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European stocks climbed, rebounding from a three-week low, before U.S. reports that may help gauge the strength of the world's largest economy. U.S. index futures were little changed, while Asian shares retreated.
The Stoxx Europe 600 Index added 0.2 percent to 303.14 at 9:46 a.m. in London. Contracts on the Standard & Poor's 500 Index lost 0.2 percent. The Stoxx 600 dropped 1.9 percent yesterday amid concern in the U.S. Treasury market that the Fed will begin to taper bond purchases as the world's largest economy strengthens. The gauge is still heading for a 2.2 percent advance in May for a 12th straight month of gains. The volume of shares changing hands in companies listed on the Stoxx 600 was 17 percent lower than the average of the past 30 days, according to data.
U.S. data today may show an index of pending house sales increased 1.5 percent in April, matching the gain the previous month, economists forecast ahead of a report from the National Association of Realtors. The Commerce Department will release revised data that may show the U.S. economy grew at a 2.5 percent annualized rate in the first quarter, the same as estimated last month.
Kazakhmys gained 2.9 percent to 344 pence and Glencore increased 2.4 percent to 335.5 pence. A gauge of mining companies was the best performer among the 19 industry groups in the Stoxx 600.
Pirelli advanced 3.3 percent to 8.88 euros after Europe's third-largest tiremaker was upgraded to neutral from sell by Goldman Sachs, which said automotive-related stocks in Europe are attractive because of their low valuations. Faurecia, which makes car interiors, increased 3.2 percent to 16.87 euros after Goldman added the company to its "conviction buy" list.
Renault SA declined 1.5 percent to 58.79 euros after Goldman Sachs downgraded France's second-biggest carmaker to sell from neutral.
FTSE 100 6,628.65 +1.48 +0.02%
CAC 40 3,990.76 +16.64 +0.42%
DAX 8,349.76 +13.18 +0.16%
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