LIVE MARKETS — STOXX gains, Morgan Stanley talks up earnings
(Adds blog post) STOXX 600 up 0.4% Eyes on US CPI, reporting season ASML bounces on earnings MS ups MSCI Europe target Wall St futures edge up Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at Stoxx Gains, Morgan Stanley Talks Up Earnings European shares rose after the open on Wednesday as technology found a floor after the recent selloff, with ASML up as much as 3%, defying expectations for a weaker start, after pointing to strong demand for its chipmaking tools. The STOXX 600 gained 0.4%, also supported by real estate, chemicals and construction stocks, as calmer bond markets and earnings optimism offset concerns about Gulf energy supplies. Morgan Stanley expects European earnings growth in the third quarter to exceed an already exceptional second quarter. "Our recent marketing feedback suggests subdued investor expectations into the season given the recent wall of worry (e.g. energy, bond yields, OAT spread, cycle concerns) whilst European corporate resilience/strength remain underappreciated," Marina Zavolock and other MS strategists wrote. They edged up their MSCI Europe target for June 2027 to 2,8
4% Eyes on US CPI, reporting season ASML bounces on earnings MS ups MSCI Europe target Wall St futures edge up Welcome to the home for real-time coverage of markets brought to you reporters. You can share your thoughts with us at Stoxx Gains, Morgan Stanley Talks Up Earnings European shares rose after the open on Wednesday as technology found a floor after the recent selloff, with ASML up as much as 3%, defying expectations for a weaker start, after pointing to strong demand for its chipmaking tools. 4%, also supported by real estate, chemicals and construction stocks, as calmer bond markets and earnings optimism offset concerns about Gulf energy supplies.
Morgan Stanley expects European earnings growth in the third quarter to exceed an already exceptional second quarter. g. energy, bond yields, OAT spread, cycle concerns) whilst European corporate resilience/strength remain underappreciated," Marina Zavolock and other MS strategists wrote. They edged up their MSCI Europe target for June 2027 to 2,840 points, which implies a 12% upside.
Gains were limited by declines in the heavyweight financial sector. 4%, even after LVMH's sales miss on Tuesday dampened hopes for a recovery of the battered sector. Around 63% of STOXX 600 constituents traded higher. 1%.
(Danilo Masoni) *** Earlier On Live Markets: Before The Bell: Europe Eyes Firmer Start, Tech Looks Shaky Click Here Let The Doves Sing Click Here