Evergrande, earnings lift European stocksReutersEuropean stocks rose on Friday on a surge in technology stocks, strong earnings from France’s L’Oreal SA and a broad boost to sentiment provided by a surprise interest payment from debt-ridden China Evergrande Group (恆大集團). News that the Chinese property developer had made a bond payment to avert a default lifted the mood globally. France’s blue-chip CAC 40 rose 0.7 percent and outperformed its European peers, riding on a 5.1 percent surge in L’Oreal shares following the cosmetics company’s strong results. “That’s hopeful for the markets.”A bunch of upbeat earnings lifted Wall Street’s S&P 500 to a record high, while its European counterpart is less than 1 percent shy of its August peak. Eurozone inflation expectations hit their highest levels in years, putting additional pressure on the European Central Bank over its insistence on maintaining crisis-era stimulus.

Source: Taipei Times October 23, 2021 17:34 UTC