Buoyant Europe markets set eyes on corporate results
European shares, at five-year highs, will focus on a flood of results next week to see if markets can extend their winning streak, while US and UK inflation data will also be closely watched.
Mergers and acquisitions are also a hot area for markets, with Volkswagen’s supervisory board, the largest shareholder in both Scania and MAN, set to meet today to discuss a potential merger between the two truckmakers. Equity markets globally, including those in the US, Switzerland and Singapore, hit record highs this week, while some other markets struck multi-year highs, fuelled by a cocktail of strong earnings and economic growth.
Europe’s top consumer electronics maker Philips, reports third-quarter results tomorrow, followed by Dutch chip equipment maker ASML on Wednesday. The week’s earnings releases peak on Thursday, with numbers due from heavyweights Nokia, Ericsson and SAP.
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