European Indices Rise as Sentiment Improves
European stocks rose on Tuesday, supported by falling oil prices and improved sentiment after US President Donald Trump said there had been "major progress" toward a comprehensive peace deal with Iran. This optimism boosted risk appetite, while weaker oil prices provided some relief for markets sensitive to energy costs.
Currently, Wednesday (May 6), the pan-European STOXX 600 index rose 1% to 615.62 at 07:03 GMT, extending its gains for a second day. The region's major bourses also rose, with London's FTSE 100 and Spain's IBEX 35 both rising more than 1%.
Relief in energy prices has been a key channel for Europe, which is relatively dependent on energy imports. However, the region's performance lagged behind global markets, which hit record highs, as artificial intelligence-themed optimism dominated major bourses.
At the stock level, Novo Nordisk jumped nearly 7% after posting first-quarter revenue and adjusted operating profit above expectations and slightly raising its full-year guidance. On the other hand, Equinor fell 5% after its results release, while BMW rose 4.6% after publishing its quarterly results, confirming that earnings season remains a key driver for the future. (asd)
Source: Newsmaker.id
