Continuous gains for the European markets on Wednesday
European markets extended gains on Wednesday, alongside US Futures, amid a new batch of reassuring corporate results. Amundi SA, DSV A/S and ABN AMRO were among the best performers following the European opening bell this morning, with investors welcoming strong results from these companies matching or even topping estimates. These positive reports aren’t just isolated cases, as most EU companies from the tech sector published solid corporate results, providing market sentiment with a strong boost in the middle of the week despite lingering monetary policy worries and pressure from the bond markets. This strong earning season is having a positive impact on riskier assets, as it tells investors the economic recovery remains robust, which should ease the lingering market uncertainty registered over the past few weeks. With that said, investors will remain cautious and focused on today’s US Crude Oil Inventories as well as tomorrow’s key US CPI report, where volatility spikes are widely expected.
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