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Solid French Industrials Buoying EuroStoxx50

  • Stocks across Europe are trading higher a few hours out from the close, with gains led by the Spanish IBEX-35 and Italy's FTSE-MIB. The EuroStoxx50 holds gains of just over 1.0%, with industrials and energy names propping up gains.
  • The likes of France's Safran, Airbus and Schneider Electric are driving the sector higher, with gains of 3% apiece. Notably, Schneider Electric is trading at an alltime high, with gains driven by upbeat sell-side commentary eyeing improved margins as a result of upbeat services and software sales.
  • Index-wise, the EuroStoxx50 appears to have found support at the 50-dma of 4145.25 mark this week, marking 4200 and the Sept high of 4252.8 as the next upside target.
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