European stocks close higher as earnings ramp up; Watches of Switzerland down 36%
Publishing timestamp: 2024-01-18 11:48:15
Summary
European markets closed higher as investors monitored news from the World Economic Forum in Davos. The Stoxx 600 index was up, with travel stocks rallying and utilities falling. Watches of Switzerland saw a significant drop in its stock price after cutting its guidance for the fiscal year. European central bank officials at Davos expressed caution about interest rate cuts. Other companies, such as Richemont and Flutter Entertainment, reported positive earnings and trading updates. The director general of the World Trade Organization expressed concerns about attacks on vessels in the Red Sea impacting trade forecasts. The CEO of Barclays expressed optimism about the outlook for the UK economy. Stock markets have rallied, but some companies are trading at steeper discounts, presenting opportunities for investors.
Sentiment: MIXED
Tickers: CFR-CH, .FCHI, .FTSE, URTH, .FTMIB, BCS, FLTR-GB, .STOXX, .GDAXI, WOSG-GB,
Keywords: foreign policy, compagnie financiere richemont sa, davos, business news, harbour energy plc, antony blinken, breaking news: europe, flutter entertainment plc, stoxx 600, watches of switzerland group plc,
Source: https://www.cnbc.com/2024/01/18/european-markets-live-updates-stocks-news-data-and-davos.html