European stocks are hovering near their highest levels ever… and Japanese stocks are rising

2024-03-14 13:57:40

European stocks rose on Thursday, supported by a group of positive data from companies, while investors expressed caution ahead of the release of important economic data from the United States.

During trading, the European STOXX 600 index rose 0.2 percent, and is hovering near unprecedented high levels reached on Wednesday.

The personal and household goods sub-index rose 0.6 percent, being the best performer among sectors, with Empressor stock rising 6.1 percent.

K&S shares rose 5.5 percent following the salt and potash mining company’s annual results exceeded expectations.

The German container shipping company Hapag-Lloyd recorded an 83 percent decline in net profit in 2023, and reduced its dividends by 85 percent as a result of what it described as a difficult market environment, and the company’s shares declined 1.1 percent.

Japan

Japan’s Nikkei closed higher following chip-related heavyweight stocks trimmed early losses and energy stocks rose.

The Nikkei closed up 0.29 percent at 38,807.38 points following three consecutive sessions of losses. The index fell by as much as 0.76 percent earlier in the session. The broader Topix index rose 0.49 percent to 2,661.59 points.

Utility company shares increased 4.12 percent and were the best performers among the 33 sector sub-indices on the Tokyo Stock Exchange, following Tokyo Electric Power Holdings jumped 6.76 percent. Ineos Holdings shares rose 5.32 percent. Nissan Motor shares jumped 2.23 percent following local television network TV Tokyo reported that the automaker was considering seeking a partnership with Honda Motor. Honda shares rose 1.13 percent.

Fast Retailing, which owns the Uniqlo clothing brand, increased 1.62 percent, providing the largest support to the Nikkei index.

Of the 225 components of the Nikkei index, 174 stocks rose and 51 stocks declined.

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