European stocks close higher as Stoxx 600 notches fresh record; Standard Chartered up 6%
Publishing timestamp: 2024-02-23 11:58:02
Summary
European stocks closed higher, with the Stoxx 600 index hitting a record high. Earnings from Standard Chartered and Allianz had mixed results, with Standard Chartered seeing an increase in pre-tax profits while Allianz's property division fell below expectations. U.S. stocks also reached record levels, with the S&P 500 breaking above 5100 for the first time. Investors are cautious about high tech valuations, especially in the AI sector. German economy contracted in the fourth quarter of 2023. Shares of Volvo fell after announcing plans to dilute its stake in Polestar. Lufthansa shares fell due to ongoing strikes. Nvidia's strong earnings could benefit its suppliers. Japan stocks continue to rally, with Goldman Sachs naming "Seven Samurai" stocks. Earnings are due from Allianz, BASF, and Standard Chartered.
Sentiment: MIXED
Tickers: NVDA, .IXIC, STAN-GB, .DJI, .MAG7, .GDAXI, .STOXX, .FTSE, .N225, .FTMIB, .SPX, .FCHI,
Keywords: markets, china, business news, stock markets, economic events, united states, stoxx 600, germany, breaking news: markets, allianz se,
Source: https://www.cnbc.com/2024/02/23/european-markets-live-updates-stocks-news-data-and-earnings.html