FX & CFD trading involves significant risk
European stocks rose for a third day as manufacturing gains in China and the euro area boosted investors' confidence that the economic recovery is on track.
Euro-area manufacturing and services activity strengthened in July in a sign that a recovery in the 18-nation region is gathering pace. A combined purchasing managers index for both industries jumped to 54 this month from 52.8 in June, matching a three-year high reached in April, Markit Economics said. Economists in a Bloomberg News survey had predicted an unchanged reading of 52.8. Numbers above 50 indicate expansion.
National benchmark indexes rose in 14 of the 18 western-European markets today. France's CAC 40 climbed 0.8 percent, while Germany's DAX added 0.4 percent and the U.K.'s FTSE 100 gained 0.3 percent.
Nokia jumped 7.3 percent to 6.14 euros, its highest price since May 2011. The Finnish network-equipment maker that sold its mobile-phone business to Microsoft Corp. posted second-quarter earnings excluding some items of 6 euro cents a share. Analysts surveyed by Bloomberg had predicted 4.5 cents.
Danske Bank A/S advanced 4.6 percent to 162.90 kroner, its highest price since April 2008. Scandinavia's second-largest lender said net income will rise to as much as 13 billion kroner ($2.3 billion) in 2014. That compares with a forecast in May for as much as 12 billion kroner.
Logitech International SA jumped 15 percent to 13.90 Swiss francs for its biggest rally in six months. The world's biggest maker of computer mice raised its full-year 2015 guidance for operating income not based on Generally Accepted Accounting Principles to about $170 million from $145 million.
Dassault Systemes SA added 5.2 percent to 49.46 euros. The French developer of three-dimensional design software reported a 15 percent increase in revenue not based on International Financial Reporting Standards.
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.