European benchmark indices opened slightly higher on Thursday
EUROPEAN SHARES
European benchmark indices opened slightly higher on Thursday, halting their recent bearish correction, as positive corporate earnings reports boosted market sentiment.
Investor appetite for risk grew following a batch of encouraging reports from companies in different region and from different sectors, including Deutsche Bank AG, STMicroelectronics NV, Banco Bilbao Vizcaya Argenta SA, Meta Platforms Inc and Microsoft.
This situation has brought a temporary change in market sentiment as many were pricing in far more negative announcements than revealed so far. However, with major companies such as AstraZeneca PLC, Barclays PLC, and 13 others from the French CAC-40 index yet to release their Q1 earnings, it is uncertain whether the positive trend will continue.
Traders are also keeping an eye on crucial US GDP and initial jobless claims data, looming in the afternoon, to see how the Federal Reserve may adjust the pace of its monetary tightening.
The STOXX-50 index has its eyes towards the 4,365.0pts / 4,375.0pts resistance zone following its rebound over the 4,325.0pts area.
Pierre Veyret– Technical analyst, ActivTrades
European benchmark indices opened slightly higher on Thursday, halting their recent bearish correction, as positive corporate earnings reports boosted market sentiment.
Investor appetite for risk grew following a batch of encouraging reports from companies in different region and from different sectors, including Deutsche Bank AG, STMicroelectronics NV, Banco Bilbao Vizcaya Argenta SA, Meta Platforms Inc and Microsoft.
This situation has brought a temporary change in market sentiment as many were pricing in far more negative announcements than revealed so far. However, with major companies such as AstraZeneca PLC, Barclays PLC, and 13 others from the French CAC-40 index yet to release their Q1 earnings, it is uncertain whether the positive trend will continue.
Traders are also keeping an eye on crucial US GDP and initial jobless claims data, looming in the afternoon, to see how the Federal Reserve may adjust the pace of its monetary tightening.
The STOXX-50 index has its eyes towards the 4,365.0pts / 4,375.0pts resistance zone following its rebound over the 4,325.0pts area.
Pierre Veyret– Technical analyst, ActivTrades