Indices in this article
PARIS / LONDON (dpa-AFX) – Europe’s stock exchanges are hardly moving at their current high level. On Wednesday, the most important indices recorded moderate increases: the leading index EuroStoxx 50 (EURO STOXX 50) gained 0.23 percent to 3976.21 points around noon. For the French CAC 40, the price tables showed an increase of 0.40 percent to 6208.66 points. The British FTSE 100 advanced 0.19 percent to 6903.59 points.
The shares of technology companies performed best in the middle of the week: their sub-index in the broad-based Stoxx Europe 600 rose by 1.3 percent. He was helped by positive impulses from the USA, where the Nasdaq technology exchange had developed significantly better the day before than the standard value indices. In contrast, the index of telecommunications companies led the list of losers with a minus of around half a percent.
Among the individual values, the shares of LVMH (LVMH Moet Hennessy Louis Vuitton) stood out in terms of sales figures with an increase of almost three percent to one of the top EuroStoxx places. The French luxury goods company recovered surprisingly strongly from the Corona crisis in the first quarter. Numerous analysts raised their price targets for the share and confirmed their buy recommendations. Competitor Christian Dior was also able to convince with its quarterly earnings: The titles won three and a half percent. In the wake of the two industry giants, the shares of Kering and Hermes rose by one and a half and over one percent, respectively.
According to preliminary business figures, the low-cost airline easyJet was able to look forward to a price increase of 3.3 percent. The Ryanair rival had almost completely evaporated the original flight schedule and suffered a 90 percent drop in sales because of the travel restrictions in the winter half-year, which Easyjet runs from October to the end of March. In addition, the pre-tax loss adjusted for special items rose sharply. Now the British are preparing for an early end to the lockdown measures, not only in their home market.
Meanwhile, Tesco papers lost almost three percent in value after the supermarket chain had reported a pre-tax loss of 20 percent for the past financial year.
Credit Suisse shares (Credit Suisse (CS)) fell 0.8 percent. According to media reports, the Swiss bank sold blocks of shares worth around two billion US dollars on Tuesday in the wake of the collapse of the hedge fund Archegos Capital. The Grobank has launched large blocks of shares in the US media company Discovery and the Chinese video platform Iqiyi, it said./gl/fba