Solid Gold Berjangka | European Stocks Rise Ahead of ECB Rates Decision; Barclays Sinks

07:32 27 July in Economy, Market, SOLID GOLD BERJANGKA | SOLID GROUP

European stocks gained on a busy day of earnings reports and ahead of a decision from the region’s central bank, while traders increasingly bet that the Federal Reserve is close to the end of its tightening cycle. Barclays shares slumped after its second-quarter trading revenue fell 41%.

The Stoxx Europe 600 climbed 0.4% at 8:05 a.m. in London. Media and consumer stocks outperformed while mining and energy stocks were in the red. Nestle SA advanced, leading gains on the benchmark, after it inched up its revenue guidance.

Among a flood of companies which reported results, Roche Holding AG dipped after profit fell just short of estimates. Shell Plc shares declined after second-quarter profit fell from the highs seen last year offsetting its pledge of additional share buybacks and higher dividend.

Beyond the earnings rush, markets are digesting comments from Fed Chair Jerome Powell who signaled any further tightening would be data dependent. The central bank lifted borrowing costs again at their policy meeting on Wednesday for the 11th time since March 2022 to curb inflation.

Source : Bloomberg

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