Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stocks Higher; Lagardere Soars After Vivendi Buys Stake

Stock MarketsSep 16, 2021 09:14
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Peter Nurse 

Investing.com - European stock markets traded higher Thursday, boosted by solid corporate earnings and consolidation in the media sector despite a weak handover from Asia.

At 3:45 AM ET (0845 GMT), the DAX in Germany traded 0.7% higher, the CAC 40 in France rose 0.7% and the U.K.’s FTSE 100 climbed 0.4%.

Equities in Europe bucked a weak handover from Asia, helped by strong gains in Lagardere (PA:LAGA) after fellow French media giant Vivendi (OTC:VIVHY) announced plans to buy a further stake in the owner of Paris Match, paving the way for a full takeover. Lagardere stock soared over 20%, while Vivendi stock dropped 0.8%.

There was also support from decent earnings numbers. 

Wickes (LON:WIX) stock rose 3% after the U.K.-based DIY chain raised its annual profit forecast after reporting a better-than-expected jump in its first-half profit, while Thales (PA:TCFP) stock climbed 1.2% with the French defense company keeping its 2021 financial goals despite a unit losing a major Australian contract. It had lost over 10% in the last two months as rumors that it may lose the contract had started to circulate.

Ryanair (LON:RYA) stock rose 3.3% after the discount airline raised its long-term traffic forecast, expecting a strong recovery from the Covid-19 pandemic. Airline stocks in general were lifted by news that the U.K. is set to loosen Covid-19 testing requirements for vaccinated travelers. EasyJet (LON:EZJ) stock rose 3.9%, while IAG (LON:ICAG) stock and Wizz Air (LON:WIZZ) stock both rose 3.4% 

Earlier Thursday, Asian stocks largely sold off, with the Hong Kong benchmark index, the Hang Seng, falling nearly 2% as casino shares extended the previous day’s rout on the back of the Chinese government tightening its grip on Macau, the world’s biggest gambling hub.

Additionally, troubled Chinese real estate giant Evergrande (HK:3333) stock slumped around 10% after its main unit applied to suspend trading of its onshore corporate bonds, raising fresh worries of default risks.

Back in Europe, the region’s new car registrations dropped in July and August after four months of growth, by 23.6% and 18.1% year-on-year respectively, but most attention Thursday will be on the release of U.S. August retail sales and weekly initial jobless claims for clues of the health of the important U.S. economy.

Crude prices edged higher Thursday, adding to the previous session’s strong gains on the back of a sharp drawdown in crude stocks in the United States, the largest oil consumer in the world.

Crude inventories fell by 6.4 million barrels last week, according to the Energy Information Administration late Wednesday, as refiners in the U.S. Gulf of Mexico struggled to recover from the damage caused by Hurricane Ida.

By 3:45 AM ET, U.S. crude futures traded 0.1% higher at $72.66 a barrel, while the Brent contract rose 0.1% to $57.54. Both contracts gained around 3% on Wednesday, and are up nearly 50% year-to-date.

Additionally, gold futures fell 0.4% to $1,787.35/oz, while EUR/USD traded 0.3% lower at 1.1782.

European Stocks Higher; Lagardere Soars After Vivendi Buys Stake
 

Related Articles

Bitcoin falls 8.4% to $49,228.82
Bitcoin falls 8.4% to $49,228.82 By Reuters - Dec 04, 2021

(Reuters) - Bitcoin dropped 8.4% to $49,228.82 at 20:01 GMT on Saturday, losing $4,514.87 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Hasib Ali
Hasib Ali Sep 23, 2021 16:34
Saved. See Saved Items.
This comment has already been saved in your Saved Items
123
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email