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European stocks jump as carmakers, HelloFresh rally

Published 08/11/2020, 03:23 PM
Updated 08/11/2020, 03:30 PM
© Reuters.
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Aug 11 (Reuters) - European stocks rose for a third straight
session on Tuesday as automakers gained on strong China sales
data, with hopes of a steady economic recovery from the
coronavirus crisis boosting global sentiment.
The pan-European STOXX 600 index .STOXX rose 1.2% by 0716
GMT, led again by a rally in growth-sensitive cyclical sectors
like travel and leisure .SXTP , miners .SXPP and energy firms
.SXEP .
Automakers .SXAP rose 2.8% after data showed China's auto
sales in July climbed 16.4% from a year earlier, the fourth
consecutive month of gains as the world's biggest vehicle market
comes off lows hit during coronavirus lockdown. German meal-kit delivery firm HelloFresh HFGG.DE , whose
shares have more than doubled in value this year, rose 5.6%
after it raised its full-year guidance. Investors globally took heart from signs that another round
of U.S.-China sparring appears not to have spilled over into
trade, with hopes of additional U.S. fiscal stimulus boosting
the sentiment. MKTS/GLOB
UK's FTSE 100 .FTSE climbed 1.3% even as data showed the
number of people in work in Britain fell by 220,000 in the three
months to June, the most since 2009.

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