European shares open higher as tech, banks shine By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 17 2024
0mins
Source: Investing.com
- European Shares Performance: European shares rose, with banks recovering losses from the previous week and Denmark's Topdanmark seeing a surge due to Sampo's buyout offer.
- STOXX 600 Index: The pan-European STOXX 600 index increased by 0.4%, rebounding from its worst weekly decline this year.
- Sectoral Gains: The technology sub-index led gains with a 1.2% rise, while European banks also saw an increase of over 1%.
- Political Influence on Markets: European shares faced pressure last week following President Macron's call for a snap election after his party's defeat in the European Parliament elections.
- Company Specifics: Topdanmark's shares surged by 21% after Sampo's acquisition deal, while ING bank forecasted income growth between 4% and 5% annually until 2027.
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.
