Bulletin
Investor Alert

Europe Markets Archives | Email alerts

Feb. 9, 2022, 4:45 a.m. EST

Technology stocks lead European markets higher as bond yields continue to ease

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    STOXX Europe 600 Index (SXXP)
  • X
    DAX (DAX)
  • X
    CAC 40 Index (PX1)

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer

European stocks climbed on Wednesday, led by the technology sector as bond yields continue to ease up, while earnings rolled in from Akzo Nobel, Aegon and ABN Amro and more.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.91% rose 1.4% to 47, following a 0.7% gain on Tuesday. The German DAX /zigman2/quotes/210597999/delayed DX:DAX -2.04% rose 1.4%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.97% rose 1.5% and the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.27% was up 0.6%. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD -0.0982% and pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.0830% were little changed.

The bond market has been the center of action lately as investors weigh up possible interest-rate rises around the world. Perceived hawkish comments from European Central Bank President Christine Lagarde have driven up the euro in recent days. The 10-year German bund yield /zigman2/quotes/211347112/realtime BX:TMBMKDE-10Y +11.92% was down 3 basis points to 0.231%, while Italy’s 10-year bond /zigman2/quotes/211347230/realtime BX:TMBMKIT-10Y +5.04% fell 4 basis points to 1.79%.

The bigger focus this week will fall on U.S. consumer-price inflation for Thursday as a Federal Reserve meeting and expected interest-rate hike looms for March. U.S. stock futures /zigman2/quotes/210407078/delayed YM00 -0.04% /zigman2/quotes/209948968/delayed ES00 -0.09% /zigman2/quotes/210219788/delayed NQ00 -0.14% pointed to a higher open for Wall Street as the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -0.88% yield also fell.

Data from Germany showed a rise in exports for December, but at slower pace than imports, statistics office Destatis said Wednesday.

Interest-rate sensitive tech stocks were getting a lift on easing bond yields, with shares of ASML Holding /zigman2/quotes/210293876/composite ASML -1.66% up 2.6%, ASM International /zigman2/quotes/201180544/delayed NL:ASM -1.60% up 2.6% and AMS-Osram /zigman2/quotes/204183137/delayed AT:AMS -5.31% up 3.7%.

Several stocks were reacting to earnings news. Shares of Ayden /zigman2/quotes/205351021/delayed NL:ADYEN +1.04% led the gainers, with shares up 11%, after the Dutch payments group reported a forecast-beating 62% rise in second-half net profit and an upbeat view.

Pandora stock /zigman2/quotes/205851124/delayed DK:PNDORA -2.71% climbed nearly 6%, after the Danish jeweler proposed a new 3.3 billion Danish kroner ($506.2 million) share buyback and said its current performance remains solid, with continued profit growth. After preleasing fourth-quarter figures last month, Pandora said organic growth was 23% in January.

On the other end, shares of Aegon /zigman2/quotes/204800863/delayed NL:AGN -0.77% tumbled 5%. The Dutch insurance and asset-management company reported a significant rise in net profit for the fourth quarter of 2021, which came in above market views, and said it continues to reduce its expenses. However, analysts zeroed in on results that they saw as mixed and conservative guidance from the group.

Also reporting was Akzo Nobel /zigman2/quotes/201828797/delayed AT:AKZO -3.55% , whose shares got a 3% lift after the Dutch paints company announced plans for a new 500 million euro ($570.9 million) share-buyback program after reporting a market-beating net profit for the fourth quarter of the year.

Siemens Energy /zigman2/quotes/221435471/delayed XE:ENR -1.12% shares rose 1.5%, after the German energy company swung to a net loss for the quarter ended Dec. 31, and reported an 11% fall in revenue, though that was in line with a warning from the company last month. That followed a profit warning from its subsidiary Siemens Gamesa Renewable Energy.

GlaxoSmithKline shares /zigman2/quotes/200381158/delayed UK:GSK -0.68% /zigman2/quotes/209463850/composite GSK -1.59% were up 0.5%. The COVID-19 vaccine maker posted a rise in final-quarter 2021 net profit that came short of a company-provided consensus, but sales beat expectations. Glaxo said it expects to deliver sales growth in 2022 of between 5% to 7% at constant exchange rates.

The pharmaceutical giant also said the demerger of its consumer healthcare business was on track to happen in mid-2022.

