LONDON – European markets were slightly higher on Wednesday morning, as investors monitored economic data and corporate earnings.
The pan-European Stoxx 600 rose 0.1% above the fixed line at the beginning of transactions, with technology stocks gaining 1.2%, while telecommunications fell 0.6%.
Shares in Europe received a slightly positive hangover from Asia-Pacific, where Chinese technology stocks listed in Hong Kong returned on Wednesday after 12 major companies signaled compliance with antitrust laws.
States, futures related to major indices were slightly changed in early premarket transactions, after the S&P 500 closed a new record. Investors in the state will look for some major revenue launches on Wednesday, following the reports of the banking giants JPMorgan, Goldman Sachs and Wells Fargo.
US health authorities on Tuesday recommended discontinuing Johnson & Johnson’s Covid-19 vaccine after six women under the age of 50 developed rare blood clots after vaccination. Johnson & Johnson has announced that it will delay the launch of the vaccine in Europe, while South Africa has also suspended its use.
Back in Europe, Credit Suisse told investors on Tuesday that its $ 2.3 billion loan was exposed to ongoing uncertainties over the supply chain financing firm Greensill Capital.
Andy Haldane, chief economist at the Bank of England Hawkish, will step down from his various roles at the central bank after the June monetary policy committee meeting, the bank announced on Tuesday.
In terms of earnings, French luxury goods group LVMH saw a sharp recovery in first-quarter earnings after the bell on Tuesday, supported by Chinese and American demand for Louis Vuitton handbags and Dior products. LVMH shares gained 2.7% in early transactions.
German software giant SAP slightly raised its revenue outlook for 2021 on Tuesday, after first-quarter earnings showed solid progress in cloud sales, sending 2.7% higher shares. The plastic company Compatriot Covestro also raised its profit prospects after improving margins, which saw its shares increase by 2%.
The British supermarket chain Tesco reported a drop in annual profit of 14.7% before the bell, although sales remained strong. Tesco shares fell 3.5% to the bottom of the Stoxx 600 in early trading.
Meanwhile, budget airline EasyJet said it expects a tax loss in the first half of the fiscal year before taxes, ranging from £ 690 million ($ 950.6 million) to £ 730 million, but projected an increase in flights at the end of May. EasyJet shares added 3.5%.
In the top of the European blue chip index, the Galapagos rose 4% after Barclays updated the Belgian pharmaceutical company’s stock to “overweight”.
In terms of data, euro area industrial production figures for February will be expected at 10am London time.
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