Euromarkets React Positively
The European indices move again according to the release of corporate results today, with Credit Suisse (SIX:CSGN) and Unilever (LONDON:ULVR) giving a boost to stop the two-day downward streak. The adoption of the second package of prerequisites for the start of negotiations by the Greek parliament also helped the markets.
The British FTSE 100 index was up by 0.31% at 6,688 points, the German DAX rose by 0.44% at 11,571 points and the French CAC 40 moved up by 0.42% at 5,104 points.
STOXX 600 index recorded profits of 0.32% at 401.55 points.
On the board, Credit Suisse recorded profits of 4.8% as it announced a net income of 1.1 billion Swiss francs in the second quarter compared with a loss of 700 million francs in the same period of 2014. Analysts were expecting it to post profits of 783 million francs.
Unilever is at + 2.8% as it also announced higher than expected earnings for the second quarter. The profit amounted to €2.49 billion.
Finally, Daimler increased by 2.1% after it announced that its operating profit in the second quarter rose by 54% and beat analysts' estimations. The performance of Mercedes-Benz in China gave a boost to the results.
Euro Flirts With $1.10 Level
Euro recovers today against the dollar and heads for the levels of $1.10, boosted from the adoption of the second package of prerequisites by the Greek parliament, a development that paves the way for a solution to the Greek problem.
In particular, at 09:03 GMT, euro moved with gains of 0.55% at $1.0990, while earlier in the morning it had reached the level of $1.1007.
According to analysts, the developments in the Greek issue so far smooth the intensity of the crisis, while the adoption of the prerequisites paves the way for the third support package for the Greek economy, which will prevent the risk of the country's exit from the Eurozone.