Home News European Stocks Rally as Pandemic Recovery Optimism Grows

European Stocks Rally as Pandemic Recovery Optimism Grows

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European stocks displayed a positive trend on Thursday, with the Stoxx Europe 600 index finishing up 0.28% at 441.31^1^. The FTSE 100 index rose by 0.53% to reach 7,451.54^2^. While the French CAC 40 index held steady at 6,998.25^3^, the German DAX weakened by 0.20% to settle at 15,070.22^4^.

Companies on the Rise

Among the constituents of the Stoxx Europe 600, Pandora A/S, a consumer goods company, observed the biggest increase with its shares jumping by an impressive 12.0%^5^. Shares of air transport firm International Distribution Services PLC saw a notable increase of 7.0%^6^, followed by retail company CTS Eventim AG & Co. KGaA which experienced a 6.7% rise^7^. Genus PLC, an agriculture company, and industrial goods business Prysmian S.p.A. also fared well, recording gains of 4.6% and 4.2% respectively^8^.

Companies Facing Decline

Contrasting with the upward trajectory, some companies faced a decline in their stock prices. The road/rail transport company Alstom S.A. saw its shares plummet by a significant 37.6%^9^. Similarly, clothing/textiles firm Puma SE and health care/life sciences company Orpea S.A. experienced significant drops of 11.5% and 10.9% respectively^10^. Atos SE, a business/consumer services company, and leisure/travel goods business CD Projekt S.A. also recorded decreases of 10.8% and 6.2% respectively^11^.

Currency and Oil Market Updates

In currency markets, the pound rose by 0.29% against the dollar, while the euro increased by 0.20%^12^. On the other hand, Brent crude oil weakened by 1.96% and settled at $84.13^13^.

Bond Yields

The yield on the 10-year gilt declined by 4.06 basis points to reach 4.544%^14^. Simultaneously, the yield on the German 10-year bund dropped by 4.440 basis points to settle at 2.88%^15^.

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