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European stocks approach strong notes on vaccine rollout news, silver prices rise

European stocks ended with a strong note on Monday, riding a positive global clue. Stock prices rose by encouraging vaccine rollouts, soaring silver prices, and progress on corporate earnings expectations.

In terms of vaccines, EU Chairman Ursula von der Reyen said AstraZeneca provided about 40 million doses in the first quarter, an additional 9 million doses compared to last week’s proposal, a week earlier than planned. Said to start.

Material stocks were one of the biggest drivers of the rise as silver prices soared to a five-month high due to Reddit-fueled enthusiasm.

Investors shrugged data from Destatis, showing that German retail sales fell sharply in December. Coronavirus..

The Pan-European STOXX 600 rose 1.24%. The UK FTSE 100 rose 0.92%, the German DAX rose 1.41%, the French CAC 40 rose 1.16% and the Swiss SMI rose 1.41%.

Above all market Europe, Austria, Belgium, the Czech Republic, Denmark, Finland, Iceland, Ireland, the Netherlands, Norway, Poland, Russia, Spain, Sweden, Turkey and Ukraine ended with sharp to moderate growth. Greece and Portugal ended flat.

In the UK market, Fresnillo rose about 9%. JD Sports Fashion increased 7% after sportswear retailers signed a conditional agreement to purchase Baltimore-based DTLR Villa LLC for $ 495 million.

Polymetal International, M & G, Associated British Foods, Berkeley Group, Taylor Wimpey, Barrat Developments, Kingfisher, DCC, Avast, Anglo American and Rentokil Initial increased by 3-5.2%.

Meanwhile, Pearson and Hargreaves Slansdown lost 5.6% and 4.6%, respectively. British Land, BP, Royal Dutch Shell and AstraZeneca also plummeted.

In the German market, Deutsche Wonen, Adidas, Covestro, Bonovia, SAP, Siemens and Munich Re increased by 2-3.5%, while Fresenius Medical Care and Fresenius decreased sharply.

In France, Teleperformance, Worldline, Essilor, Atos, Publicis Groupe, Cap Gemini, LOreal, Schneider Electric, Bouygues and ArcelorMittal increased by 2-3.5%.

Both Technip and Unibail Rodamco fell by more than 4%. Safran and Total each lost about 1%.

In economic news, German retail sales fell 9.6% month-on-month in December, reversing the 1.1% increase in November. This is the first fall in three months, well above economists’ forecast of -2.6%.

On an annual basis, retail sales growth slowed from 5% in November to 1.5%. This was the slowest increase in the current 8-month growth sequence. Economists predicted that sales would increase again by 5%.

According to IHS Markit, France’s final Manufacturing Purchasing Managers Index (PMI) fell from 55.2 in December to 54.8 in January as new blockades were taken across the continent. The readings were slightly above the initial 54.7 “flash” estimates, but the momentum was the fastest in six months.

The eurozone manufacturing sector continued to expand earlier this year, although the pace slowed as new blockades and supply shortages created challenges for producers, according to final IHS Markit data.

The final Manufacturing Purchasing Managers Index fell from 55.2 in December to 54.8 in January. The flash reading was 54.7. However, the sector has expanded for the seventh straight month, with January numbers being one of the highest in the last two and a half years.

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European stocks approach strong notes on vaccine rollout news, silver prices rise

Source link European stocks approach strong notes on vaccine rollout news, silver prices rise

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