Investing.com - Financial Markets Worldwide
⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

China rally triggers gains in European cyclical stocks

Published 07/06/2020, 03:25 PM
Updated 07/06/2020, 03:30 PM
© Reuters.
UK100
-
FCHI
-
DE40
-
BDEV
-
PSN
-
TW
-
STOXX
-
SOON
-
CSI300
-
SXEP
-
SX7P
-
SXAP
-
SXNP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
July 6 (Reuters) - European shares jumped in early trading
on Monday, with a rally in China's markets setting an upbeat
tone as investors banked on the world's second biggest economy
to lead a recovery from the coronavirus crisis.
The pan-European STOXX 600 .STOXX rose 1.7% by 0714 GMT,
with stocks exposed to China, like carmakers .SXAP ,
industrials .SXNP , energy firms .SXEP and luxury goods
makers rising strongly, while banks .SX7P also rallied.
The German DAX .GDAXI , London's FTSE 100 .FTSE and
France's CAC 40 .FCHI all rose about 2%.
China's blue-chip index .CSI300 jumped over 5%, as
investors stocked up on cheap funding to invest in an economy
that analysts predict will recover faster and better than other
major countries battling new waves of infections. .SS
UK homebuilders Persimmon PSN.L , Taylor Wimpey TW.L and
Barratt Developments BDEV.L gained about 5% after reports that
British Finance Minister Rishi Sunak planned to raise a property
tax threshold, among other steps to reduce the economic toll of
the health crisis. Sonova SOON.S , the world's biggest hearing aid maker, rose
5.4% after saying it would close some stores and cut jobs as it
expects first-half results to only partially recover from the
pandemic.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.