Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Markets Jump to Start 2022: Autos, Airplanes, Travel Lead the Way

Stock Markets Jan 03, 2022 17:28
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

by Daniel Shvartsman

Investing.com - European markets started 2022 continuing the momentum from a strong 2021, as indices jumped in early Monday trading.

At 1015 CET (915 GMT), the DAX (+.9%) , the Euro Stoxx 50 (.8%), the CAC 40 (1.1%), the IBEX 35 (.5%), and the FTSE MIB (1%) all traded higher to start the day. The U.K. markets and thus the FTSE 100 are closed for trading today in observance of New Year's Day.

Leading sectors in early trading included the automobile sector, with Porsche (2.9%), BMW (2.4%), Volkswagen (DE:VOWG_p) (2%), Stellantis (1.5%), and auto parts supplier Michelin (PA:MICP) (1.9%) all driving higher to start the day. This comes amid Tesla (NASDAQ:TSLA) and other electric vehicle makers reporting their deliveries for Q4, as well as South Korean automaker Hyundai forecasting a 12.1% increase in auto sales in 2022.

The airplane industry jumped as well, with Safran (PA:SAF) (2.8%) announcing plans to hire up to 12,000 people in anticipation of air traffic recovering in 2022, with their CEO saying, "The worst is behind us." Airbus is up 2.5% as well on the news. This may also be knocking on to the travel sector more generally, with International Consolidated Airlines (OTC:ICAGY) Group S.A. (MC:ICAG) (4%), Aena (2%), Melia (2.5%), Air France KLM SA (PA:AIRF) (4.2%), and Lufthansa (5.6%) all among winners in early trading.

One more company in the news is Delivery Hero AG (DE:DHER), which announced last Friday it would be increasing its stake from 36% to 80% in Spanish-based delivery company Glovo. The German-based company, which just a couple weeks ago announced it would be shuttering its German efforts for the second time, is up 1.9% on the day. Rival Just Eat Takeaway (AS:TKWY) is trading up .6%.

European may be getting a tailwind from solid PMI (purchasing managers index) reports this morning, with the Eurozone report meeting expectations and showing a solid expansion with a 58 reading (50 and up is expansionary), and most individual countries' reports coming in at or ahead of expectations; Germany came in slightly below expectations with a 57.4 reading vs. 57.9 expectations.

In line with the resurging demand theme, Brent Oil Futures are up 1.3%, as are Crude Oil WTI Futures. There have been questions asked anew over how much the Omicron variant of Covid-19 might weigh on demand and cause a glut in supply, but markets seem unconcerned so far.

Cryptocurrencies have had a muted start to the year, with Bitcoin slightly up for the year but down .9% in the last 24 hours, and Ethereum up 1.2%.

The EUR/USD is down .1% to 1.1356 at 1015 CET (915 GMT).

(Article will be updated throughout the day).

European Markets Jump to Start 2022: Autos, Airplanes, Travel Lead the Way
 

Related Articles

Nio Inc. Partners with UN on Clean Parks Initiative
Nio Inc. Partners with UN on Clean Parks Initiative By Investing.com - Aug 15, 2022

By Michael Elkins Electric vehicle maker, Nio Inc. (NYSE:NIO) announced on Monday that it has joined with the United Nations Development Program (UNDP) to promote its Clean Parks...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email