European stocks rise for second straight day

2021-08-30 12:19:29 GMT (Economies.com)
European stocks rise for second straight day

European stocks rose on Monday, extending gains for the second straight day thanks to strong market sentiment following successive Wall Street's record gains, after Fed Chair Jerome Powell's remarks at the Jackson Hole conference.

 

The Stoxx Europe 600 index rose 0.2% as of 11:15 GMT, after closing higher by 0.4% on Friday, following the Jackson Hole Economic Conference.

 

The pan European index gained 0.75% last week, the fifth weekly gain during a month and a half, thanks to upbeat Q2 earnings results.

 

The mining sector saw the largest gains in Europe today, with a jump of 0.5%, as most dollar-denominated metals and commodities rose.

 

S&P 500 futures rose 0.1% today, ahead of Wall Street's opening, after the index closed higher by 0.9% on Friday and hit its record of 4,513.33 points.

 

Fed Chairman Jerome Powell stated that the Fed will start tapering its asset purchases before the end of 2021, but will not start to raise interest rates soon.

 

Back to Europe, the Euro Stoxx 50 index rose 0.2%, France's CAC 40 rose 0.2%, and Germany's DAX index rose 0.2%.

 
 
 
  Symbol Last Change Chg.%
1.1601
-0.0011
0.0947%
1.3736
-0.0033
0.2386%
Tadawul
11807.79
-43.89
0.37%
24.055
-0.421
1.720%
82.268
-2.659
3.131%
84.49
-1.86
2.15%
1794.940
-9.105
0.505%
 
 
US
 
Europe
 
Asia