European stocks close over 1% higher; UBS soars
Publishing timestamp: 2024-05-07 11:49:37
Summary
European markets saw solid gains on Tuesday, with all sectors in green. UBS and UniCredit beat analyst expectations, while BP's shares fell. Infineon cut its guidance but reported better-than-expected sales. Ferrari's shares dropped despite revenue and profit growth. The British pound was slightly lower against the dollar and euro. French cognac makers rallied after President Macron suggested easing trade tensions with China. China stocks have outperformed the S&P 500 this year. Luxury goods spending by Chinese consumers is expected to increase.
Sentiment: MIXED
Tickers: .IXIC, UBS, .SPX, .FTMIB, .FCHI, .FTSE, .GDAXI, UCG-IT, .DJI, .STOXX, UBSG-CH, IFX-DE, RACE-IT, GBP=, BP.-GB, A3M-ES, RCO-FR, BYDDF,
Keywords: business news, dax, united states, stoxx 600, breaking news: europe, ftse 100, earnings, cac 40 index, ubs group ag, bp plc, unicredit spa,
Source: https://www.cnbc.com/2024/05/07/european-markets-live-updates-stocks-news-data-and-earnings.html