{"id":133813,"date":"2021-07-29T17:40:58","date_gmt":"2021-07-29T17:40:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=133813"},"modified":"2021-07-29T17:40:58","modified_gmt":"2021-07-29T17:40:58","slug":"european-stocks-close-at-new-highs-on-earnings-lift","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/","title":{"rendered":"European stocks close at new highs on earnings lift"},"content":{"rendered":"

(Reuters) -European stocks hit all-time highs on Thursday after strong earnings from commodity majors, Airbus and a clutch of other companies, while data showing record high euro zone economic sentiment in July added to the positive mood.<\/p>

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 27, 2021. REUTERS\/Staff<\/figcaption>

The pan-European STOXX 600 index rose 0.5% to a closing high of 460.57 points.<\/p>\n

UK-listed Royal Dutch Shell gained 3.8% and France\u2019s TotalEnergies added 2.2% after both companies announced share buybacks as a surge in oil and gas prices boosted their earnings.<\/p>\n

Miners, already the best sectoral performers in 2021, jumped 2.4% after Anglo American boosted its shareholder payout to a record $4.1 billion. Rising silver and gold prices also boosted the sector. [GOL\/]<\/p>\n

Airbus edged 0.6% higher after the world\u2019s largest planemaker sharply raised its forecasts for full-year deliveries and earnings.<\/p>\n

Strong quarterly earnings and optimism around European reopening put the STOXX 600 on course for its sixth straight month of gains despite lingering concerns about inflation and China\u2019s regulatory crackdown.<\/p>\n

\u201cGlobally diversified stocks have recorded the strongest EPS beats, while consumer stocks with high emerging market exposure have recorded the weakest,\u201d said Milla Savova, investment strategist at BofA, said in a note.<\/p>\n

Savova, however, noted that mentions of inflation by STOXX 600 companies have risen by more than 400% over the past year, leaving them at an all-time high in absolute terms.<\/p>\n

Investors drew comfort from a supportive stance by central banks after Federal Reserve Chair Jerome Powell on Wednesday said the U.S. job market still had \u201csome ground to cover\u201d before it was time to start withdrawing economic support.<\/p>\n

Estimates from the European Commission showed sentiment in the 19-country single-currency bloc rose to 119.0 points in July, a record since data began to be collected in 1985.<\/p>\n

\u201cNever before has sentiment been so positive among eurozone businesses and consumers. This indicates that the economic rebound is in full swing,\u201d said Bert Colijn, senior economist, eurozone at ING.<\/p>\n

Finnish telecom equipment maker Nokia climbed 4.6% after it raised its full-year outlook as it benefits from a sharp turnaround in its business.<\/p>\n

Europe\u2019s largest carmaker Volkswagen hit a record high earlier as it lifted its profit margin target for the second time in less than three months.<\/p>\n

Close to 41% of the STOXX 600 companies have reported so far, and 67% of them have topped analysts\u2019 profit estimates, as per Refinitiv IBES data. Typically, 51% beat earnings forecast.<\/p>\n

Among decliners, Swiss bank Credit Suisse dropped 2.0% after reporting a near 80% fall in its second-quarter profit, hit by the fallout from the collapse of Archegos.[nL8N2P53T1]<\/p>\n

Food giant Nestle and brewer Anheuser-Busch InBev fell after their results.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -European stocks hit all-time highs on<\/p>\n","protected":false},"author":3,"featured_media":133812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nEuropean stocks close at new highs on earnings lift - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European stocks close at new highs on earnings lift - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) -European stocks hit all-time highs on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-29T17:40:58+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/European-stocks-close-at-new-highs-on-earnings-lift.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/\",\"name\":\"European stocks close at new highs on earnings lift - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-07-29T17:40:58+00:00\",\"dateModified\":\"2021-07-29T17:40:58+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/precoinnews.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"European stocks close at new highs on earnings lift\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"European stocks close at new highs on earnings lift - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/","og_locale":"en_US","og_type":"article","og_title":"European stocks close at new highs on earnings lift - Pre Coin News","og_description":"(Reuters) -European stocks hit all-time highs on","og_url":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/","og_site_name":"Pre Coin News","article_published_time":"2021-07-29T17:40:58+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/European-stocks-close-at-new-highs-on-earnings-lift.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/","url":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/","name":"European stocks close at new highs on earnings lift - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-07-29T17:40:58+00:00","dateModified":"2021-07-29T17:40:58+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/markets\/european-stocks-close-at-new-highs-on-earnings-lift\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/precoinnews.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"European stocks close at new highs on earnings lift"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/133813"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=133813"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/133813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/133812"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=133813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=133813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=133813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}