(ABM FN-Dow Jones) European stocks will open higher on Thursday. IG forecasts an opening gain of 37 points for the German DAX, a plus of 24 points for the French CAC 40 and an increase of 8 points for the British FTSE 100.
The European stock markets also closed higher on Wednesday, after the small recovery on Tuesday and the price boom at the start of the week.
European stock markets rose on Wednesday, with the focus on quarterly figures and the rising number of corona infections worldwide. Travel, leisure and retail companies in particular performed strongly on Wednesday.
“The market is facing a real test: whether the link between the number of corona infections and hospital admissions has been broken,” said market analyst Peter van der Welle of Robeco. Nevertheless, Van der Welle expects that the second phase of the reopening of the economy, in which bond yields, economically sensitive stocks and commodities all rose, will start as soon as there is more clarity about the delta variant.
On a macroeconomic level, no publications were scheduled in Europe on Wednesday.
International Consolidated Airlines Group, the parent company of British Airways, rose 5.5 percent, EasyJet gained 4.3 percent and cruise line Carnival was 9.9 percent higher. Air France-KLM became 2.9 percent more expensive and Lufthansa gained 1.9 percent.
Next gained 8.1 percent after the British retailer raised its full-year profit forecast and announced a special dividend.
SAP also raised its outlook for this year, despite declining revenue and operating profit in the second quarter. The share nevertheless lost 2.5 percent in Frankfurt. This made it virtually the only fall on the German stock market. The leader was Deutsche Bank with a price gain of 4.3 percent.
Daimler saw its second-quarter results well ahead of market expectations, as it noted in an interim update last week. The stock rose 1.0 percent.
In the second quarter of this year, Novartis has seen sales increase and profits increase as well. The outlook for 2021 was maintained, with Novartis continuing to expect revenue growth of up to 5 percent. The stock ended 0.6 percent lower.
ASML in Amsterdam stood out after well-received quarterly figures. Analysts noted that ASML’s presentation shows a lot of confidence. The stock rose 3.1 percent.
Euro STOXX 50 4,026.68 (+1.8%)
STOXX Europe 600 453,97 (+1,7%)
DAX 15.422,50 (+1,4%)
CAC 40 6,464.48 (+1.9%)
FTSE 100 6,998.28 (+ 1.7%)
SMI 12,021.58 (+ 0.6%)
AEX 733,74 (+1,6%)
BEL 20 4,200.05 (+ 2.0%)
FTSE MIB 24.675,61 (+2,4%)
IBEX 35 8.567,00 (+2,5%)
Wall Street opens more or less flat on Thursday, according to US futures.
US stocks closed higher on Wednesday.
The US stock markets thus followed up on the price gains a day earlier, after the stock markets took a major hit on Monday due to concerns about the spread of the delta variant of the corona virus.
Investors are thus brushing off their concerns about the economic effects of the delta variant, although markets are expected to remain nervous in the run-up to the summer holiday peak. The market is supported by a strong start to the earnings season. Of the 60 S&P 500 funds that have released their quarterly earnings so far, 85 percent have exceeded analyst expectations.
Analysts linked Tuesday’s recovery to view that Monday’s sell-off was exaggerated. “While it is very difficult to predict the course of the pandemic, we do not currently expect the spread of the delta variant to pose a major threat to economic recovery, at least in the developed world,” said Capital’s economist Bethany Beckett. economics.
On a macroeconomic level, it was announced on Wednesday that the number of mortgage applications in the United States fell by 4.0 percent last week. The market index fell from 727.5 to 698.3.
September crude oil futures closed 4.6 percent, or $3.10, higher on the New York Mercantile Exchange at $70.30 on Wednesday, although the latest data from the U.S. energy agency EIA showed crude inventories in the United States last week, after nine consecutive weeks of declines.
On a macroeconomic level, four publications are on the agenda in the United States on Thursday. Weekly support requests and the June Chicago activity index will be released before the stock market, followed by existing home sales and leading indicators later in the day.
Coca-Cola saw both turnover and profit rise sharply in the second quarter and was more positive about the whole of 2021. Coca-Cola is now counting on organic turnover growth of 12 to 14 percent for this year. Earnings per share will grow by 13 to 15 percent on a like-for-like basis. The stock rose about 1.3 percent.
Johnson & Johnson saw profits come in higher than expected in the second quarter of 2021 and then raised the annual outlook again. Where in April a turnover growth of 9.7 to 10.9 percent was still expected, this is now 10.5 to 11.5 percent. The stock gained 0.5 percent.
Verizon also performed better than expected in the second quarter of 2021 and revised its outlook upwards. The stock was up about 0.8 percent.
Unlike last year, Harley-Davidson has written black numbers again in the second quarter of 2021 and therefore also performed better than expected. The outlook for 2021 was reiterated by the manufacturer. The stock fell nearly 7.0 percent.
On Tuesday evening after the closing bell in New York, Netflix already came up with numbers. Last quarter there were far fewer new subscribers than in the first months of this year. Netflix expects the second half of the year to improve. For the third quarter, the streaming service expects 3.5 million new subscribers with revenues of $4.78 billion. However, analysts are targeting 5.5 million new subscribers. The stock lost about 3.9 percent.
S&P 500 index 4.358,69 (+0,8%)
Dow Jones index 34.798,00 (+0,8%)
Nasdaq Composite 14.631,95 (+0,9%)
Asian stocks were higher on Thursday.
Nikkei 225 27,548.00 (closing position July 21)
Shanghai Composite 3.574,30 (+0,3%)
Hang Seng 27,705.25 (+ 1.8%)
The euro/dollar traded at 1.1797. When the US markets closed on Wednesday, the currency pair still moved at 1.1803 and at the close of the European markets there was still a position of 1.1800 on the plates.
USD/JPY Yen 110,13
EUR/USD Euro 1,1797
EUR/JPY Yen 129,93
00:00 Japanese stock market closed
00:00 Prices existing owner-occupied homes – June (NL)
06:30 Consumer confidence – July (NL)
06:30 Household consumption – June (NL)
06:30 Unemployment – June (NL)
08:45 Business confidence – July (Fra)
11:00 Consumer Confidence – July (Call)
13:45 European Central Bank – Interest rate decision (eur)
14:30 European Central Bank – Explanation of interest rate decision (eur)
14:30 Support Requests – Weekly (US)
14:30 Chicago activiteitsindex – Juni (VS)
16:00 Existing Home Sales – June (US)
16:00 Leading Indicators – June (US)
00:00 TechnipFMC – Second quarter figures (Fra)
07:00 Roche – Second quarter figures (Zwi)
08:00 Unilever – Half Year Results (UK)
13:00 Abbott Laboratories – US Q2 Figures
13:00 American Airlines – US Q2 Figures
13:00 AT&T – US Q2 Figures
13:00 Dow Inc – US Q2 Figures
13:00 Nucor – Second Quarter Figures (US)
22:00 Twitter – Q2 figures (US)
22:00 Intel – Q2 Figures (US)
ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.
From Beursplein 5, the editors of ABM Financial News keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.