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STOXX 600 ends a week of record highs driven by corporate earnings

FinanceInternationalXTB.comAI summary
Image: XTB.com

European stock markets closed the week calmly after Thursday's historic session, in which the STOXX 600 hit an all-time high around 665 points. The index is heading for a weekly gain of about 2.4%, its best week since late June, supported by a strong earnings season: STOXX 600 companies are on track for a 25% increase in third-quarter profits. The Euro Stoxx 50 and the DAX rose 0.07%, the CAC 40 0.03% and the FTSE 100 0.21%.

In 45 seconds

  • The STOXX 600 hit an all-time high around 665 points and is heading for a weekly gain of about 2.4%, the best since late June.
  • Third-quarter profits for STOXX 600 companies are on track to rise 25%, driven mainly by the energy sector (+151%); excluding it, growth would be 10%.
  • Richemont fell between 4% and 6% despite raising sales 17% and net profit 39%, on signs of a slowdown in jewellery.
Read the full story at XTB.com

IASummary generated by artificial intelligence from a story by XTB.com. It may contain errors: the original source prevails.

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