- Bullish session on European markets, DAX gains more than 0.9%
- AP Moller Maersk and AstraZeneca results in focus
European stock indices traded higher during Thursday's session. The DAX is currently gaining 0.91% intraday on an intraday basis while France's CAC40 is adding 0.72% over the same period. Investor attention today turns to corporate news, quarterly results from AP Moller Maersk and AstraZeneca, and the Bank of England's interest rate decision. More information below:
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Volatility currently seen in the European market. Source: xStation
The German DE40 index is gaining ground today and is back in zones close to historic highs. The most important support for the index invariably remains the 50-day EMA (blue curve on the chart) and the recent peak broken out by the index in the 20,500-point zone. Key resistance, on the other hand, remains the previously mentioned historical peak. Technically, the DE40 continues to maintain a stable uptrend all the time. Source: xStation
News
Shares of AstraZeneca (AZN.SE) are gaining nearly 4.5% today after the drugmaker announced that it could face a smaller-than-expected fine of up to $4.5 million in China over suspected unpaid import taxes for two cancer drugs, reassuring analysts and investors that the impact on business would be small.
Moreover, the company boasted strong fourth-quarter results. Total Q4 revenue was $14.9 billion versus estimates of $14.2 billion, and Q4 EPS was $2.09 above estimates of $2.07. Analysts expect 2025 sales growth of 6.5% and profit growth of 12.6%.
AP Moller Maersk (MAERSKA.DK) shares are also up nearly 9% today. The freight giant booked better-than-expected financial results for Q4. The Danish company's underlying EBITDA rose to $3.60 billion from $839 million a year earlier, beating analysts' forecast of $3.0 billion. Maersk reported 6% growth in the global container market last year and expects 4% growth in 2025.
Shares of French fashion giant Kering (KER.FR) lost nearly 4% today after the group announced that creative director Sabato de Sarno would leave the Gucci brand. However, the declines have now been almost completely erased, as de Sarno's departure is not a complete surprise, given his poor performance.
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