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European stocks turn higher, will the rally last?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock markets across Europe erased early losses to trade moderately higher, but the gains are being capped by losses in mining stocks.

    At the time of writing, the pan-European Euro Stoxx 50 index was up 0.5%. Stoxx 600 was up 0.15%. Germany’s DAX was up 0.20%. UK’s mining heavy FTSE index was up 0.60% despite losses in the mining stocks.

    UK’s Anglo American and Antofagasta were down 3% to 5%. Shares in Lufthansa AG were down 1.2%. Meanwhile, German lender Deutsche Bank was up 2.46%.

    It remains to be seen if the indices manage to stay in the positive territory, especially since the IEA came out bearish on oil prices via its monthly report. A possible drop in oil prices could send stock prices lower again.
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