Publicité
European shares at six-year high
European stocks advanced to new six-year highs yesterday, boosted by strong gains in Asian markets, while UK retailers such as Tesco rose on robust industry sales data. Pharmaceuticals including Roche and GlaxoSmithkline were also higher and supported the broader market.
Thepan-European FTSEurofirst 300 index was 0.3 percent stronger at 1,542.7, a new six-year high, extending a three-day winning run. The index hit an intra-day high of 1 544.8 and is now up 4 percent so far this year, adding to last year’s 16 percent rally.
London’s FTSE 100 index and Paris’s CAC-40 both rose 0.3 percent and set new six-year highs. Frankfurt’s DAX gained 0.25 percent, while Zurich’s SMI jumped 0.4 percent to 9,292.6, a record high. Tokyo’s Nikkei index closed nearly 0.4 percent higher on strong company results and outlooks, while Hong Kong’s Hang Seng index rose 1 percent.
Reports from some European companies, however, disappointed, with BP down 2 percent after the company lowered its production growth targets, while telecoms firm KPN followed its peers in reporting weaker-than-expected results.
“The strategy update is very, very poor. We expect the market to react negatively over the day with downgrades expected post company contact,” said a trader on BP’s results and outlook. “Volumes will be lower than the market expected and the long-term volume guidance is seriously curtailed.”
Results from US companies are in focus, while comments from US. Federal Reserve officials including Chairman Ben Bernanke will be studied for clues on the likely path for US interest rates.
UK retailers were supported by strong industry data and continued bid speculation around Sainsbury, which rose 1 per cent. Tesco added 2.3 per cent, Morrison advanced 3 percent and Home Retail Group increased 1.1 percent.
Data showed British retail sales had the strongest January for three years, up 3.1 percent last month.
Publicité
Publicité
Les plus récents
