European shares end up over 1% on China COVID relief, positive forecasts



* Shanghai reports three days of no new COVID-19 cases

* ENGIE, Daimler Truck jump after earnings

* Equinor edges lower

By Susan Mathew and Shreyashi Sanyal

May 17 (Reuters) - European shares ended higher on Tuesday, on hopes that demand in China could be sustained as authorities looked to relax COVID-19 restrictions as investors also welcomed upbeat earnings forecasts.

The STOXX 600 index .STOXX rose 1.2%, with a 3.2% jump in the mining sector leading gains. Banks .SX7P and industrial stocks .SXNP were also among sectors providing the biggest support.

Risk appetite was boosted after Shanghai achieved the long-awaited milestone of three straight days with no new COVID-19 cases outside quarantine zones, which could lead to the beginning of the lifting of restrictions.

"The markets (have) been obsessed with what's going on in China and essentially that is the singular major catalyst," said Keith Temperton, sales trader at Forte Securities.

Worries about growth in China, a higher interest rate environment squeezing economic momentum, and the fallout from the Russia-Ukraine war have dented markets this year, with the STOXX 600 near one-year lows in March.

Markets have also seen huge volatility. The region-wide benchmark hit two-month lows last week, but has since rallied almost 5% from that level. For the year, it is down around 10%.

Data from the United States showed a solid rise in retail sales in April, adding to the day's respite from the global growth concerns.

"Never bet against the U.S. consumer has always been a good adage," said Paul Ashworth, chief North America economist at Capital Economics.

"Despite the surge in prices weighing on their purchasing power, the U.S. consumer now appears to be single-handedly keeping the global economy afloat again."

Among individual shares, French power group ENGIE ENGIE.PA firmed 5.3% after it posted higher first-quarter profits and raised its 2022 outlook while saying it was in talks with Russia's Gazprom GAZP.MM regarding changing the payment scheme for gas supplies.

Daimler Truck Holding DTGGe.DE and Spain's Caixabank CABK.MC rallied 6.5 and 5.2% respectively, on upbeat forecasts.

Power generation company ContourGlobal GLO.L soared 32.9% after U.S. private-equity firm KKR KKR.N agreed to buy the firm for 1.75 billion pounds ($2.16 billion).

Equinor SA EQNR.OL edged 0.2% lower after the Norwegian oil producer told Reuters that it took the first steps along with Exxon Mobil Corp XOM.N to expand an $8 billion oil development off Brazil's coast.
Reporting by Susan Mathew and Shreyashi Sanyal in Bengaluru; Editing by Uttaresh.V and Alison Williams

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明