All articles tagged with #stoxx 600
European stocks edged higher as investors awaited the ECB's interest rate decision and US inflation data, with sectors like defense and banking showing gains amid geopolitical tensions and economic concerns, while companies like Kering and Covestro moved on specific corporate news.
European markets opened higher, with the Stoxx 600 index up 0.3%, led by gains in mining stocks and a rebound in Hong Kong stocks. Sanofi agreed to purchase the development project INBRX-101 from Inhibrx Inc for $2.2 billion. Barclays named European "conviction" stock ideas, while JPMorgan and Morgan Stanley shared bullish picks in China's internet sector. U.S. stock futures were little changed after the Dow Jones Industrial Average surpassed 38,000 for the first time.
European stocks closed slightly lower on Tuesday, with the Stoxx 600 index down 0.2% after reaching a 23-month high earlier in the session. Oil and gas stocks saw gains amidst Red Sea tensions, while technology stocks declined. Maersk shares rose 6% after the company suspended Red Sea shipping due to threats of Houthi attacks. Eurozone manufacturing activity continued to decline in December, suggesting a recession in Q3 of last year. In contrast, Asia-Pacific markets were mixed, with China's manufacturing PMI indicating further contraction and the need for policy support.
European markets surged to their highest levels since January 2022 as investors reacted positively to the U.S. Federal Reserve's signal of upcoming interest rate cuts. The pan-European Stoxx 600 index rose 1.7%, with mining stocks leading gains. Germany's DAX crossed the 17,000-point mark for the first time. The Swiss National Bank held interest rates steady at 1.75%. In other news, AMS-Osram, Vivendi, and EQT saw significant stock gains, while Citi highlighted investment opportunities in Argentine stocks following a currency devaluation. Jefferies expressed reservations about Novo Nordisk's stock, but other analysts remained bullish.