European Shares Rebound on Strong Earnings, Led by AI-Driven Demand for ABB
6 Sources
[1]
European shares rise after four-day drop as ABB shines
July 17 (Reuters) - European shares rose on Thursday after four consecutive sessions of losses, supported by strong quarterly results from Switzerland's ABB and optimism over a potential trade deal between the United States and the European Union. The pan-European STOXX 600 index (.STOXX), opens
[2]
European shares see first daily gain in five on strong earnings
July 17 (Reuters) - European shares snapped a four-day losing streak on Thursday, boosted by gains in industrials ABB and Legrand after they reported positive earnings news. The pan-European STOXX 600 index (.STOXX), opens new tab closed 1% higher. Most major regional bourses also gained, with
[3]
European shares rise after four-day drop as ABB shines
European shares rebounded on Wednesday, fueled by robust quarterly results from ABB and optimism surrounding potential trade negotiations between the U.S. and EU. ABB's strong performance, driven by U.S. demand and AI-related products, boosted shares of Siemens and Schneider Electric. Investors are
[4]
European shares rise after four-day slide, led by ABB
(Reuters) -European shares rose on Thursday after four consecutive sessions of losses, supported by strong quarterly results from Switzerland's ABB and optimism over a potential U.S. trade deal. The pan-European STOXX 600 index was up 0.7% as of 0854 GMT. All the major regional indexes traded
[5]
European shares see first daily gain in five on strong earnings
(Reuters) -European shares snapped a four-day losing streak on Thursday, boosted by gains in industrials ABB and Legrand after they reported positive earnings news. The pan-European STOXX 600 index closed 1% higher. Most major regional bourses also gained, with Germany benchmark DAX gaining 1.5%,
[6]
European shares rise after four-day drop as ABB shines
(Corrects day in paragraph 1 to Thursday from Wednesday earlier) (Reuters) - European shares rose on Thursday after four consecutive sessions of losses, supported by strong quarterly results from Switzerland's ABB and optimism over a potential trade deal between the United States and the European
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European stock markets ended a four-day losing streak, buoyed by strong quarterly results from companies like ABB, which saw record orders driven by AI-related products. The rebound was further supported by optimism surrounding US-EU trade talks and positive performance in the tech sector.
European Markets Rebound on Strong Earnings
European shares snapped a four-day losing streak on Thursday, with the pan-European STOXX 600 index closing 1% higher
1
. The rebound was primarily driven by strong quarterly results from industrial giants and optimism surrounding potential trade negotiations between the United States and the European Union.
Source: ET
ABB Leads the Charge with AI-Driven Demand
Swiss engineering group ABB was at the forefront of this market resurgence, jumping nearly 10% after posting its highest quarterly order intake yet
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. The company's success was largely attributed to strong U.S. demand and products used in data centers to support artificial intelligence. This performance had a ripple effect on the sector, with shares of rivals Siemens and Schneider Electric adding 3.6% and 5.8% respectively3
.Tech Sector Recovers on TSMC's Strong Performance
European chipmakers also recouped some losses from the previous session as TSMC, the world's main producer of advanced AI chips, posted record profit in the second quarter
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. This news boosted sentiment in the tech sector, with ASML rising 3.9%, following an 11% drop on Wednesday.Other Notable Performers
French electrical infrastructure provider Legrand gained close to 9% after hiking its annual sales target, driven by strong growth in the North American data center segment
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. Online supermarket Ocado climbed 18.5% after reporting a 77% rise in first-half underlying earnings5
.US-EU Trade Talks and Market Sentiment
Source: Reuters
Investors continued to await clarity on U.S.-EU trade talks, with the bloc preparing retaliatory measures if negotiations with Washington failed
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. However, market analysts remained optimistic about the potential for progress in the coming weeks5
.Related Stories
Trump's Comments and Fed Chair Speculation
Market anxiety eased after U.S. President Donald Trump denied reports that he was planning to fire Federal Reserve Chair Jerome Powell
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. However, Trump confirmed that he had floated the idea with Republican lawmakers and renewed his criticism of the Fed chief for not cutting interest rates.Economic Data and Future Outlook
The latest forecasts showed that the outlook for European corporate health has deteriorated, with expectations of a 0.7% year-on-year drop in second-quarter earnings, according to LSEG I/B/E/S data
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. Meanwhile, U.S. June retail sales data showed retail sales rebounding more than expected, potentially influencing future market trends5
.References
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