European stocks close with bright notes for two consecutive days

European stocks closed with a strong note on Tuesday, expanding profits from the previous session. coronavirus Relaxed, data showed surprisingly strong German industrial output growth in October.

The market also responded positively to the news that the People’s Bank of China released about 1.2 trillion yuan ($ 188 billion) of liquidity into the financial system through lowering the reserve requirement ratio of most banks.

Strong commodity prices are also market..

Investors have largely avoided concerns about the potential for a faster pace of declining by the Federal Reserve Board.

The Pan-European STOXX 600 rose 2.45%. The UK FTSE 100 rose 1.49% and the German DAX and French CAC 40 rose 2.82% and 2.91%, respectively. Switzerland’s SMI has advanced 1.12%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey all have some benchmark indexes. The market is rising between 2.5 and 4%.

In the UK market, Anglo American Plc surged 6.5%. Ferguson, BHP Group, Aveva Group, Rio Tinto, Evraz and Antofagasta increased by 4.3-6%.

Ashtead Group increased by about 4% after raising expectations for the whole year. Scottish Mortgage, Flutter Entertainment, 3i Group, Sage Group, Informa, Halma, JD Sports Fashion, Glencore and RightMove have advanced 3-4%.

Crimson Tide’s share price has risen significantly. The provider of mpro5 solutions has announced that it has signed a master service agreement with food service company Compass Group for a non-UK based business.

In Paris, Kering, STMicroElectronics, ArcelorMittal, LVMH, Technip, LOreal, Essilor, Hermes International, Dassault Systemes, Teleperformance, Schneider Electric, Capgemini, Saint Gobail and Airbus increased by 3-6%.

WorldLine shares rose about 2.6% as Eurobank, one of Greece’s four largest creditors, agreed to sell 80% of the merchants it acquired. jobs To a French payment company.

In the German market, Volkswagen and Porsche Automobile increased by 8.7% and 8.5%, respectively. Infineon Technologies, Zalando, Deutsche Post, HelloFresh, Siemens Healthineers, Adidas, Puma, Sartorius, Brenntag and Linde increased by 3 to 6.3%.

SAP, Deutsche Bank, Bayer, Merck, Siemens, Daimler and Allianz also rose significantly. Symrise’s stake is Giraffe Foods Inc, a supplier of fragrance, flavor, food, nutrition and cosmetic ingredients based in Mississauga, Ontario, Canada. It rose after announcing that it had signed an acquisition agreement for.

In economic news, Germany’s industrial production recovered faster than expected in October, data released by Destatis on Tuesday revealed.

Industrial production increased by 2.8% on a monthly basis in October, reversing the 0.5% decrease in September. Production was expected to grow by 0.8%. Industrial production fell 0.6% year-on-year, surpassing the 0.4% decline in September.

Germany’s economic confidence in December weakened as supply bottlenecks continue to weigh on production and retail sales, according to a study by the ZEW-Leibniz Center for European Economic Research. The ZEW index of economic sentiment fell 1.8 points to 29.9 in December. Nevertheless, the score remained above the expected level of 25.1.

Eurozone Economy Eurostat estimates have expanded, primarily driven by household spending, as initially estimated in the third quarter. Gross domestic product grew at a steady pace of 2.2% in the third quarter. The second quarter estimate has been revised upward from 2.1% and the third quarter rate has been confirmed by Eurostat.

On an annual basis, GDP has advanced 3.9% instead of the previously estimated 3.7% increase.

UK home prices have risen for the fifth straight month, with average home prices in November hitting record highs, reflecting the resilience of the home market. Findings from Lloyds Bank’s subsidiaries Halifax and IHS Markit show.

The house price index rose 8.2%, the same as in October, the highest level since June. House prices in November rose 1% month-on-month, as in October. Economists predicted a 0.8% increase.

Switzerland’s unemployment rate fell in November, dropping from 2.7% in October to seasonally adjusted 2.5%, according to data from the National Economic Affairs Bureau. On an unadjusted basis, the unemployment rate in November was 2.5%, the same as the previous month.

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European stocks close with bright notes for two consecutive days

Source link European stocks close with bright notes for two consecutive days

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