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STOXX on the up, utilities in the lead



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STOXX 600 up 0.3%

Earnings give support

Utilities lead gainers

Wall St futures rose

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STOXX ON THE UP, UTILITIES IN THE LEAD

Steadying markets saw European shares get off to a positive start on Thursday, with good-looking earnings pushing the region-wide STOXX 600 .STOXX up 0.3% in early trading and driving volatility .V2TX further down from over 5-month highs.

Standing out were utilities .SX6P, up 1.3% in a rare positive day for the battered rate-sensitive industry that scores as the worst performer across the STOXX so far in 2024. Per UBS estimates, utilities had the second worst January to mid-April performance relative to the STOXX in 25 years.

EDP Renovaveis EDPR.LS, National Grid NG.L rose 3% and Oersted ORSTED.CO added 1.7%, among top gainers in the sector.

In London, Hipgnosis Songs Fund SONG.L popped up 30% after the music investor agreed to a $1.4 billion takeover by music and theatrical rights firm Concord Chorus. The FTSE 100 .FTSE added 0.6%

Here is your opening snapshot:

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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:


EUROPEAN FUTURES INCH UP AS Q1 SEASON GETS INTO GEAR CLICK HERE

TECH, FX CLOUDS CLEAR CLICK HERE


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