European stocks rise for first session in 3 on strong Chinese data

2019-12-02 13:46:55 GMT (Economies.com)
European stocks rise for first session in 3 on strong Chinese data

European stocks rose on morning sessions on Monday, poised to post first daily gains in 3 days, amid improved risk-appetite after upbeat China's factories data that eased market's fears about the Chinese economy slowdown.

 

Stoxx Europe 600 rose by 0.2% as of 10:55 GMT, while it closed lowe by 0.4% on Friday, its second straight daily loss on the continue profit-taking from a 4-year high hit earlier in the week. 

 

During last week, the index gained 1.1%, to resume weekly gains after taking a pause in the previous week, lifted by positive news about the US-China trade talks.

 

The index opened today's session higher, poised to post first daily gains in 3 days after taking a pause for 2 days, with most of the major European exchanges and sectors rising today.

 

On the latest signs about the recovery of the Chinese domestic demand thanks to the government's stimulus measures, the manufacturing sector grew to 51.8 points in November,, higher than forecasts of 51.5, and also higher than October's reading of 51.7.

 

Most traders are mostly focused on global trade developments, amid the US and China attempts to reach what is known as the "phase one" trade deal.

 

Markets were expecting an agreement between the two sides to avert the US upcoming 15% tariffs hike on Chinese imports worth $156 billion, which is due December 15.

 

The two countries have not come to any agreement on the interim trade deal between them, as Beijing insists on a complete tariffs rollback by the US as part of any agreement.

 

S&P 500 futures rose by 0.1% today, to hit its all-time high ahead of Wall Street opening, wile it closed lower by 0.4% on Friday, its first daily loss in 5 days on profit-taking from the record high of 3,154.26 points.

 

Back to Europe, the Euro Stoxx 50 index rose by 0.2%, the German DAX added 0.4%, and France's CAC 40 rose by 0.1%, and in London, the FTSE 100 gained 0.2%

 
 
 
  Symbol Last Change Chg.%
1.1141
0.0079
0.7173%
1.3155
0.0018
0.1401%
Tadawul
8005.77
-127.95
1.57%
17.078
0.506
3.051%
58.855
-0.255
0.431%
64.04
0.32
0.50%
1484.740
24.895
1.705%
 
 
US
 
Europe
 
Asia