A strong open from the Dow Jones, itself lifted by a record-breaking performance from Google-overlord Alphabet (NASDAQ:GOOGL), allowed the European indices to maintain their own healthy growth on Tuesday.
Ignoring the impact of that gigantic fine from the EU, investors barrelled into the tech giant – which is maybe the most everyday company in existence – after it posted a better than forecast 26% jump in Q2 revenue to an astonishing $32.7 billion on Monday night.
Not only did these results send Alphabet itself to an all-time high, the size of the stock propelled the NASDAQ to a record peak as well. And while the Dow Jones wasn’t quite so lucky, the index still got rose 200 points off the back of the company’s climb, an increase that puts the Dow above 25250 and at a fresh 6 week peak.
This groundswell of positivity had already been in place before the US open, with the DAX and CAC shooting up by 1.4% and 1.3% respectively. This as the euro lost ground to the pound following the morning’s meh flash services PMI, with the single currency hitting a 5 day low against sterling.
Supported by some serious gains in its mining sector, prompted by a potential Chilean disruption to copper production, the FTSE rose 1%, jumping beyond 7725 for the first time since mid-June. Now the UK index needs to withstand a hella' busy run of earnings release, with updates from the likes of GlaxoSmithKline (LON:GSK), ITV (LON:ITV) and Vodafone (LON:VOD) on Wednesday, AstraZeneca (LON:AZN), Shell (LON:RDSa), Diageo (LON:DGE), Anglo American (LON:AAL) and BAT (LON:BATS) on Thursday, and BT (LON:BT), Pearson (LON:PSON) and Reckitt Benckiser (LON:RB) on Friday.
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