LIVE MARKETS-STOXX 600 hits new record, beaten down stocks have brighter start

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STOXX 600 HITS NEW RECORD, BEATEN DOWN STOCKS HAVE BRIGHTER START

The STOXX 600 has opened at a new intraday peak on Thursday, as some recent beaten down stocks showed signs of a recovery, helped by M&A and earnings.

The big news is in the asset manager space. They were hit hard on Wednesday as the sector was the latest to be swept up by concerns that AI will upend established businesses.

But a deal by U.S. asset manager Nuveen to acquire Britain's 222-year-old firm Schroders SDR.L has provided some respite on Thursday. Schroders shares are up almost 30%, while peers Aberdeen ABDN.L, St James's Place SJP.L and Quilter QLT.L are all edging up too.

On the earnings front, positive results are giving a lift to heavyweights Siemens SIEGn.DE, Michelin MICP.PA and EssilorLuxottica ESLX.PA . On the downside, Adyen ADYEN.AS shares are tumbling 17% following their H2 numbers and HelloFresh HFGG.DE is down 12% after results.

Sanofi SASY.PA shares are down 4.5% after they announced a new CEO.

The raft of news has pushed Europe's STOXX 600 .STOXX up 0.5% at a new record high. Britain's FTSE 100 .FTSE and France's CAC 40 .FCHI have also risen to new records.

Here's your opening snapshot:

(Samuel Indyk)

EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: STOCKS SET FOR EARNINGS, M&A BOOST CLICK HERE

JOBS IN REARVIEW, EARNINGS NEXT CLICK HERE