Europe: Shares rebound from China hit
[LONDON] European shares bounced back in early trade on Thursday after a late rally on Wall Street and gains in Asia, following efforts by China's central bank to slow the sharp descent of the yuan that has rocked global markets.
The pan-European FTSEurofirst 300 index was up 1.5 per cent, with national benchmark euro zone indexes broadly in line with that rise at 0710 GMT.
Automakers and luxury goods stocks, among the worst hit this week, staged a rebound. Better-than-expected quarterly profits for Moller Maersk and a positive earnings outlook from TUI helped those stocks outperform. "In Europe...autos will inevitably stand out," said Nick Lawson, Deutsche Bank Managing Director, in a note to clients."How much juice there will be after the opening prints is another question."
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling