FX & CFD trading involves significant risk
Most European stocks climbed as investors awaited reports that may show the U.S. economic recovery is gathering pace following the harsh winter. U.S. index futures were little changed, while Asian shares advanced.
The Stoxx Europe 600 Index gained 0.2 percent to 336.99 at 10:28 a.m. in London as more than three stocks rose for every two that fell. The benchmark has climbed 3.9 percent since March 24 as better-than-forecast U.S. consumer-confidence data signaled the world’s largest economy has rebounded from the bad winter.
“Stabilizing growth and disinflationary pressures in recent data globally have been the signal to buy stocks,” Daniel Weston, a portfolio manager at Aimed Capital GmbH in Munich, said in an interview. “The room for continued accommodative policy remains while the inflation genie is kept in the bottle, leading investors to continue being bullish stocks.”
A report from ADP Research Institute will probably show that U.S. companies added more workers last month than in February. A separate release from the Commerce Department at 10 a.m. may show factory orders climbed in February. They dropped in January. Both reports had shown weakness at the beginning of the year as unusually harsh winter temperatures suppressed economic activity.
Deutsche Post advanced 3.6 percent to 28.15 euros after saying earnings before interest and taxes will rise to as much as 5.22 billion euros ($7.2 billion) by 2020 under a new strategy. Ebit will grow at an average 8 percent a year, the company said in a presentation. The new strategy will focus on expanding into emerging economies through organic growth, rather than buying businesses to move into new markets.
Neste Oil, a Finnish maker of renewable diesel, rallied 5.3 percent to 15.82 euros. The chairman of the Senate Finance Committee, Ron Wyden, proposed retroactively extending expired tax credits for biodiesel and renewable diesel -- or refined vegetable oil -- until the end of next year.
Alcatel-Lucent SA (ALU) rose 3.3 percent to 3.04 euros. Natixis SA raised the network-equipment maker to buy from neutral, saying that telecommunications companies will increase their capital expenditure. Alcatel-Lucent has deals with China Mobile Ltd. and Bouygues SA.
Deutsche Boerse lost 2.2 percent to 56.57 euros. The operator of the Frankfurt stock exchange said the U.S. Attorney for the Southern District of New York has made Clearstream Banking SA the subject of a criminal investigation in connection with alleged violations of U.S. money-laundering and Iran-sanction laws. Deutsche Boerse said Clearstream will co-operate with the probe, which is at a very early stage.
FTSE 100 6,667.79 +15.18 +0.23%
CAC 40 4,430.54 +3.82 +0.09%
DAX 9,632.8 +29.09 +0.30%
|remaining time till the new event being published|
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.