Europe stocks open higher after Thursday’s sell-off on Wall Street
European stock markets were trading higher on Friday morning after a sell-off on Wall Street as earnings remain in focus for investors.
The regional Stoxx 600 was up by 0.3%, the U.K.’s FTSE 100 and Germany’s DAX were marginally higher by 0.1% at 8:10 a.m. London time. Meanwhile, France’s CAC 40 was up 0.4% and Italy’s MIB rose by 0.3%.
European firms Kingspan Group, Air Liquide, Sika AG and others reported their fourth-quarter earnings. Standard Chartered for instance beat market expectations, and is now trading up by nearly 5%.
Overnight in the United States, the three major averages closed lower after the S&P 500 hit record highs for two consecutive days. Investors sold off shares of some popular companies following a weak forecast from retail giant Walmart, which raised concerns about the economic outlook.
The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65. The S&P 500 shed 0.43% and closed at 6,117.52, and the Nasdaq Composite dipped 0.47% and closed at 19,962.36.
In Asian markets, Hong Kong’s Hang Seng Index rose 2.98% to its highest level since February 2022, according to data from LSEG.
Shares of Hong Kong listed Alibaba rose 12.9% following a significant profit increase for the company in the December quarter, driven by growth in its Cloud Intelligence division and e-commerce sector.
Source: CNBC
