European stock futures mixed on Wednesday

05.05.2021 - Petr Mazaylo
European stock futures mixed on Wednesday

A sharp decline in the tech sector overnight ahead of a new round of corporate earnings caused mixed results for European stock markets on Wednesday.

Germany’s DAX futures gained 0.2%. CAC 40 futures in France declined 0.3%. The U.K.’s FTSE 100 futures contract improved 0.1%.

In Wall Street, concerns of rising interest rates made investors turn away from megacap stocks, leaving the Nasdaq Composite 1.9% lower.

Across the Atlantic, German Logistics Company Deutsche Post upgraded its full-year profit projection on Wednesday after more than tripling its operating earnings in the first quarter, predicting that e-commerce will keep booming and global trade will rebound.

Moreover, French utility Veolia recorded higher first quarter earnings on Wednesday and held on to its 2021 financial outlook. German fashion house Hugo Boss almost doubled its first-quarter sales in mainland China, and forecast a bounce back in the rest of the business in the remainder of the year.

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