Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

EUROPE MARKETS: Europe Stocks Jump After German Ifo Data

02/22/2013 | 04:24am US/Eastern

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

Latest news
Date Title
<1m ago MORE THAN A HANDFUL OF SOUL… James Brown Classics Now Available Worldwide for Digital Purchase and Streaming
1m ago VASCULAR SOLUTIONS : posts 3Q profit
1m ago AMERICAN EXPRESS : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits (form 8-K)
1m ago ELECTRONICS FOR IMAGING : posts 3Q profit
1m ago QUIDEL : beats Street 3Q forecasts
3m ago BURGER KING WORLDWIDE : Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant (form 8-K)
3m ago SEACOAST BANKING OF FLORIDA : Elects New Bank Director
3m ago GAMCO INVESTORS : Gabelli Equity Trust Concludes Successful Rights Offering
3m ago LUCARA DIAMOND : Exceptional Stone Tenders Bring in $136 Million in 2014
3m ago COHU : to Announce Third Quarter 2014 Results
Latest news
Advertisement
Hot News 
DOMINION MIDSTREAM PARTNERS : Closes Initial Public Offering
TUESDAY SECTOR LAGGARDS : Metals & Mining, Education & Training Services
STRATMIN GLOBAL RESOURCES : Seals Offtake Agreement With Independent Global Graphite Merchant
BLUE EARTH : INVESTOR ALERT: Investigation of Blue Earth, Inc. Announced by Glancy Binkow & Goldberg LLP
OCWEN FINANCIAL : Addresses Letter From New York Department of Financial Services
Most Read News
50m ago Wall St. extends rebound on earnings, ECB report
8h ago Total CEO de Margerie killed in Moscow as jet hits snow plough
28m ago Global shares rally on U.S. tech earnings, ECB purchase plans
1d ago GULFMARK OFFSHORE : Announces Third Quarter 2014 Operating Results
1d ago Chipotle stock dips as sales growth forecasts come down
Most recommended articles
4m agoDJOil Prices Edge Higher on Chinese Data
5m agoDJCOCA COLA : Correction to Coke Promises Cost Cuts Story
5m ago Broadcom third-quarter results beat views, stock jumps
8m agoDJGlobal X, J.P. Morgan to Launch Tactical ETFs
8m ago After huge jet orders, budget airlines eye rich seam of aircraft leasing
Dynamic quotes  
ON
| OFF