European shares extend gains on upbeat Nestle, Volvo earnings

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

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
BKTi 49,936.11
23.35M
-1.18%
-594.28
OGTi 34,758.02
9.23M
-1.71%
-605.59
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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%

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