European markets higher on more earnings reports; Sweden's central bank cuts rates; Puma up 11%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 08 2024
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Source: CNBC
- European Markets: European markets were higher, with the Stoxx 600 index up 0.4%, driven by positive earnings reports and sector performance.
- Company Earnings: BMW's shares fell 4% due to lower profit margins, while Siemens Energy saw an 11% jump after raising its 2024 outlook.
- Central Bank Actions: Sweden's central bank cut interest rates for the first time in eight years, signaling policy divergence from the U.S.
- Stock Performance: Puma's shares rose 11% following strong earnings, while AB InBev and Zalando had mixed results affecting their stock prices.
- Oil Prices: Oil prices were lower as market participants assessed industry data and demand outlooks, impacting Brent crude and West Texas Intermediate futures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
