PARIS / LONDON (dpa-AFX) - Thanks to kind USstock marketn and new records across the Atlantic have also given investors on Europe's stock exchanges new courage. The initial caution gave way to the second quarter despite the reporting season that began later this week. The increasing number of corona infections and worries about the more contagious Delta variant also moved into the background.
The leading Eurozone index EuroStoxx 50 After initial losses, it finally increased by 0,62 percent to 4093,38 points. The French Cac 40 rose by 0,46 percent to 6559,25 points. The British FTSE 100 remained stable with a plus of 0,05 percent at 7125,42 points.
With the exception of the travel and leisure sector, which fell by 1,3 percent, all sectors in Europe grew. The favorites were the financial services industry and the utilities industry, both of which grew 1,4 percent. However, while the financial services sector remained just below its record high last Thursday, the utilities industry had some catching up to do. According to analysts, it has recently been wrongly largely left out. Industry analyst Alberto Gandolf from Goldman Sachs believes the sector's lagging behind in terms of fundamental development is not justified - especially when it comes to renewable energy values.
In Paris, Atos shocked his investors with a forecast cut: The papers of the I.T service provider broke as the clear bottom in the Cac 40 by almost 18 percent. Atos had lowered its revenue growth and operating margin targets for 2021. Analyst Nicolas David from investment bank Oddo spoke of a "significant warning" to shareholders. In addition, Atos did not announce any positive news about the accounting errors found by auditors in 2020 for the Group's US business units.
JCDecaux, on the other hand, jumped around 10 percent in Paris and benefited from a positive study. The US bank JPMorgan has upgraded the share of the out-of-home advertising specialist to "Overweight" and raised its target price from EUR 26 to EUR 29. The corona crisis and the associated lockdown measures would have hit the out-of-home advertising industry hard, but now the economically sensitive industry should recover quickly, wrote analyst Marcus Diebel. He also sees structural growth opportunities and anticipates a significant increase in passenger numbers for the French company, which is heavily focused on airport advertising.
In London, Admiral's shares benefited from the insurer's interim report for the first half of the year. The company is now expecting a higher half-year profit than previously expected.