Most European benchmarks opened higher on Thursday, paring some of yesterday’s losses, as market sentiment gets a fresh boost from the corporate sector. Strong earnings reports from major companies like ASM International NV or Royal Dutch Shell have managed to reassure investors, temporarily at least, ahead of another busy day. There is also a possibility that investors are already betting on more dovish measures, in the shape of further monetary stimulus from the ECB meeting today, as Christine Lagarde may provide the Eurozone with more support following renewed lockdowns in the biggest economies. Of course, traders will also pay close attention to the US GDP data for the third quarter, as well as to a large new batch of corporate news, especially in the tech sector, with Apple, Amazon, Facebook, Twitter and Spotify reporting results today.
Today’s light rebound is mainly driven by real estate and tech shares while the Stoxx-50 index, still impacted by this week’s bullish pressure, is struggling to stay above the 2,945 pts very-short-term support level.
