Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

European Stocks Mostly Higher; SocGen Leads Busy Earnings Day

Stock MarketsFeb 10, 2021 04:08AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Peter Nurse - European stock markets traded modestly higher Wednesday, with investors digesting a bundle of corporate news on a busy earnings day.

At 4:10 AM ET (0910 GMT), the DAX in Germany traded 0.1% lower, while the U.K.’s FTSE 100 index climbed 0.1% and the CAC 40 in France rose 0.1%.

Helping the tone of European stock markets of late has been a solid earnings season, and Wednesday saw a number of companies releasing results.

Societe Generale (OTC:SCGLY) stock rose 2.9% after the French banking giant saw a “significant improvement” in its business during the second half of 2020, after heavy losses on equity derivatives earlier in the year.

Thyssenkrupp (DE:TKAG) stock rose 4.6% after the German conglomerate raised its full-year outlook for sales, cash flow and profits, citing improved demand for automotive components and materials.

Adyen (AS:ADYEN) stock soared 9.8%, to an all-time high, after the Dutch company known for handling payment processing for Facebook (NASDAQ:FB) and other large online firms, beat expectations, helped by growth in the Americas.

On the flip side, Heineken (OTC:HEINY) stock fell 2.1% after the Dutch brewer said it was cutting around 8,000 jobs following a review of its operations launched in October.

Maersk (CSE:MAERSKb) stock dropped 7.6% after the world’s largest container shipping line offered a disappointing outlook, saying it sees signs freight rates are close to peaking.

Earlier Wednesday, China's factory gate prices rose in annual terms in January for the first time in a year, according to data released earlier Wednesday, pointing to strong manufacturing growth in the world's second-largest economy.

However, this positive news was tempered by Chinese consumer prices falling back into deflation as virus restrictions curbed travel and spending.

Back in Europe, German consumer prices were confirmed climbing 0.8% in January, a gain of 1.0% on the year, having slipped into negative territory late in 2020 due to the government's temporary VAT cut, which has now expired.

Stock markets have climbed strongly in the last few months on expectations of a global economic recovery on the back of vast fiscal and monetary spending coupled with vaccination programs to the end of the coronavirus pandemic.

Italian stocks remained near 12-month highs on Tuesday after Silvio Berlusconi said his Forza Italia party will back the new government of Mario Draghi, bringing him closer to commanding a solid majority in the Chamber of Deputies.

Oil prices edged higher Wednesday, helped by a further drop in  U.S. crude stocks. The American Petroleum Institute reported late Tuesday an unexpected fall in inventories last week. Supply data from the Energy Information Administration, due later in the day, will now be studied carefully.

U.S. crude futures traded 0.4% higher at $58.61 a barrel, while the international benchmark Brent contract rose 0.3% to $61.42. 

Elsewhere, gold futures rose 0.4% to $1,845.30/oz, while EUR/USD traded 0.1% higher at 1.2131.




European Stocks Mostly Higher; SocGen Leads Busy Earnings Day

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
michael engel
michael engel Feb 10, 2021 6:09AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
1) Small businesses are dying, but IWM is flying. 2) IWM spikes are wild and out of control, like a system control with a positive feedback loop, before breaking down. 3) IWM was a pile of junk between June a Nov last year, but it jumped to a resistance zone coming from Dec 2016 jump, four years ago.
Odi Bas
Odi Bas Feb 10, 2021 4:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Adyen 9,8% 😮
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email