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FX.co ★ European Stocks Close Broadly Higher As Investors Await Policy Announcements

European Stocks Close Broadly Higher As Investors Await Policy Announcements

European stocks experienced a general upturn on Tuesday, regaining momentum after experiencing a decline in the prior session owing to a sell-off in the technology sector. This downturn was triggered by concerns over the influence of the affordable AI model developed by Chinese startup DeepSeek on the revenue streams of established industry giants.

Market participants directed their attention towards quarterly earnings updates and other corporate developments, while also bracing for anticipated monetary policy declarations from both the Federal Reserve and the European Central Bank.

Sentiment was further strained by apprehensions over trade policies under the Trump administration, coupled with unease surrounding tech earnings due to the emergence of DeepSeek’s cost-efficient AI model from China, thereby curbing potential market gains.

The pan-European Stoxx 600 rose by 0.36%. The U.K.'s FTSE 100 increased by 0.35%, and Germany's DAX saw a rise of 0.7%. Conversely, France's CAC 40, which faced significant losses on Monday, fell modestly by 0.12%, while Switzerland's SMI modestly rose by 0.31%.

Across other European markets, Belgium, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, and Turkiye ended the day on a higher note. In contrast, Austria, Denmark, and Sweden did not fare as well, while Iceland remained stable.

In the UK market, Experian, Scottish Mortgage, Spirax Group, Halma, Barratt Developments, Whitbread, Kingfisher, and Centrica saw gains ranging from 3.1% to 4%. Rentokil Initial advanced nearly 3% following strong financial results. The pest control services company reported a 2.3% increase in organic revenue growth in North America for the fourth quarter of 2024, boosted by a 1.5% rise in organic revenue from North American pest control services, reflecting better performance in inbound lead flow thanks to its marketing strategies.

Other companies like Howden Joinery, Persimmon, Associated British Foods, Entain, Marks & Spencer, BT Group, Compass Group, Airtel Africa, RightMove, Next, WPP, and Tesco also saw significant increases. On the downside, Beazley, Antofagasta, Fresnillo, and Smiths Group dropped 2-2.5%, while Glencore, Rio Tinto, Rolls-Royce Holdings, Mondi, Ashtead Group, GSK, Hiscox, DS Smith, and Anglo American Plc also concluded the day with notable declines.

HSBC Holdings remained unchanged, as the bank outlined plans to streamline parts of its European investment banking division amidst a comprehensive restructuring initiative spearheaded by its new CEO, Georges Elhedery.

यह भी देखें: आप यहां एक ट्रेडिंग खाता खोल सकते हैं

In Germany, Sartorius surged by nearly 12% due to fourth-quarter earnings surpassing expectations, achieving an underlying EBITDA of 259 million euros. Siemens Energy jumped roughly 7.5% following the company's announcement of robust preliminary earnings for the first quarter of the 2025 fiscal year. Merck appreciated 3.25%, while Deutsche Telekom and MTU Aero Engines ended 2.8% and 2.6% higher, respectively. Companies like RWE, E.ON, Deutsche Bank, Mercedes-Benz, Vonovia, and Rheinmetall also posted impressive gains. However, BMW depreciated by nearly 3%, with Porsche, Daimler Truck Holding, and Infineon registering losses of 1-1.7%.

In France, Teleperformance surged by about 4.5%, with Capgemini and Eurofins Scientific closing higher by approximately 3.5% and 2.2%, respectively. Dassault Systemes, Danone, Orange, Accor, Societe Generale, Unibail Rodamco, L'Oreal, Safran, Edenred, Carrefour, Thales, Veolia, and Vinci enjoyed gains from 1-1.7%. Conversely, Schneider Electric plunged around 6.5%, continuing a downward trajectory. STMicroElectronics fell roughly 3.1%, while Stellantis and Legrand closed lower by 1.2% and 1.1%.

Monthly data from the INSEE statistical office revealed signs of recovery in French consumer confidence at the start of the year. The consumer sentiment index climbed to a three-month high of 92 in January from 89 the previous month, against a forecasted score of 90. Yet, the index lingered below its long-term average of 100. The index reflecting consumers' perceptions of their financial prospects improved to -10.0 in January from -14.0, while the sub-index for past financial conditions of households inched up to -22 from -23.

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