European stocks rise on Chinese exports data

2019-07-12 12:03:08 GMT (Economies.com)
European stocks rise on Chinese exports data

European shares rose on Friday in the last session of the week, on the verge of achieving the first gain in the last six sessions, supported by the rise of mining and core resources companies, after the release Chinese data that showed the exports of China fell less than expected.

 

Stoxx Europe 600 rose by 0.2% as of 10:55 GMT, and the index ended yesterday's session down by 0.1%, the fifth consecutive daily loss, affected by losses of drugs companies.

 

Over the course of this week's sessions, the Stoxx Europe index lost about 0.7% on its way to the first weekly loss in the past five weeks as a result of the German market's massive decline following a profit warning from BASF.

 

The Index rose on Friday morning in the last session of the week, to get closer to achieving the first gain in the last six sessions, with most of the major stock exchanges and sectors in Europe in the positive region.

 

Mining and Core Resources companies topped the list of gainers in Europe with a rise of 1.7%, and the automakers sector also rose 1.5%.

 

China's exports fell by 1.3% in June, higher than expectations of a 2.0% decline, as China, the world's largest consumer of metals and commodities, is engaged in a fierce trade war with the United States.

 

On Thursday, the International Monetary Fund (IMF) urged the European Central Bank to add new incentives to ease the growing economic risks, the IMF warned that the euro-zone economy is facing the risks of global trade tensions, Britain's break-up from the EU and Italy's debt crisis.

 

S&P 500 futures rose 0.3%, the highest level ever before the opening of the official session on Wall Street, as the index ended yesterday's session rising by 0.2%, the third daily gain in a row.

 

Euro Stoxx 50 index rose 0.2%, while in France, the CAC 40 index gained more than 0.5% to top the gainers list in Europe, with Germany's DAX rising by 0.1% and in London the FTSE 100 has added 0.2%.

 
 
 
  Symbol Last Change Chg.%
1.1140
0.0042
0.3789%
1.2289
0.0135
1.1107%
17.418
0.314
1.834%
53.880
-0.920
1.679%
59.10
-0.82
1.37%
1526.175
13.910
0.920%
 
 
US
 
Europe
 
Asia