Europe stocks extend gains to 8-month high, on corporate earnings and Chinese data

2019-04-17 14:04:33 GMT (Economies.com)
Europe stocks extend gains to 8-month high, on corporate earnings and Chinese data

The European shares rose on Wednesday morning to extend their gains for a sixth consecutive session, reaching a new 8-month high, on the continued flow of better-than-estimated corporate earnings for major banks and companies, as well as strong data in China that trimmed fears of a slowdown in the world's second-largest economy.

 

As of 10:55 GMT, Stoxx Europe 600 rose by 0.2%, to its highest level since last August. The index ended yesterday's session up by 0.4%, its fifth straight daily gain, supported by a strong rally by banks and financial firms, After an improvement in confidence levels for the German and European economy during April.

 

The Index rose on today's trading to continue its gains for the sixth session in a row, reaching its highest level in eight months, with most of the major bourses and sectors in the positive region.

 

Investors are focusing on the earnings reports of companies and banks of the first quarter, with the beginning of the business earnings reports season for the first quarter of this year.

 

In China, the world's second-largest economy grew by 6.4% in the first quarter of this year, while experts forecast a growth of 6.3%, and industrial production rose by 8.5% in March, the highest pace since July 2014, exceeding the expectations of experts rise by 5.6%.

 

In terms of trading, S&P 500 futures rose by more than 0.2%, as the index ended yesterday's session on Wall Street, up by 0.1% after hitting a six-month high earlier in the day.

 

Euro Stoxx 50 index gained 0.2%, as France's CAC 40 index gained 0.25%, and Germany DAX added 0.3% to top the gainers' list in Europe.

 

Whilst in London, the FTSE 100 index fell 0.1%, contrary to the upward trend in Europe, with BHP index falling more than 2.5% after the world's biggest resources company lowered its forecast for iron ore production

 
 
 
  Symbol Last Change Chg.%
1.1165
0.0002
0.0166%
1.2723
-0.0014
0.1107%
14.466
0.049
0.336%
63.172
0.491
0.784%
72.05
-0.16
0.22%
1277.845
0.080
0.006%
 
 
US
 
Europe
 
Asia