A good day in Europe

Wednesday, 13. April 2016 17:46

Stock markets across Europe enjoyed a rally on Wednesday, encouraged by good export data from China. There was a significant rise in mining sector, which boosted trade in London, while banking sector pulled up main stock market indices all over the continent. Industrial production in the European Union fell 0.08% in February, pressing some industry stocks.

In Milan, the FTSE MIB jumped 3.76% to 18,101 points. Banks nested the winning post: Banca Monte dei Paschi di Siena rocketed up 11.77%, Banca Popolare Emil Romagna followed with rise of 11.47%, and Unicredit, UBI Banca, Intesa Sanpaolo and others saw gains of over 8% each.

The London's FTSE 100 rose 1.78% to 6,353 points, boosted by mining sector: Anglo American Plc was lifted up 11.22%, BHP Billiton up 9.18% and Rio Tinto rose 7.60%. Standard Chartered was the best performer among banks with gains of 10.64%. Shares of retailer Tesco plunged 7.05% despite good earnings report a day before.

In Paris, the CAC 40 index climbed up 3.32% to 4,473 points, with ArcelorMittal shooting up 10.00%, Société Générale rose 7.46% and BNP Paribas added 5.89%. Consumer company Accor dropped 0.77% and industry group Vinci dipped 0.15%.

The German DAX index rose 2.71% to 10,026, breaking through psychologically important 10,000 mark. Deutsche Bank AG jumped 9.91% and Commerzbank AG followed rising 7.03%. Vonovia was arguably the day's only decliner, losing 0.25%.

In Zurich, the Swiss Market Index rose 1.87% to 7,934 points. CS Group added 8.12%, and LafargeHolcim carved out a 6.55% larger chunk. Actelion lost 0.87%, and Givaudan dropped 0.52%.

The Netherlands' AEX Index added 2.24%, with ArcelorMittal's 10% rise at the top, and Aegon rising 4.87%. KPN lost 2.16%.

In Wien, the ATX rose 1.90% thanks to industry and banking sectors, while the BEL 20 in Brussels also prospered on banks, with ING Groep and KBC leading in gains.

In Greece, the Athex index fell 0.83%.

The euro was losing 0.98% to the U.S. dollar, 0.50% versus the U.K. sterling, and 0.29^versus the Japanese yen, while adding 0.09% against the Swiss franc by 5:44 p.m. CET.

Oil attempted to recover before market close, but fell again: Brent was down 1.11% to $44.20 and WTI dropped 0.88% to 41.80 by 5:45 p.m. CET.

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Breaking the News / ZR