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European stocks rise in early trading

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Major stock markets across Europe advanced in early trading on Tuesday as investors ignored weak PMI numbers in China and cheered the increased possibility of ECB easing next week.

    At the time of writing, Stoxx 50 index was up almost 0.90%. Germany’s DAX and France’s CAC were up 0.90% and 0.30% respectively. UK’s mining heavy FTSE index was up 0.20%. Stoxx 600 was down 0.32%.

    UK’s Barclays and Ashtead were down 7.3% and 5.8% respectively. Meanwhile, Shares in London stock exchange rose more than 5% after report that ice plans a counter offer for lse.

    Shares in Norway’s Seadrill were up 8.3% as well, tracking the strength in oil prices.

    China’s manufacturing data released today showed another contraction in the activity. However, European markets have remained resilient as speculation is on the rise that ECB may have to do more than just a 10bps rate cut next week in order to counter deflationary forces.
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