European stocks are trading higher everywhere in Europe on Thursday, from Madrid to London, continuing the bullish trend started overnight in Asia. Investors’ trading mind has changed a lot since yesterday after a slew of big companies around the world beat estimates in their Q3 earnings, erasing concerns about slower global growth. Approximately 80% of S&P500 listed companies have beaten market expectation so far and traders also welcomed the fact that geopolitical tensions with Turkey were easing after President Erdogan told Washington he will make the current ceasefire permanent.
Today’s bullish movements may also be boosted by investors’ anticipation of further stimulus from today’s ECB meeting. Traders are buying stocks may want to take profit at the time of the ECB Press conference which could spark volatility spikes as well as a “buy the rumour, sell the news” phenomenon on EU assets. Today will see another bunch of Q3 results with tech giants like Twitter and Amazon as well as important French companies like Dassault, Hermes, Peugeot, Saint Gobain and Michelin, which is likely to have an impact on the CAC-40 Index in Paris.
Photo by Anthony Delanoix.
