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
Recommend:
0

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

Recommend :
0
React to this article
Latest news
Date Title
<1m ago O.PENVAPE : the Nation's Largest Cannabis Brand, Will Test Employees for Dangerous Drug Abuse
<1m ago Retailers Identify Multichannel Initiatives as Top Priority for Transforming Their Businesses
<1m ago ATLANTIS : Gaming Experts to Join ATIG Board of Directors
<1m ago GoHealth Provides Clarity and Coverage Options to Bridge the Gap Between Open Enrollment Periods
<1m ago SOLIDFIRE : Is Now Verified for Citrix Ready VDI Capacity Program
1m ago TELECOM OF NEW ZEALAND : New Vivaro set to shake up sector
2m ago National Insurance Employment Allowance
2m ago ECA, a subsidiary of Groupe Gorgé, announces acquisition in the airborne drones segment
3m ago FORD MOTOR : to sell Lincoln cars in China for first time
3m ago RESEARCH AND MARKETS : Global C4ISR Market (Command, Control, Communications, Computers, Intelligence, Surveillance, Reconnaissance, Land Systems, Airborne Systems and Naval Systems) 2014 - 2019
Latest news
Advertisement
Hot News 
HAYNES PUBLISHING : Third Quarter Hit By Us Inventory Returns, Weak UK
BLUR : Shares In Blur Group Plummet Due To Delayed Revenue Recognition
AKZO NOBEL : AkzoNobel publishes Q1 2014 results
ANGLO ASIAN MINING : Reduces 2014 Production Target
WEATHERFORD INTERNATIONAL LTD : Weatherford International Hits New Yearly High; Zogenix Issues Update on Zohydro ER
Most Read News
1h ago DIAGEO : Drop in Diageo takes the fizz out of FTSE
1h ago Google, IBM cast shadow
5h ago IBM's quarterly revenue sinks to 5-year low as hardware sales fall
1d ago Google misses revenue target, ad prices slide
1d ago BANK OF AMERICA : financial crisis costs become a recurring nightmare
Most recommended articles
1h ago Google, IBM cast shadow
1h ago DIAGEO : Drop in Diageo takes the fizz out of FTSE
04/10DJCarrefour Sales Grow at Fastest Pace in Two Years
24m agoDJFord Plans to Sell Five Lincoln Brands in China By 2016
25m ago JAPAN VICE ECONOMY MINISTER : Economy remains on firm footing after tax hike
Dynamic quotes  
ON
| OFF