European stocks rise for second day on positive Chinese data

2020-08-10 12:52:41 GMT (Economies.com)
European stocks rise for second day on positive Chinese data

European stocks rose on Monday, to head for the second straight daily gain, on upbeat Chinese data that boosted hopes about the world's second largest economy recovery, and hopes that the US Democratic and Republican parties will resolve their differences on the new stimulus bill.

 

The Stoxx Europe 600 index rose more than 0.3% as of 11:15 GMT, after it closed higher by 0.3% on Friday, following strong US jobs data.

 

The index gained 2% during the past week, and posted its first weekly gain in 3 weeks, on strong earnings reports by major European companies and banks and upbeat economic data in the euro-zone economy.

 

The pan European index opened higher today, to extend its gains for second straight session, with most of the major European markets and sectors seeing green today.

 

The banking sector saw the largest gains in Europe today, rising over 1.5%, as most of the sector's stocks rebounded.

 

Earlier Chinese data showed producer prices and consumer prices readings rose in July, boosted hopes about the world's second largest economy recovery from the coronavirus impact.

 

US House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin said on Sunday they were open to resuming the coronavirus aid talks, after President Donald Trump took executive actions at the unemployment benefits.

 

S&P 500 futures rose 0.2%, after the index closed higher by 0.1% on Friday, and posted its third straight daily gain.

 

Back to Europe, the Euro Stoxx 50 index added 0.3%, France's CAC 40 rose 0.4%, Germany's DAX added 0.2%, and the UK's FTSE 100 rose 0.35%. 

 
 
 
  Symbol Last Change Chg.%
1.1722
0.0051
0.4370%
1.2922
0.0054
0.4189%
Tadawul
8299.08
16.57
0.20%
23.238
-0.118
0.505%
39.862
-0.428
1.062%
40.95
-0.08
0.19%
1885.410
12.715
0.679%
 
 
US
 
Europe
 
Asia