European shares extend gains on upbeat Nestle, Volvo earnings

MG News | April 22, 2021 at 12:54 PM GMT+05:00

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April 22, 2021: European stocks moved towards record highs on Thursday after stumbling earlier in the week, as a set of strong earnings reports brightened sentiment ahead of the European Central Bank's policy decision.

The pan-European STOXX 600 index rose 0.4% by 0707 GMT, extending gains for a second straight session after fears of a new wave of COVID-19 cases pushed European markets to their worst day in 2021 on Tuesday.

Nestle rose 2.2% after reporting its strongest quarterly sales growth in 10 years, helped by demand for coffee, dairy, and petcare products.

Swedish truckmaker AB Volvo jumped 4.6% as it beat market expectations for first-quarter core earnings on the back of surging demand.

Credit Suisse fell 5.7% after it posted a 757 million Swiss franc ($825.97 million) pre-tax loss in the first quarter, as the Archegos hit wiped out gains from bumper trading.

Reuters

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KSE100	175,802.79 267.06M	-1.30% -2320.78
ALLSHR	106,568.29 617.78M	-1.25% -1352.24
KSE30	52,497.68 83.82M	-1.25% -665.92
KMI30	247,323.37 106.69M	-1.37% -3422.76
KMIALLSHR	68,315.26 363.70M	-1.37% -952.13
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OGTi	34,758.02 9.23M	-1.71% -605.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,350.00	64,350.00 62,570.00	-1035.00 -1.61%
BRENT CRUDE	86.81	87.12 83.71	2.58 3.06%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.15 -0.14%
ROTTERDAM COAL MONTHLY	119.80	120.30 119.80	0.00 0.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	80.79	81.25 77.93	2.51 3.21%
SUGAR #11 WORLD	14.86	14.90 14.39	0.42 2.91%