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European stocks rise as Daimler earnings lift automakers

Published 04/16/2021, 03:15 PM
Updated 04/16/2021, 03:20 PM
© Reuters.
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
April 16 (Reuters) - European stocks hit a record high on
Friday after strong U.S. and China data spurred optimism about a
speedy global recovery, while automakers got a boost following
Daimler 's better-than-expected profit.
The pan-European STOXX 600 index .STOXX rose 0.1% by 0706
GMT, on course for its seventh straight week of gains. The
German DAX .GDAXI also gained 0.1%, while UK's FTSE 100
.FTSE was up 0.4%.
Global stocks stood near record highs after data showed
China's economic recovery quickened sharply in the first quarter
from last year's deep coronavirus-led slump. German car and truck maker Daimler DAIGn.DE gained 2.1% as
higher vehicle prices and strong demand in China helped it post
a better-than-expected surge in quarterly operating profit. The
wider auto index .SXAP rose 1%. German meal kit delivery firm HelloFresh HFGG.DE jumped
5.6% after its first-quarter preliminary results beat
expectations, leading to a 2021 outlook hike. Lancome maker L'Oreal OREP.PA slipped 1.8% despite posting
a further pickup in sales in the first quarter.

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