Stock indices of Western European countries are growing steadily at the beginning of trading on Tuesday after the release of quarterly reports of companies.
Investors are also waiting for the results of the US Federal Reserve and Bank of England meetings this week. Market participants hope that central banks will signal a slowdown in monetary tightening, writes Trading Economics.
The composite index of the largest companies in the Stoxx Europe 600 region rose by 1.26% by 11:00 a.m. to 417.4 points.
The British stock index FTSE 100 grows by 1.48%, the German DAX – by 1.02%, the French CAC 40 – by 1.74%. The Italian FTSE MIB and the Spanish IBEX 35 added 1.64% and 1.07% respectively.
British oil and gas company BP Plc (SPB: BP) in the third quarter increased its profit by 2.5 times in annual terms, announced a $2.5 billion buyback program for its shares. BP shares are rising by 0.5% at the beginning of the session.
Shares of British IT company Osirium Technologies jumped 30% after it reported growth in its customer base and revenue in the past quarter.
Shares of British online supermarket owner Ocado Group jumped 30% on news of a partnership with South Korea’s Lotte Shopping Co. As part of the agreement, Lotte will develop its online business on the Ocado platform.
The value of the Naspers Ltd. holding, which owns various Internet assets, rises by 7%. The company said that media reports about the sale of its stake in China’s Tencent (SPB: 700) Holdings Ltd. are speculative and false.
British automaker Aston Martin Lagonda Global has appointed two members of Saudi Arabia’s Public Investment Fund as directors on its Supervisory Board. Aston Martin Lagonda shares are up 3%.
Switzerland-based IWG, which provides office space rental services, increased revenue by 34% in July-September amid strong demand for offices due to the adoption of a hybrid mode of operation. Paper IWG nevertheless become cheaper by 1.7%.
Among the Stoxx 600 components, Ocado was the top performer, along with German food delivery service Delivery Hero SE (+9.1%) and Dutch Prosus N.V. (+7.6%), which is the parent company of Naspers.
