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Feb. 10, 2021, 4:10 a.m. EST

European stocks struggle after mixed earnings, while U.S. equity futures rise

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By Barbara Kollmeyer

European stocks struggled for gains on Wednesday as investors absorbed a mixed bag of earnings from Société Générale, A.P. Moeller-Maersk and other corporates, while U.S. equity futures rose.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +0.78% rose 0.3% to 411 after a modest decline on Tuesday. But the German DAX /zigman2/quotes/210597999/delayed DX:DAX +1.59% slipped 0.1% and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.78% and FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.56% were flat. Asian stocks had a robust session, with the China CSI 300 index /zigman2/quotes/210598128/delayed XX:000300 +1.05% surging 2% ahead of the start of the China Lunar New Year holiday.

On firmer footing were U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -0.15% /zigman2/quotes/210407078/delayed YM00 -0.17% /zigman2/quotes/210219788/delayed NQ00 -0.20% , which pointed to a higher start for Wall Street following a lackluster session that saw the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.99% and Dow industrials /zigman2/quotes/210598065/realtime DJIA +1.61% each snap six-session winning streaks. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +2.68% eked out its 10th record close.

Investors are waiting for U.S. consumer prices data for January, with a speech coming as well from Federal Reserve Chairman Jerome Powell on the labor market. Data from Europe showed French industrial production falling for a second straight month in December, halting the recovery from the COVID-19-driven drop.

Among European stocks on the move, shares of Adyen /zigman2/quotes/205351021/delayed NL:ADYEN +5.09% led the Stoxx 600 gainers with a nearly 10% gain after the Dutch paints company reported higher net profit for the second half of 2020 and lifted its long-term earnings margin target.

Also near the top of the gainers list, shares of Société Générale /zigman2/quotes/206663756/delayed FR:GLE +0.14% rose around 3% after the French bank said it would launch a buyback in the fourth quarter , after net profit for the final quarter of 2020 fell less than expected and it also met guidance for 2020.

Shares of Smurfit Kappa /zigman2/quotes/201317005/delayed UK:SKG +2.40% rose over 3% after the paper-based packaging group reported higher pretax profit and lifted its final dividend.

On the downside, shares of A.P. Moeller-Maersk /zigman2/quotes/202892434/delayed DK:MAERSK.B +2.01% tumbled over 6%. The Danish shipping giant reported surging demand in the fourth quarter and spiking freight rates spiked due to bottlenecks across its supply chain that includes a lack of ships and containers.

Shares of Heineken /zigman2/quotes/205347870/delayed NL:HEIA +0.64% fell more than 2% after the Dutch brewer said it swung to a loss for 2020 due to pandemic effects, but laid out a target to restore its adjusted operating profit margin to around 17% by 2023. Heineken also said it expects improving market conditions in the second half of this year.

Dutch lender ABN Amro /zigman2/quotes/209088556/delayed NL:ABN +2.66% reported a sharp fall in fourth-quarter net profit for the fourth quarter due to COVID-19. Shares fell 2%.

/zigman2/quotes/210599654/delayed
XX : STOXX
437.71
+3.40 +0.78%
Volume: 0.00
May 26, 2022 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
14,231.29
+223.36 +1.59%
Volume: 57,436
May 26, 2022 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,410.58
+111.94 +1.78%
Volume: 66,120
May 26, 2022 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,564.92
+42.17 +0.56%
Volume: 648,110
May 26, 2022 4:56p
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/zigman2/quotes/210598128/delayed
XX : China Securities Index
4,034.81
+41.77 +1.05%
Volume: 2.79B
May 27, 2022 9:54a
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,049.50
-6.25 -0.15%
Volume: 29,691
May 26, 2022 8:59p
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 32,543.00
-57.00 -0.17%
Volume: 4,764
May 26, 2022 8:59p
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/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 12,254.50
-24.75 -0.20%
Volume: 20,272
May 26, 2022 8:59p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,057.84
+79.11 +1.99%
Volume: 2.40B
May 26, 2022 5:42p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
32,637.19
+516.91 +1.61%
Volume: 352.82M
May 26, 2022 5:42p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,740.65
+305.91 +2.68%
Volume: 4.08M
May 26, 2022 5:16p
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/zigman2/quotes/205351021/delayed
NL : Netherlands: Euronext Amsterdam
1,469.20
+71.20 +5.09%
Volume: 58,114
May 26, 2022 5:36p
P/E Ratio
95.90
Dividend Yield
N/A
Market Cap
€43.30 billion
Rev. per Employee
€2.75M
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/zigman2/quotes/206663756/delayed
FR : France: Euronext Paris
24.91
+0.04 +0.14%
Volume: 3.08M
May 26, 2022 5:35p
P/E Ratio
3.92
Dividend Yield
6.63%
Market Cap
€18.98 billion
Rev. per Employee
€371,419
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/zigman2/quotes/201317005/delayed
UK : U.K.: London
3,195.00 p
+75.00 +2.40%
Volume: 346,526
May 26, 2022 4:35p
P/E Ratio
14.24
Dividend Yield
3.30%
Market Cap
£8.06 billion
Rev. per Employee
£180,964
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/zigman2/quotes/202892434/delayed
add Add to watchlist DK:MAERSK.B
DK : Denmark: OMX
kr. 20,300.00
+400.00 +2.01%
Volume: 26,299
May 25, 2022 4:59p
P/E Ratio
2.70
Dividend Yield
12.32%
Market Cap
kr.374.51 billion
Rev. per Employee
N/A
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/zigman2/quotes/205347870/delayed
NL : Netherlands: Euronext Amsterdam
91.76
+0.58 +0.64%
Volume: 311,680
May 26, 2022 5:35p
P/E Ratio
15.90
Dividend Yield
1.35%
Market Cap
€52.49 billion
Rev. per Employee
N/A
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/zigman2/quotes/209088556/delayed
NL : Netherlands: Euronext Amsterdam
10.80
+0.28 +2.66%
Volume: 2.59M
May 26, 2022 5:35p
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