European markets march larger as issues proceed over vaccine provides and lockdowns
European stocks marched in the green on Tuesday and returned two declines as the market continued to record earnings amid vaccine supply concerns and lockdowns to tackle the COVID-19 pandemic.
The pan-European Stoxx 600 SXXP (+ 0.67%) was 0.9% higher, while the London-based FTSE 100 UKX (+ 0.52%) gained 0.7%. In Paris, the CAC 40 PX1 rose by 0.91% by 1% and the Frankfurt DAX DAX by 1.33% by 1.5%.
The Dow futures YM00 (-0.08%) were unchanged and were lowered 37 points on Monday to close at 30,960 following the Dow Jones Industrial Average DJIA (-0.12%).
The European Union attacked AstraZeneca AZN with + 1.27%.,
The pharmaceutical company and the developer of a COVID-19 vaccine at Oxford University would not have guaranteed the delivery of vaccines without a valid declaration.
The bloc has threatened to immediately impose strict export controls on COVID-19 vaccines made in the group of 27 member states. The EU is lagging behind the UK and US in introducing vaccines as coronavirus continues to rage across Europe.
Continue reading: The EU is pressuring AstraZeneca over vaccination delays
British Prime Minister Boris Johnson is expected to announce new border controls on Tuesday as calls for a third national lockdown grow louder and violent protests against the lockdown continue in the Netherlands.
“European markets had a disappointing start to the week due to a combination of concerns about another lockdown in France, the threat of tighter restrictions for longer periods across Europe, slower vaccine adoption and an interruption in vaccine supplies,” said Michael Hewson. an analyst at CMC Markets.
In Italy, the benchmark index FTSE MIB I945 (+ 0.69%) was above the flat value, but is hovering near a monthly low as the political turmoil in Rome continues. Prime Minister Giuseppe Conte, who has been scrutinized for his handling of the pandemic, will resign on Tuesday as political uncertainty could lead him to form another government.
UBS UBSG (+ 1.78%) was an outstanding figure in European trading. The global wealth manager’s stocks rose roughly 3.5% after a bullish earnings report beat expectations. Net income attributable to shareholders increased 137% year over year for the fourth quarter.
The Finnish telecommunications group Nokia NOKIA (+ 4.36%) is in the spotlight. The stock gained more than 4% on Tuesday after rising 17% and rising 8% on bumpy Monday. The stock has become a target for day traders on Reddit’s WallStreetBets forum. The online community made headlines last week for amassing GME retail chain GameStop with + 18.12% stocks and options, hammering short sellers, and increasing volatility.
Also read: The Reddit host slams Wall Street’s “fat cats” as GameStop’s wild ride continues: “They hate that you obey the rules and still win.”
UK engineer Rolls-Royce RR (-6.31%) stocks are down nearly 10%, continuing losses from Monday. In a trade update, the group warned that the free outflow will be around £ 2 billion ($ 2.7 billion) in 2021 – more than expected.
Novartis NOVN, -2.94%,
One of the largest pharmaceutical companies in Europe missed earnings expectations in the fourth quarter, although sales exceeded expectations. The stock fell nearly 3%.
The European internet investor Prosus PRX (-2.48%) is feeling the pressure of Tencent’s share price. The shares of China’s largest internet giant are down 3%. Tencent’s stock fell more than 6% in Asian trading as the company neared a market valuation of $ 1 trillion.