European markets closed slightly higher, with most sectors and major bourses in positive territory. The Stoxx 600 index ended 0.2% higher, led by household goods up 1.8%. ECB policymaker Robert Holzmann highlighted geopolitical risks in the Middle East as the biggest threat to the ECB’s rate cut outlook. Iran’s navy commander announced that the country’s navy is escorting commercial ships to the Red Sea, impacting trade routes between Europe and Asia-Pacific. Luxury group LVMH saw shares climb over 5%, despite a slowdown in first-quarter sales. Adidas shares rose 8% after the company raised its full-year forecast and reported a profit increase. ASML shares fell 4.5% after sales missed expectations.
LVMH shares continued to climb, rising 5.2% even as the company reported a slowdown in sales in the first quarter. Adidas shares rose 8% after the German sportswear company raised its full-year forecast and reported a year-on-year profit increase in the first quarter. ASML shares fell 4.5% after the company missed sales forecasts but maintained its full-year outlook. Despite the sales slowdown, luxury group LVMH saw shares rise 2.5% in morning trade. European stocks opened higher, with the Stoxx 600 index up 0.12%. UK inflation eased to 3.2% in March, slightly higher than expected, but down from February. Investors are watching for signals on when the Bank of England may cut interest rates.
European markets are set to open mixed Thursday, with the U.K.’s FTSE 100 expected to open higher, Germany’s DAX up slightly, France’s CAC lower, and Italy’s FTSE MIB down. Earnings are expected from Nokia, Easyjet, and ABB, along with data on European car registration figures for March. Jefferies forecasts nearly a 100% increase in the share price of a cybersecurity company from current levels. Morgan Stanley has named its top global dividend stocks for this quarter, emphasizing the potential for dividend stocks to outperform in a volatile market. The unpredictability in the market has led to heightened interest in dividend stocks for investors seeking stable returns amidst uncertainty.
