European stock markets hit new highs for the third consecutive day, with the STOXX 600 reaching 660 points, boosted by a 21% increase in corporate earnings.
European stock markets hit new highs for the third consecutive day, with the STOXX 600 reaching 660 points, boosted by a 21% increase in corporate earnings and hopes for peace between the US and Iran.
On August 6, 2569 at 14.39:XNUMX a.m., Reuters reported that European stock markets climbed to record highs in Thursday's (August 6) trading. The market was boosted by hopes that negotiations between the US and Iran would lead to a peace agreement, as well as progress in reopening the Strait of Hormuz. Investors also closely monitored the earnings reports of listed companies.
The STOXX 600 index is a European stock index. The index rose 0.4% to 660 points after closing at its all-time high for the second consecutive day.
A high-ranking Iranian source and regional officials revealed to Reuters that... The proposed deal between Iran and Oman to end the five-month-long war would give Iran a significant role in controlling ships entering the Persian Gulf through the Strait of Hormuz, one of the largest concessions Iran has received since the conflict began.
Meanwhile, the earnings of listed companies remain a key factor supporting the market. Data from LSEG indicates that analysts have been consistently revising upward their earnings forecasts for companies in the STOXX 600 index. Most recently, they expect second-quarter earnings to grow by almost 21%, significantly higher than the approximately 12.5% forecast made at the beginning of May.
Deutsche Telekom shares jumped 5.5% after the company announced it would increase its share buyback program for 2569 by €3,000 billion, bringing the total to €5,000 billion. Meanwhile, the European telecommunications index rose 1.6%.
Shares of Glanbia, an Irish nutrition product manufacturer, jumped 8.4% after its first-half revenue grew 7% year-on-year, contributing to a 1% rise in the food and beverage sector index.
Although global technology stocks faced profit-taking pressure following gains driven by the AI trend, European technology stocks still edged up slightly by 0.1%.
Investors are also awaiting the release of next round of eurozone retail sales figures to assess the strength of consumer spending and the outlook for the European economy in the coming period.
refer : www.reuters.com
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