European stocks rise near 6-week high, HSBC logs strong profits

2021-10-25 12:27:50 GMT (Economies.com)
European stocks rise near 6-week high, HSBC logs strong profits

European stocks rose on Monday, extending gains for gains for the second straight session, rising near a 6-week high thanks to improved sentiment after the release of upbeat Q3 earning reports by major European banks.

 

The Stoxx Europe 600 index rose 0.1% as of 11:25 GMT, after closing higher by 0.5% on Friday, and hit the highest since September 7 of 473.32 points.

 

The pan European index gained 0.5% last week, the third straight weekly gain, thanks to record gains in Wall Street.

 

The mining sector saw the largest gains in Europe today, with a rise of more than 1.1%, as most dollar-denominated metal prices rose.

 

HSBC stock rose more than 1.0%, after the bank reported profits that topped analysts' expectations during the third quarter, which jumped 75.8% compared to the same period last year at $5.4 billion.

 

S&P 500 futures rose 0.3% today, after the index closed lower by 0.1% on Friday, on profit-taking from a record high 4,559.67.

 

Back to Europe, the Euro Stoxx 50 index rose 0.1%, France's CAC 40 rose less than 0.1%, Germany's DAX index rose 0.3%, and the UK's FTSE 100 rose 0.4%.

 
 
 
  Symbol Last Change Chg.%
1.1323
0.0053
0.4689%
1.3322
0.0013
0.0939%
Tadawul
10810.60
-60.02
0.55%
22.888
-0.158
0.683%
67.365
-5.036
6.956%
70.84
-2.60
3.54%
1793.885
8.795
0.493%
 
 
US
 
Europe
 
Asia