Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

React to this article
Latest news
Date Title
05:48a OOREDOO : unveils enhanced Wi-Fi and support services for Fibre customers
05:47a TWi Pharmaceuticals President & CEO Ms. Tina Guilder will resign from her current roles and Chairman Dr. Chih-Ming Chen will become interim President & CEO, leading the Company in its continued efforts to develop high-entry-barrier generics for the U.S. market
05:43a AMEC FOSTER WHEELER : Foster Wheeler says ready to return to Iran
05:41a VOLKSWAGEN : Tribunal seals end of failed Volkswagen-Suzuki partnership
05:41a VOLKSWAGEN : Tribunal seals end of failed Volkswagen-Suzuki partnership, Suzuki to buy back VW's stake
05:40a TECOM : Bee'ah awarded integrated waste management and recycling contract for Burj Khalifa
05:35a CATERPILLAR : Outgoing VC president leaves legacy of workforce training
05:30a 1PM : Holdings in Company
05:29a NEXTEER AUTOMOTIVE : Reports First Half 2015 Interim Financial Results
05:19a PUBLIC STORAGE : City officials, police work to curb thefts at Santa Cruz storage biz
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 28 augustus 2015 - PRESS RELEASE: Announcement OIM 28 August 2015
MOLYCORP : Massive Mojave mine Molycorp to close, taking nearly 500 jobs
CHALLENGER ACQUISITIONS : Says It Is Focused On Integrating Starneth
MAVEN INCOME & GROWTH VCT : 4 Net Asset Value Total Return Rises
EUROCONSULT : 1,400 Satellites Projected to Launch Over Next Decade
Most Read News
08/29 NINTENDO NEWS : Xenoblade Chronicles X Special Edition Launches on Dec. 4
01:06a NIOC NATIONAL IRANIAN OIL : UKs Oil and Gas Giant Expresses Readiness to Return to Iran
01:05a Scott Dunn announce AED 3 million refurbishment of Chalet Eagle's Nest
02:09a Kids' lives too sweet
01:48a Amal's a hot shot
Most recommended articles
05:08a China fears linger as focus on Fed sharpens
05:02aDJCHINA CONSTRUCTION BANK : 1st Half Net Profit Up 0.9%
04:20a Despite raids, Macau pawn shops still help flout currency rules
03:34a Suzuki Motor to buy back VW stake as tribunal settles long feud
12:55a China is growing at 'reasonable' pace despite pressures - Premier Li