Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

EUROPE MARKETS: Europe Stocks Jump After German Ifo Data

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 10:24am CEST

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- European stock markets staged broad-based gains on Friday, as investors moved back into risk assets on the back of recent days' heavy selloff after German business-climate data surprised to the upside.

The Stoxx Europe 600 index gained 0.7% to 286.94, climbing back after a 1.5% drop on Thursday.

Shares of Alcatel-Lucent added 3.3%, after the telecom-equipment maker appointed Michel Combes, former head of Vodafone Group PLC's (>> Vodafone Group plc) European operations, as new chief executive. Additionally, HSBC lifted the stock to neutral from underweight.

Shares of Elan Corporation PLC rose 3.1%. The biotech firm said it would buy back $1 billion of its own shares, using money from the sale of its multiple-sclerosis drug Tysabri.

For the broader European stock market, upbeat data out of Germany helped lift the trading mood. The Ifo Business Climate index jumped to 107.4 in February, exceeding expectations of a 104.7 reading.

Investors also trained their attention on generals elections in Italy over the weekend, with worries a new government will fail to follow up on the country's current reformist drive.

Italy's FTSE MIB index posted steep losses this week, on track for a 1.7% weekly loss, but was up 1.2% to 16,207.50 on Friday.

Among other country-specific indexes, France's CAC 40 index added 1% to 3,659.75, with banks on the rise. Shares of Société Générale SA rose 1.9% and Credit Agricole SA put on 1.7%.

In Germany, Deutsche Bank AG (>> Deutsche Bank AG) climbed 1.2%. The DAX 30 index traded 0.5% higher at 7,621.81.

And in the U.K., J Sainsbury PLC gained 2%, after Citigroup lifted the supermarket retailer to buy from neutral.

Miners were also higher in London, tracking gains for metals prices. Shares of Rio Tinto PLC (>> Rio Tinto plc) added 1.4% and BHP Billiton PLC (>> BHP Billiton Limited) nudged 1.2% higher.

The FTSE 100 put on 0.6% to 6,330.80.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
11:04p CABOT CORPORATION : Reports Third Quarter Fiscal 2016 Results
11:04p PACIFIC CONTINENTAL CORPORATION : CEO and COO to Present at Keefe, Bruyette & Woods 2016 Community Bank Investor Conference
11:04p TERADYNE : Reports Revenue Growth in Second Quarter and First Half 2016
11:04p NEWMARKET CORPORATION : Reports Second Quarter and First Half 2016 Results
11:03p ENSCO PLC : Results of Operations and Financial Condition (form 8-K)
11:03p JERNIGAN CAPITAL : Procures Equity Financing Commitment
11:02p PHILIPPINE STOCK EXCHANGE : PSEi snaps 2-day losing streak
11:02p LAM RESEARCH : tops Street 4Q forecasts
11:02p CALLAWAY GOLF CO : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
11:02p EXTRA SPACE STORAGE : reports 2Q results
Latest news
Advertisement
Hot News 
13.38%EPIQ SYSTEMS : Agrees to $627 Million Buyout
11.64%GARMIN : Shares Soar on Strong Earnings
-9.54%CARTER : Shares Fall on Weakened Outlook
-28.57%ALERE : Faces Criminal Probe Over Medicare, Medicaid Billing
-9.40%Gannett Revenue Climbs but Misses Views
Most Read News
01:00p BREAKING BARRIERS : 2016 HR Technology Conference to Host Inaugural Women in HR Technology Pre-Conference Event
07/26 Wall St. mixed, Apple impresses and Twitter disappoints
04:45a Santander's Brazilian bounce offsets profit hit from one-offs, Brexit
Most recommended articles
05:00p FACEBOOK : trumps estimates on blistering ad sales growth
05:00pDJALERE : Faces Criminal Probe Over Medicare, Medicaid Billing -- Update
04:59p Yen slips as central banks' views leave stocks mixed
04:56pDJAmgen Profit Rises 13%, 2016 Outlook Raised
04:56pDJGoPro Reports Loss, but Results Top Expectations