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European stocks extend rally on oil rebound, corporate news

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The sentiment around the European stocks remains lifted on the back of a rebound in oil prices and upbeat regional corporate earnings reports.

    Moreover, a better-than expected German ZEW economic sentiment data combined with a positive close on the Asian equities, further bolstered investors’ appetite for risk.

    Most European indices hover near 2016 highs

    Germany's DAX 30 index rose 2.28% to trade at 10,351, while the UK's FTSE 100 index climbed 0.62% to 6,393. Among the other indices, the French CAC 40 index hiked 1.26% to 4,563, while the pan-European Euro Stoxx 50 index increased 1.47% to 3,113.

    On the corporate news front, the shares of the Swiss pharma company Roche rose over 1% on the back of a boost in the quarterly revenue. French food company Danone and cosmetics maker L’Oreal SA jumped 3.5% after their sales beat forecasts. Tullow Oil Plc led gains in energy shares as crude rose for the first time in five days.
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