EUROPE MARKETS: European Stocks Perk Up After German Growth Data
2018年2月14日 - 7:22PM
Dow Jones News
By Carla Mozee, MarketWatch
U.S. inflation report on tap
European stocks marched higher Wednesday, with Swiss banking
heavyweight Credit Suisse AG rising in the wake of its financial
results, as investors took on risk before the release of a widely
anticipated report on U.S. inflation.
How markets are moving
The Stoxx Europe 600 index advanced 0.8% to 373.49. All sectors
moved higher, led by the tech and utilities groups. On Tuesday, the
index lost 0.6%
(http://www.marketwatch.com/story/european-stocks-run-into-the-red-as-wall-street-sets-course-for-pullback-2018-02-13).
Germany's DAX 30 index picked up 0.8% to 12,293.25, and France's
CAC 40 index gained 0.8% to 5,148.47.
Spain's IBEX 35 also rose 0.8%, to 9,726.60. The U.K.'s FTSE 100
was up 0.7% at 7,220.19.
The euro bought $1.2349, down slightly from $1.2354 late Tuesday
in New York.
What's driving the market
European stock gains appeared to be stoked by Wall Street's
performance on Tuesday. U.S. stocks posted a third straight winning
session
(http://www.marketwatch.com/story/third-straight-win-for-us-stocks-in-doubt-as-dow-futures-tumble-more-than-100-points-2018-02-13),
and U.S. stock futures were gaining on Wednesday
(http://www.marketwatch.com/story/dow-on-pace-for-4th-win-in-a-row-as-market-braces-for-inflation-data-2018-02-14).
Wednesday's rally for European equities came before the release
of the U.S. inflation report
(http://www.marketwatch.com/story/inflation-fears-haunt-wall-street-again-but-investors-might-just-be-having-a-bad-dream-2018-02-10)
for January. The recent spike in volatility and violent selloffs in
global markets have emanated in part from worries that higher
inflation will lead the Federal Reserve to hike up interest rates
at a faster-than-expected pace.
The inflation data, alongside U.S. retail sales, are due at 1:30
p.m. London time, or 8:30 a.m. Eastern Time.
Ahead of that, Germany's gross domestic product by 0.6% in the
fourth quarter
(http://www.marketwatch.com/story/german-gdp-eases-to-25-in-q4-as-exports-pick-up-2018-02-14)
and by 2.9% a year earlier. The growth was aided by demand for
German exports, although the figures indicated slight easing from
0.7% in the fourth quarter.
What strategists are saying
"Bourses across Europe have started the day in positive
territory, taking the lead from a positive close in the U.S.," said
Fiona Cincotta, market analyst at City Index, in a note.
"Given the market's concerns of higher inflation and faster
interest rate hikes, a higher than expected CPI or retail sales
reading would in fact feed these fears. In this case there is a
chance that we could see another episode of last week: stock
markets and bond markets falling, whilst higher yields would boost
the dollar."
Stock movers
Credit Suisse Group AG (CSGN.EB) (CSGN.EB) gained 3.8% after the
bank posted a narrower-than-expected loss of 2.13 billion Swiss
francs
(http://www.marketwatch.com/story/credit-suisse-loses-1-bln-in-2017-on-us-tax-hit-2018-02-14)in
the fourth quarter. The lender did post its third straight
full-year net loss.
Sky PLC shares (SKY.LN) leapt 3.4% after the broadcaster
extended its rights to show Premier League soccer matches through
2022
(http://www.marketwatch.com/story/sky-extends-premier-league-rights-to-2022-2018-02-14),
at a cost of 1.19 billion pounds ($1.65 billion) a year.
(END) Dow Jones Newswires
February 14, 2018 05:07 ET (10:07 GMT)
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