European stocks edge higher on robust earnings, recovery hopes Sentiment remains positive on hopes of quick economic rebound
about 9 hours ago Updated: about 3 hours ago
Photograph: iStock
European equities rose on Monday, as investors weighed robust earnings reports and a brightening economic outlook against the risks of rising inflation and higher taxes.
The UK market is closed for a public holiday. The Stoxx Europe 600 Index climbed 0.6 per cent as of 4.10pm CET, moving closer to historic highs reached last month. Carmakers led advances, despite continuing warnings about production disruptions due to a shortage of chips.
Ferrari NV gained 2.2 per cent amid upbeat estimates for its earnings report due Tuesday, while Porsche Automobil Holding rose 1.6 per cent.
The cosmetics and beauty company reports a better-than-expected profit.
Estee Lauder Companies now forecasts an up to 12% growth in sales this year.
Estee Lauder Companies Inc. (NYSE: EL) said on Monday its sales fell shy of Wall Street estimates in the fiscal third quarter. The company, however, reported a better-than-expected quarterly profit.
1. Financial performance
Estee Lauder said that its net income in the third quarter printed at £328.75 million that translates to 89 pence per share. In the same quarter last year, it had posted £4.33 million of net loss or 1.44 pence per share.
Are you looking for fast-news, hot-tips and market analysis?
Mattel, Inc. (NASDAQ:MAT) [Trend Analysis] luring active investment momentum, shares a decrease -0.29% to $27.55. Finally to see some strong financial remarks by WSJ over MAT performance. Out of the pool of analysts 7 gave their BUY ratings on the stock in previous month as 9 analysts having BUY in current month. The stock was ranked as Underweight by 1 analyst. Majority ranked Overweight from the pool of analysts.
The next year first quarter EPS estimates trend for current period shows $0.72 while one month ago this estimate trend was for $0.72. EPS indicator shows the robustness of the stock and its analysis opens up the clear picture of company’s profitability. On annual basis of EPS, FY 2017 Estimate Trends at current were for $1.77 and for the one month was for $1.77 as compared to three months ago was for $1.79. Whereas, MAT received highest price target of 41 and low target of 29. The stock price target chart showed average price target of 35.45 as compared to current price
Value opportunities still exist in shift to stock-picker’s market Helen Burnett-Nichols Published April 27, 2021
Estee Lauder Companies Inc. saw its skin care sales increase during lockdown and margins improve with direct-to-consumer online sales, but the makeup, fragrance, and duty-free segments of its business are expected to come back as economies reopen and travel resumes. REUTERS/Lucy Nicholson/Files
LUCY NICHOLSON/Reuters
Encouraged by rising interest rates on long-term bonds and optimism over global reopening plans, the rotation toward value and cyclical names took hold late last year and is expected to continue as economic activity picks up. But while opportunities are arguably not as plentiful as they were a few months ago, portfolio managers say there are still pockets of value to uncover in several sectors.