/zigman2/quotes/210599654/delayed
XX : STOXX
439.03
-4.04 -0.91%
Volume: 0.00
Aug. 17, 2022 11:03p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,626.71
-283.41 -2.04%
Volume: 57,254
Aug. 17, 2022 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,528.32
-64.26 -0.97%
Volume: 62,910
Aug. 17, 2022 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,515.75
-20.31 -0.27%
Volume: 466,458
Aug. 17, 2022 4:59p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0169
-0.0010 -0.0982%
Volume: 0.0000
Aug. 18, 2022 1:23a
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2039
-0.0010 -0.0830%
Volume: 0.0000
Aug. 18, 2022 1:22a
loading...
/zigman2/quotes/211347112/realtime
add Add to watchlist BX:TMBMKDE-10Y
BX : Tullett Prebon
1.09
+0.12 +11.92%
Volume: 0.00
Aug. 17, 2022 6:03p
loading...
/zigman2/quotes/211347230/realtime
add Add to watchlist BX:TMBMKIT-10Y
BX : Tullett Prebon
3.30
+0.16 +5.04%
Volume: 0.00
Aug. 17, 2022 5:30p
loading...
/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 33,950.00
-13.00 -0.04%
Volume: 5,532
Aug. 18, 2022 12:13a
loading...
/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,273.00
-3.75 -0.09%
Volume: 37,427
Aug. 18, 2022 12:13a
loading...
/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 13,474.75
-18.50 -0.14%
Volume: 20,183
Aug. 18, 2022 12:13a
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.87
-0.03 -0.88%
Volume: 0.00
Aug. 18, 2022 1:23a
loading...
/zigman2/quotes/210293876/composite
US : U.S.: Nasdaq
$ 557.28
-9.40 -1.66%
Volume: 667,733
Aug. 17, 2022 4:00p
P/E Ratio
35.42
Dividend Yield
1.13%
Market Cap
$228.98 billion
Rev. per Employee
$724,059
loading...
/zigman2/quotes/201180544/delayed
NL : Netherlands: Euronext Amsterdam
296.10
-4.80 -1.60%
Volume: 155,918
Aug. 17, 2022 5:35p
P/E Ratio
28.14
Dividend Yield
0.84%
Market Cap
€14.63 billion
Rev. per Employee
€604,060
loading...
/zigman2/quotes/204183137/delayed
AT : Austria: Vienna
8.06
-0.45 -5.31%
Volume: 30,498
Aug. 17, 2022 5:32p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
€2.23 billion
Rev. per Employee
€204,172
loading...
/zigman2/quotes/205351021/delayed
NL : Netherlands: Euronext Amsterdam
1,807.00
+18.60 +1.04%
Volume: 64,825
Aug. 17, 2022 5:35p
P/E Ratio
117.95
Dividend Yield
N/A
Market Cap
€55.39 billion
Rev. per Employee
€2.75M
loading...
/zigman2/quotes/205851124/delayed
DK : Denmark: OMX
kr. 487.60
-13.60 -2.71%
Volume: 418,100
Aug. 17, 2022 4:59p
P/E Ratio
10.67
Dividend Yield
3.28%
Market Cap
kr.45.30 billion
Rev. per Employee
kr.1.04M
loading...
/zigman2/quotes/204800863/delayed
NL : Netherlands: Euronext Amsterdam
4.80
-0.04 -0.77%
Volume: 7.16M
Aug. 17, 2022 5:35p
P/E Ratio
21.34
Dividend Yield
4.17%
Market Cap
€9.88 billion
Rev. per Employee
€997,710
loading...
/zigman2/quotes/201828797/delayed
AT : Austria: Vienna
68.38
-2.52 -3.55%
Volume: 0.00
Aug. 17, 2022 5:32p
P/E Ratio
20.17
Dividend Yield
2.90%
Market Cap
€12.16 billion
Rev. per Employee
€310,701
loading...
/zigman2/quotes/221435471/delayed
XE : Germany: Xetra
16.29
-0.19 -1.12%
Volume: 1.32M
Aug. 17, 2022 6:30p
P/E Ratio
N/A
Dividend Yield
0.61%
Market Cap
€11.77 billion
Rev. per Employee
€304,489
loading...
/zigman2/quotes/200381158/delayed
UK : U.K.: London
£ 1,399.15
-9.60 -0.68%
Volume: 0.00
Aug. 17, 2022 4:35p
P/E Ratio
12.46
Dividend Yield
0.04%
Market Cap
£57.62 billion
Rev. per Employee
£391,949
loading...
/zigman2/quotes/209463850/composite
US : U.S.: NYSE
$ 34.70
-0.56 -1.59%
Volume: 11.52M
Aug. 17, 2022 4:00p
P/E Ratio
11.57
Dividend Yield
5.76%
Market Cap
$69.69 billion
Rev. per Employee
$523,365
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.