FX & CFD trading involves significant risk
European stocks advanced after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy will continue to need stimulus measures. U.S. stock-index futures and Asian shares also rose.
The Stoxx 600 increased 0.7 percent to 297.03 at 9:38 a.m. in London. The equities benchmark rose to its highest level in almost a month this week after Alcoa Inc. started the U.S. earnings season with results that beat analysts’ estimates.
The Federal Open Market Committee released minutes of the June 18-19 meeting that showed about half of the 19 participants wanted to halt $85 billion in monthly bond purchases by the end of the year. At the same time, the minutes showed many Fed officials wanted to see more signs employment is improving before backing a trim to bond purchases.
“Highly accommodative monetary policy for the foreseeable future is what’s needed in the U.S. economy,” Bernanke said yesterday after the minutes were released, in response to a question following a speech in Cambridge, Massachusetts.
Ashmore gained 7.5 percent to 377.9 pence after it reported net inflows of $4.5 billion in its fiscal fourth quarter. The U.K. fund manager focused on emerging markets said conditions were more challenging toward the end of the quarter.
Hays Plc advanced 4.1 percent to 98.85 pence after saying its fiscal fourth-quarter total net fees increased 3 percent. The U.K. recruiter forecast full-year operating profit at the top of the 112.3 million pound ($169.7 million) to 125.5 million pound range of market estimates.
BHP Billiton gained 4.2 percent to 1,793 pence. Rio Tinto Group added 5.1 percent to 2,847.5 pence. Anglo American Plc rose 5.3 percent to 1,335 pence. A gauge of commodity producers climbed the most among the 19 industry groups on the Stoxx 600.
Fresnillo Plc, a silver and gold mining and exploration company, surged 9.7 percent to 991 pence, leading gainers on the Stoxx 600.
FTSE 100 6,548.89 +43.93 +0.68%
CAC 40 3,866.63 +26.10 +0.68%
DAX 8,150.59 +84.11 +1.04%
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.