Technologies boost European stock markets – Markets in a minute

Technologies boost European stock markets

The main European indices are gaining value this Friday, with investors focused on the first quarter results season and evaluating the listing of CVC Capital Partners.

The European reference index, Stoxx 600, adds 0.55% to 505.13 points, with almost all sectors on the rise, with the exception of chemical products, which drops 1.11%, after the IMCD results were below than expected.

Registering the biggest gains is the technology sector, benefiting from a technology rally that began on Wall Street – with the results of Alphabet and Microsoft – and which also boosted the Asian session.
Among the main market movements, CVC Capital Partners jumped 21.94%, after rising more than 28% on its debut on the Amsterdam stock exchange. In the initial public offering, investors raised two billion dollars, according to Bloomberg.

Anglo American fell 0.84%, after the mining giant rejected the proposal from the Australian group BHP, justifying that the £31 billion “significantly undervalues” the company and its future prospects

“In general, the earnings season in Europe is going very well so far,” Joachim Klement, strategist at Liberum, told Bloomberg, highlighting the financial and materials sector.

“A positive results season would support our opinion that the stock market will accelerate and appreciate again during the rest of the year, due to the improvement in the European economy and the reductions in interest rates” by the European Central Bank and the Bank of England, he added.

Among the main indices in Western Europe, the German Dax adds 0.56%, the French CAC-40 increases 0.25%, the Italian FTSEMIB gains 0.45%, the British FTSE 100 rises 0.58% and the Spanish IBEX 35 earns 0.78%. In Amsterdam, the AEX registered an increase of 0.96%.