(RTTNews) – European markets closed higher on Thursday as dovish comments from the Federal Reserve on interest rates and a series of positive earnings updates boosted confidence.
On Wednesday, the Fed noted that progress had been made toward maximum central bank approvals for jobs and value stability, Fed Chairman Jerome Powell noted that there was still “a long way to go on the labor market side. “
The pan-European Stoxx ended up 0. 46%. The BRITISH FTSE 100 rose 0. 88%, germany’s DAX 0. 45% and France’s CAC 0. 37%, while the Swiss SMI rose 0. 11%.
Among other markets in Europe, Austria, Czech Republic, Finland, Greece, Iceland, Ireland, Holland, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey closed higher, while Belgium and Denmark closed weak.
Shares of primary oil company Royal Dutch Shell rose nearly 4% after the corporate building raised its dividend and revealed its goal of buying back $2 billion in shares this year after announcing an increase in its quarterly earnings.
Compass Group, Relx, Rio Tinto, Prudential, Antofagasta, BAE Systems, BHP Group and Barclays Group also finished well up, while spirits maker Diageo closed at the top after posting a better-than-expected build in expanding net biological sales throughout the year.
BT Group fell more than 6% after the company’s first quarter fell short of expectations. Smith
Weir Group, Royal Mail, ITV, Smurfit Kappa Group, B
ArcelorMittal gained about 4% after the company raised its forecast for global metals demand after achieving its quarter since 2008.
Veolia, Carrefour, Capgemini, Faurecia and Valeo gain between 2 and 4%. Airbus reduced its initial earnings and ended higher. The aircraft manufacturer raised its forecasts for profits and aircraft delivery higher.
Orange closed with a fall of almost 4% after pronouncing a depreciation of 3,700 million euros in the price of its Spanish business.
Safran, Air Liquide, Unibail Rodamco and Sanofi also finished with a sharp drop. Accor ended the decline after posting an operating loss during the first part of the year.
In the Swiss market, Credit Suisse shares fell sharply after reporting a 78% drop in net revenue in the current quarter.
In economic terms, economic confidence in the dominance of the euro reached a record point in July thanks to emerging sentiment in the commercial sectors and, according to the effects of a survey by the European Commission.
The economic confidence index rose to 119. 0 from 117. 9 in June. This is the highest since records began in 1985 and also well above economists’ forecasts of 118. 5.
However, compared to previous months, the most recent improvement is much weaker, suggesting that the indicator is peaking, the EU said.
German inflation accelerated more than expected in July, in part due to the base effect, destatis’ flash knowledge revealed. Customer cost increases accelerated to 3. 8% in July from 2. 3% in June. Rate 3. 3% higher than economists’ forecasts.
Producer values in France rose at a faster pace in June, with the manufacturer’s value index emerging 7. 1% in a year, after 6. 7% in May, according to INSEE data. Compared to last month, values rose 1% in June. after an increase of 0. 4% in May.
In the UK, car production rose 22. 1% to 69,097 games in June, but overall it was the worst for the month of June since 1953, as global chip shortages continued to affect production, the Society of Engine Manufacturers and Traders, or SMMT, said. on Thursday.