European stock markets opened higher on Thursday. Stock markets rose broadly in Asia and the United States after yesterday’s US inflation figures. The background of the positive market reaction was usually the slowing down of persistent core inflation from the previous month, contrary to expectations.
The STOXX Europe 600 index, which broadly describes the market, was up 0.6 percent on Thursday.
A Swiss who owns various watch and jewelry brands Richemontin turnover increased by ten percent to 6.2 billion euros in the three months before December, which clearly exceeded analysts’ forecasts. The company reported double-digit growth in all its other market areas, except for Asia, where sales fell seven percent. Richemont’s share was up 20 percent on Thursday.
Also luxury companies Christian Dior (+7,4 %), LVMH (+7.9%) and Hermes (+4.9%) were rapidly increasing.
In Britain, the gross domestic product grew by 0.1 percent in November, while the economists’ consensus forecast predicted 0.2 percent. Industrial production contracted by 1.2 percent from the previous year, while economists predicted a contraction of 0.5 percent. London’s FTSE 100 index was up 0.7 percent on Thursday.
In Germany, the final inflation figures for December were announced. Annual inflation was 2.6 percent, according to preliminary data. Instead, consumer prices rose by 0.5 percent from the previous month, while 0.4 percent had been announced in the preliminary data. Frankfurt’s DAX index was up 0.4 percent on Thursday
The Paris CAC40 index was up 1.5 percent.
Later on Thursday, the trade balance of the Eurozone for November will be published. Futures anticipate a bullish opening in the United States.
Source: www.arvopaperi.fi
