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 LeadersCalendar 

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
05:21a PEUGEOT : Iran claims 200 million euros compensation from Peugeot
05:18a ZENITH BANK : UK establishes Presence at Dubai International Financial Centre
05:14a Ex-Anglo Irish CEO says will waive extradition to Ireland if granted bail - report
05:12a MINISTRY OF REFUGEES AND REPATRIATIONS OF ISLA : EU calls on Turkey to let Syrian refugees cross border
05:06aDJThailand's TCC Group to Buy Groupe Casino's Stake in Big C -- Update
05:03a TAINAN ENTERPRISES : UPDATE4: Taiwan quake death toll hits 26, over 120 people missing
05:02a LSK : For Kiev's Jewish refugees, little thought about tomorrow
04:56a MONUMENT MINING : Enters Earn-In and JV Agreement on Matala Gold Project in DRC
04:55a MSCI : fluctuations throughout the past week
04:49a BIS UK DEPARTMENT FOR BUSINESS INNOVATIONS & SKI : New chair and deputy chair of women on boards review will champion female executives
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : & Power signs heads of agreement to farm-in to Indonesian gas project
GWG : CEO Jon Sabes Appears on TheStreet.com
Technology rout pushes Nasdaq to lowest close since 2014
Lions Gate Plummets Amid Lack of Earnings Guidance
LINKEDIN : forecasts weak first-quarter profit, shares plunge
Most Read News
02/06 Hallman Extends Lead On Day Three At Walmart FLW Tour On Lake Okeechobee Presented By Ranger Boats
02/06 COLBY COLLEGE : Women’s hockey has same result in setback
02/06 OFFICE OF GOVERNOR OF STATE OF HAWAII : DLNR NEWS RELEASE: Salvage Work to Begin on Grounded Vessel at Molokai
02/06 APGA AUSTRALIAN PIPELINES AND GAS ASSOCIATION LT : Natural gas is vital to our economy
02/06 VICTORIA POLICE : B-Double dunce
Most recommended articles
05:14a Ex-Anglo Irish CEO says will waive extradition to Ireland if granted bail - report
05:06aDJThailand's TCC Group to Buy Groupe Casino's Stake in Big C -- Update
04:10aDJChina's Forex Reserves Plunge to More Than Three-Year Low -- 2nd Update
03:19a As Big Oil shrinks, boards plot different paths out of crisis
02:06aDJChina's Forex Reserves Lowest in More Than Three Years -- Update