FX & CFD trading involves significant risk
European stocks advanced after posting their biggest weekly gain this year. U.S. stock-index futures and Asian shares rose.
The Stoxx Europe 600 Index rose 0.4 percent.
“In the short-term, speculative froth has been removed,” said Benedict Goette, chief executive officer of Compass Capital AG in Zurich, which helps oversee about 700 million Swiss francs ($785 million). “We are currently looking for another little up-leg into March or so. Today looks like a calm day, with U.S. markets closed.”
The Stoxx 600 advanced 2.5 percent last week after the Federal Reserve said its stimulus policy will remain responsive to economic data and as companies from Renault SA to ThyssenKrupp AG reported profit that beat analysts’ projections.
SGL Carbon jumped 11 percent to 30.36 euros. German newspaper Handelsblatt reported that SGL Carbon and BMW, which owns a 15.7 percent stake in the company, are investing more than 100 million euros ($137 million) to double carbon-fiber production to 6,000 tons a year. BMW slipped 0.8 percent to 85.28 euros.
MorphoSys added 3.2 percent to 65.51 euros. The German biotechnology company said it received a milestone payment from Novartis and projected initiation of a Phase 1 clinical trial for an anti-inflammatory treatment.
Luxottica Group SpA climbed 2 percent to 39.63 euros. Chief Executive Officer Andrea Guerra said he won’t join the new Italian government and will remain at his job at the world’s largest maker of eyeglasses.
FTSE 100 6,735.59 +71.97 +1.08%
CAC 40 4,340.5 +0.36 +0.01%
DAX 9,675.14 +12.74 +0.13%
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.