European stocks hit new records
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European stocks climbed for the fifth consecutive session on Thursday to reach new records as investors sought satisfaction from that the US Federal Reserve signaling it did not intend to increase interest rates, as the Bank of England left its benchmark rate at a record low.
The Iseq dropped 0.7 percent as many of its most important stocks saw decreases. Cement Cement is the biggest part of the index lost 0.65 percent to EUR 42.83 and the Kerry food company Kerry was with a loss of 1.2 percent in EUR 115.10.
Banks were also in negative in the last week, having AIB down 2percent up to EUR 2.35 while Bank of Ireland dropped nearly 0.7 percent down to EUR 5.15. Paddy Power Owner Flutter Entertainment also dropped, and ended with a loss of 2.6 percent in EUR 147.60.
Ryanair is one of the winners however it was able to increase 0.6 percent to EUR 17.63 as Smurfit Kappa, the Packing group Smurfit Kappa gained 0.1 percent to reach EUR 45.52.
The FTSE 100 rallied as the sterling fell in the wake of the decision of the Bank of England to defy markets by keeping rates unchanged and large-sized energy stocks followed the price of crude as it rose. The British currency dropped 1.33 percent following the rate decision, which boosted businesses that earn dollars.
Export-oriented FTSE 100 index, which was at a flat level prior to the Bank’s announcement, ended with a gain of 0.5 percent. Major oil companies such as PA along with Royal Dutch Shell increased 1.2 percent , and 1.7 percent respectively, and the telecoms firm BT Group added 11 percent after it confirmed its outlook for the year and the following.
Banks dropped 3.3 percent, registering an all-time low for three weeks following Central bank’s announcement.
The FTSE 250 mid-cap index rose 1.6 percent, the highest session in three months, due to positive results from engineering company IMI and the electricity retailer Currys.
Sainsbury’s dropped 2.4 percent to the lowest point of blue-chip index, as supply chain uncertainty overcame a gain of 23% in profits for the first quarter.
Europe’s pan-European Stoxx 600 closed 0.4% higher after spending the bulk all day trading in positive territory, following the Fed in line with expectations, announced that it will begin cutting down on its monthly bond purchases starting in November, with a plan to stop the program next year.
The gains in the Stoxx 600 were led by an 2.3 percent increase in real estate shares following an offer for a takeover from Alstria Reit Office, the German real estate firm Alstria Reit Office from the Canadian investment company Brookfield.
Pharmaceutical manufacturer rock increased 0.5 percent after it bought its voting stake of almost one-third from competitor Novartis in exchange for 20.7 billion. Novartiswas on the rise by 2.4 percent.
The German Dax blue-chip index increased 0.4 percent to hit an all-time highest level after the strong performance of Deutsche Post led to a 3 percent rise in its stock.
From France Sociale Generale and Germany Commercial banks in Germany and France Societe Generale increased in the first quarter of 1 percentage and 1.5 percent and 1.5 percent, respectively, following banks that have reported optimistic quarterly results.
The S&P 500 as well as the Nasdaq reached record highs at the beginning of the session based on excellent earnings reports.
Dow Jones fell Dow Jones slipped from a historic high at the close on Wednesday, and was dragged lower by the major banks JPMorgan Chase and Goldman Sachs, that fell 1.7 percent and 2.6 percent, despite the steepening yield curve.
The actions by Qualcomm increased 11.4 percent after the chipmaker predicted better-than-expected revenues and earnings for the current quarter. The company that is his competitor Nvidia also increased its shares by 9.9 percent.
Electronic Arts and the Take-Two’s interactive programs have gained 2.9 percent and 2.3 percent, respectively, following raising their forecast for adjusted sales for 2021 due to an impressive gaming expansion.
This is where you are. with 1.5 percent to achieve new heights.
Merck increased 2.5 percent after the UK was the first nation to be the first in the world to approve the oral antiviral pill Covid-19 that was developed in conjunction together with Ridgeback Biotherapeutics. Moderna declined 18.4 percent following the announcement that the manufacturer of the vaccine reduced its forecast for sales in the full year for the Covid-19 vaccine. Additional news: Reuters