Europe on Wednesday as investors welcomed new stimulus from China to support the world's second-largest economy, on the back of strong earnings for Dutch suppliers to German software group SAP and semiconductor maker ASML Holdings. Stocks rose.
The People's Bank of China will require banks to hold reserves starting early next month as policymakers extend efforts to support an economy that grew at just over 5% last year, the lowest in 30 years. announced that it would reduce its cash holdings. A year of pandemics.
The pan-European Stoxx 600 index ended 1.2% higher, hitting a one-week high.
dublin
The Iseq All Share index rose 0.7% to 8,972.71. Bank stocks rise AIB Up 1.5% to 4.02 euros, bank of ireland It rose by 0.5% to 8.24 euros. PTSB It rose 2.4% to 1.69 euros.
Activity across the Dublin market was affected after Tuesday became the last day of trading in the city. flutter It will be listed on the market ahead of next Monday's delisting, when Paddy Power's parent company moves its main market to New York.
Cairn Homes fell 0.4% to 1.45 euros, taking a breather from the strong performance that saw the housebuilder's shares hit a four-year high on Tuesday.peer Glenbear properties It fell by 0.7%.
London
tallow oilThe Irish-founded explorer stood out among the gainers in London's FTSE 250 index, rising 10.7% on the company's outlook for strong cash flows over the next two years.
The export-heavy FTSE 100 index ended 0.6% higher, while the domestic FTSE 250 index rose 0.9%.
Industrial metal miners rose 2.6% due to the People's Bank of China's economic intervention.
miner antofagasta, glencore and anglo american rose 3%-5.3%, leading the rise in the FTSE 100.
Insurance companies based in Asia prudential Luxury retail rose 2.2% burberry The personal goods index rose 3.7% and rose 2.5% on expectations for a recovery in demand from China.
Precious metal mining companies are on the rise after securities firm Liberum raised its rating on precious metal mining companies, saying that if Donald Trump wins the US presidential election in November, gold stocks will shine this year amid global wars and trade tensions. The stock rose 4.7%.
Pest control companies bucking the trend Rentokil After BofA Global Research downgraded the stock, it fell 2.3%, making it the top decliner on the FTSE 100 index.
Europe
ASML Holding Shares soared 9.7% after beating fourth-quarter profit expectations and recording the highest order intake for the quarter. Amsterdam's AEX index rose 2.4%, hitting a two-year high.
shares of SAP Shares rose 7.6% to a record high after the company's 2023 operating profit beat analyst consensus and announced a 2024 restructuring plan that will affect 8,000 roles in the advancement of artificial intelligence. Recorded.
These two stocks led the rally in the European technology sector, pushing the index up 4.8% to its highest level this year. that's all Over 2 years.
Stock prices of luxury companies expanding into China LVMH, kering and Richemont It rose 1.9% from 1.3%.
Meanwhile, the survey showed that the downturn in business activity in the euro area eased in January, but the improved outlook for manufacturing was partially offset by a sharp decline in the euro area's main services industries.
The data comes ahead of the European Central Bank's policy decision on Thursday, which is widely expected to leave interest rates on hold at current levels.
new york
Wall Street rallied on Wednesday, with the benchmark S&P 500 index hitting an intraday high. Netflix Semiconductor stocks soared after crushing expectations for subscriber growth and strong earnings from ASML.
Riding on the optimism microsoft Its market value exceeded $3 trillion (2.75 billion euros) for the first time, reaching an all-time high.
mega cap etc. alphabet, Amazon.com and meta platform Rose.
chip stock Nvidia, Advanced Micro Devices and broadcom Sales rose after ASML Holding beat fourth-quarter profit expectations and posted record order intake for the quarter. – Additional coverage: Reuters