GOOD 2: Positive results push Europe’s STOXX 600 index near seven-week high


“A lot of it could be argued that it was because there were big downgrades in almost every market in the second quarter, so some disappointment was priced in,” said Ian Williams, economist and strategist at Peel Hunt. I can do it. “Investors now appear to be more equities-based on corporate updates amid concerns over growth, European gas supplies and central bank tightening to stem inflationary pressures.”

The Federal Reserve’s statement is scheduled for 1800 GMT, followed by Fed Chairman Jerome Powell’s press conference. The travel and leisure sector rose 3%, supported by positive comments from Wizz Air. Shares of low-cost carriers saw quarterly earnings more than quadruple and travel demand outstripped ticket prices. After supporting the rise, it rose 10.4%.

French payments firm Worldline rose 13.8% after a strong first half performance. Smurfit Kappa rose 5.5% after Europe’s largest paper packaging maker increased its core profit by 50% in the first half and raised its interim dividend. Minor Rio Tinto fell 0.7% after a decline in first-half profits, while Adidas fell 5.1% after cutting its 2022 profit target.

Story Highlights

  • UniCredit climbs 8.6% after raising his 2022 outlook, pushing ahead with planned share buybacks that had been put on hold, resulting in his MIB index in Italy rising 1.5% to outperform peers have become. Sentiment was also boosted by an upbeat outlook for Microsoft Corp and a strong boost in ad sales from Google parent Alphabet Inc last night.

  • STOXX 600 It will increase by 23.1% year-on-year. Of the 35% reported so far, nearly 60% exceed estimates. Russia has cut gas shipments to Europe amid further escalation of the energy dispute between Russia and the European Union. This makes it harder and more expensive for the block to fill up its storage in advance of the winter heating season. Another focus is the Fed’s rate hike plans, with the market widely expecting a rate hike of 75 basis points.