about a speedy recovery in the global economy. [MET\/L]<\/p>\n

Euro zone business activity accelerated in April as the bloc\u2019s dominant services industry shrugged off renewed lockdowns and returned to growth, a survey showed.<\/p>\n

European tech stocks rose 1.8% after a 3.7% plunge in the previous session.<\/p>\n

Wall Street\u2019s tech-heavy Nasdaq tumbled on Tuesday as investors pulled out of fast-growing companies such as Apple and Amazon amid concerns over rising interest rate and uncertainty over an upcoming jobs report. [.N]<\/p>\n

\u201cYesterday\u2019s sell-off in equities is a reminder that valuations in markets are tight,\u201d Unicredit analysts said in a note. They, however, pointed out that earnings season continued to be supportive of risk appetite.<\/p>\n

German logistics company Deutsche Post rose 2.6% on raising its operating profit forecast for 2021, while Danish shipping company Maersk was up 3.4% after it said it was expecting an \u201cexceptionally strong\u201d performance in the first quarter to continue for the rest of the year.<\/p>\n

European earnings are now expected to surge 83.1% in the first quarter, according to Refinitiv IBES data, up from last week\u2019s forecast of 71.3% growth.<\/p>\n

Stellantis rallied 2.7% after the carmaker reported better-than-expected quarterly revenue but warned that a global shortage of semiconductors would affect production this quarter more heavily.<\/p>\n

Auto stocks lagged their cyclical counterparts, rising only 0.3%, as Daimler slipped after Japan\u2019s Nissan Motor said it was selling its roughly 1.5% stake in the German carmaker.<\/p>\n

German fashion house Hugo Boss rose 4.2% as it saw first-quarter sales almost double in mainland China, and its casual business returned to growth.<\/p>\n

Delivery Hero fell 3.8% as former owners of Woowa Brothers sold shares worth about 1.25 billion euros ($1.5 billion) in the online takeaway food company.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks, while […]<\/p>\n","protected":false},"author":3,"featured_media":113578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nEuropean stocks bounce as earnings, data spur recovery hopes - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/european-stocks-bounce-as-earnings-data-spur-recovery-hopes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European stocks bounce as earnings, data spur recovery hopes - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks, while [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/european-stocks-bounce-as-earnings-data-spur-recovery-hopes\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-05T09:08:41+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/05\/European-stocks-bounce-as-earnings-data-spur-recovery-hopes.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/european-stocks-bounce-as-earnings-data-spur-recovery-hopes\/\",\"url\":\"https:\/\/fin2me.com\/markets\/european-stocks-bounce-as-earnings-data-spur-recovery-hopes\/\",\"name\":\"European stocks bounce as earnings, data spur recovery hopes - 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