L’Oreal Gains Cap Third Week of Declines for European Stocks

The Stoxx Europe 600 Index was small changed by the close, aft earlier dropping arsenic overmuch arsenic 0.9%. The scale inactive fell much than 1% connected the week. 

Technology stocks slumped Friday, tracking a driblet successful US tech stocks aft a disappointing net study from Netflix Inc. European nutrient and beverage and telecom stocks outperformed. L’Oreal jumped aft the cosmetics maker’s like-for-like income bushed expectations, quelling worries implicit a slowdown successful the quality market.

Risk request was dampened earlier aft Israel launched a retaliatory onslaught connected Iran little than a week aft Tehran’s rocket and drone barrage, according to 2 US officials, but Iranian media appeared to downplay the incidental successful the hours that followed the archetypal reports. 

“The markets, arsenic they person done successful caller months, are reacting precise calmly and objectively regarding the existent hazard that an escalation successful the Middle East could importantly impact the satellite economy," said Roberto Scholtes, caput of strategy astatine Singular Bank. “Oil has not rebounded successful caller days, and its emergence successful erstwhile months is mostly owed to the spot of demand."  

A rally successful European stocks has faltered this period arsenic investors besides interest that the Federal Reserve could clasp involvement rates higher for longer. Focus is besides shifting to the first-quarter firm net season.

Among different idiosyncratic movers Friday, Royal Unibrew A/S shares soared aft the brewer reported preliminary nett gross and Ebit that came up of statement expectations.

For much connected equity markets:

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--With assistance from Sagarika Jaisinghani, Michael Msika, Tugce Ozsoy, Sonja Wind and Ellie Harmsworth.

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Published: 20 Apr 2024, 12:22 AM IST