(Bloomberg) – Stocks in Europe rose to a record high on Tuesday as positive earnings from some of the region’s largest corporations helped counter new considerations over China’s crackdown on the tech sector.
Energy stocks led gains on the Stoxx Europe 600 index after BP Plc followed its big oil peers in increasing dividends and percentage buybacks, while banks performed better after Societe Generale SA’s outlook took a step forward and Bank of Ireland Group Plc’s earnings returned.
Tech stocks were the biggest losers, with Prosus NV falling as much as 5. 7% after Chinese giant Tencent Holdings Ltd. it collapsed for fear that the government would turn to online entertainment. with the loss of profits of Infineon Technologies AG that adds to the concerns.
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Oil continued to fall as the virus and signs of a slower economic rebound from China hurt prospects for intake. The New Zealand dollar rose on policy-tightening bets. lockdown in Sydney.
The multi-month advance in Treasury spending for some commentators raises fears that a weaker era for economic reopening is possibly looming after the fitness crisis. about the value pressures triggered through pandemic-related disruptions and bottlenecks.
“I don’t think the market cares as much about the delta as its effect on inflation,” Shana Sissel, chief investment officer at Spotlight Asset Group, told Bloomberg Television, referring to the coronavirus variant. delta spread we have globally, more source chain disruptions will continue. “
At the political level, the debate over relief continues. Federal Reserve Governor Christopher Waller said he could announce a cut through September if the next two monthly U. S. employment reports come to a close. U. S. They show continuous gains.
Here are some key occasions to watch this week:
The Bank of England is expected to keep the benchmark interest rate and bond purchase target unchanged on Thursday Bank of India’s financial policy decision, reporting on Friday The US jobs report is expected to be unchanged on Thursday. U. S. Show a physically powerful month of hiring on Friday
For more market analysis, read our MLIV blog.
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The Stoxx Europe 600 rose 0. 3% at 8:49 a. m. , London time. Futures in the S
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Bloomberg Dollar Spot index fell 0. 2% The euro rose 0. 1% to $1. 1882 The Japanese yen rose 0. 1% to 109. 15 per dollar The offshore yuan little replaced to $6. 4623 per dollar Sterling rose 0. 2% to $1. 3915
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The yield on 10-year Treasuries slightly replaced by 1. 18%.
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Small spot Brent crude gold fell 0. 2% to $1,810. 40 an ounce
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