European shares rise 0.9% on Wednesday as company results lift the Stoxx 600; Carrefour falls 14%
European stock markets closed higher for the first time in three sessions, with Randstad and EssilorLuxottica among the biggest gainers and London's FTSE 100 up 0.2% after UK inflation data.
The pan-European Stoxx 600 index closed up 0.92% at 644.49 on Wednesday 21 October, according to Dow Jones market data published by Morningstar and to Sharecast. It was the index’s first gain in three sessions, Sharecast reported.
Sharecast said the markets in Frankfurt, Paris, Milan and Madrid each rose 1% or more. France’s CAC 40 rose 1.1% even as the yield on 10-year French government bonds rose above 5%. London’s FTSE 100 rose 0.19% to 10,752.88, Dow Jones data showed, after UK figures showed inflation rose to 3.5% in September.
Among individual companies, Dutch recruitment firm Randstad rose about 20% after third-quarter results that beat expectations, and EssilorLuxottica gained after reporting 14% third-quarter revenue growth, Sharecast said. French supermarket group Carrefour fell nearly 14% after lowering its earnings outlook and saying 70 of its sites had been hit during the unrest in France. Tyre maker Michelin fell after nine-month sales figures.
“This market is straining to push higher, but exuberant bulls are being held back by the fear that oil prices will rise further from here,” Chris Beauchamp, chief market analyst at IG, said, according to Sharecast.
For Tuesday’s session, see our earlier report.
Sources
- STOXX Europe 600 Index Ends 0.92% Higher at 644.49 — Data Talk · Dow Jones via Morningstar
- Europe close: Stocks rebound, French shares rise despite bond sell-off · Sharecast
- FTSE 100 Index Ends 0.19% Higher at 10752.88 — Data Talk · Dow Jones via Morningstar
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