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	178,262.34 385.16M	4.23% 7241.13
ALLSHR	107,837.44 1,028.26M	3.85% 4001.05
KSE30	53,347.67 160.21M	4.70% 2395.68
KMI30	251,510.37 142.71M	4.52% 10876.50
KMIALLSHR	69,173.86 484.44M	3.91% 2601.11
BKTi	51,064.73 51.74M	4.91% 2391.50
OGTi	35,248.42 10.48M	4.59% 1546.17

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,485.00	66,075.00 63,875.00	1270.00 1.98%
BRENT CRUDE	90.35	93.60 87.55	-6.43 -6.64%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.55 -1.44%
ROTTERDAM COAL MONTHLY	120.00	120.00 120.00	-0.25 -0.21%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	83.79	86.20 82.12	-5.52 -6.18%
SUGAR #11 WORLD	14.62	14.75 14.54	-0.15 -1.02%