{"id":121102,"date":"2021-04-14T07:34:54","date_gmt":"2021-04-14T07:34:54","guid":{"rendered":"https:\/\/precoinnews.com\/?p=121102"},"modified":"2021-04-14T07:34:54","modified_gmt":"2021-04-14T07:34:54","slug":"european-markets-edge-higher-with-earnings-data-and-vaccines-on-the-radar","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/european-markets-edge-higher-with-earnings-data-and-vaccines-on-the-radar\/","title":{"rendered":"European markets edge higher with earnings, data and vaccines on the radar"},"content":{"rendered":"<ul>\n<li>French luxury goods group LVMH posted a sharp rebound in first-quarter earnings after the bell on Tuesday, bolstered by Chinese and American demand for Louis Vuitton handbags and Dior products.<\/li>\n<li>German software giant SAP slightly raised its 2021 revenue outlook on Tuesday after first-quarter earnings showed robust progress in cloud sales.<\/li>\n<li>U.S. health authorities on Tuesday recommended pausing distribution of Johnson &amp; Johnson&#x27;s Covid-19 vaccine after six women under the age of 50 developed rare blood clots after getting the inoculation. <\/li>\n<\/ul>\n<p>LONDON \u2014 European markets were slightly higher on Wednesday morning as investors monitor economic data and corporate earnings.<\/p>\n<table><\/table>\n<p>The pan-European Stoxx 600 inched 0.1% above the flatline in early trade, with tech stocks gaining 1.2% while telecoms slid 0.6%.<\/p>\n<p>Stocks in Europe received a mildly positive hangover from Asia-Pacific, where Chinese tech shares listed in Hong Kong bounced on Wednesday after 12 major companies signaled compliance with antitrust laws.<\/p>\n<p>Stateside, futures tied to the major indexes were little changed in early premarket trade after the S&amp;P 500 closed at a new record high. Investors stateside will be looking out for some major earnings releases on Wednesday, with banking giants JPMorgan, Goldman Sachs and Wells Fargo all due to report.<\/p>\n<p>U.S. health authorities on Tuesday recommended pausing the distribution of Johnson &amp; Johnson&#x27;s Covid-19 vaccine after six women under the age of 50 developed rare blood clots after getting the inoculation. Johnson &amp; Johnson announced that it would delay the vaccine&#x27;s rollout in Europe, while South Africa also suspended its use.<\/p>\n<p>Back in Europe, Credit Suisse told investors on Tuesday that $2.3 billion worth of its loans is exposed to ongoing uncertainties surrounding supply chain finance firm Greensill Capital.<\/p>\n<p>Hawkish Bank of England Chief Economist Andy Haldane will step down from his various roles with the central bank after its June Monetary Policy Committee meeting, the Bank announced Tuesday.<\/p>\n<p>On the earnings front, French luxury goods group LVMH posted a sharp rebound in first-quarter earnings after the bell on Tuesday, bolstered by Chinese and American demand for Louis Vuitton handbags and Dior products. LVMH shares gained 2.7% in early deals.<\/p>\n<p>German software giant SAP slightly raised its 2021 revenue outlook on Tuesday after first-quarter earnings showed robust progress in cloud sales, sending shares 2.7% higher. Compatriot plastics company Covestro also raised its profit outlook following improvement in margins, which saw its stock add 2%.<\/p>\n<p>British supermarket chain Tesco reported a 14.7% fall in annual profit before the bell, though sales remained resilient. Tesco shares slid 3.5% to the bottom of the Stoxx 600 in early trade.<\/p>\n<p>Meanwhile, budget airline EasyJet said it expects a fiscal first-half headline loss before tax of between \u00a3690 million ($950.6 million) and \u00a3730 million, but projected an uptick in flights from late May. EasyJet shares added 3.5%.<\/p>\n<p>At the top of the European blue chip index, Galapagos climbed 4% after Barclays upgraded the Belgian pharmaceutical company&#x27;s stock to &quot;overweight.&quot;<\/p>\n<p>On the data front, euro zone industrial production figures for February are due at 10 a.m. London time.<\/p>\n<p><em>Subscribe <\/em><em>to CNBC PRO<\/em><em> for exclusive insights and analysis, and live business day programming from around the world.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/04\/14\/europe-markets-earnings-economic-data-and-recovery-on-the-radar.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>French luxury goods group LVMH posted a<\/p>\n","protected":false},"author":3,"featured_media":121101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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