European stocks finish sharply higher

Monday, 11. July 2016 17:42

Stock markets across Europe saw a day of high gains. The inspiration came from Japan where Nikkei 225 jumped almost 4% after the election victory of incumbent prime minister's liberal democrats. PM Shinzo Abe (pictured) promised more 'Abenomics' measures, and was set to award the markets with another 10 trillion yen (cca €88 billion, $98 billion) in a new stimulus package.

The pan-European Stoxx 600 finished up 1.62% and the Euronext 100 rose 1.49%, with industrial stocks surging over all others.

In Germany, the DAX index ended 2.08% higher at 9,830 points, with ThyssenKrupp, Infineon and Siemens stealing the show, and no losers for the day.

French CAC 40 rose 1.76% to close at 4,264 points. The winners: ArcelorMittal, LafargeHolcim, Schneider Electric.

In London, the FTSE 100 was up 1.40% to 6,682 points. Mining companies such as Anglo American, Glencore and Fresnillo nested the top gainers' positions along with banks, while Rolls-Royce lost the most.

The Italian FTSE MIB added 1.20% to 16,259 points with banks (but not all of them) and industrials being fastest advancers.

The Spain's Ibex 35 was up 1.41%. The Swiss Market Index added 0.98%.

The euro was 0.08% weaker against the U.S. dollar, and fell 0.50% versus British pound, while inching down 0.04% compared to the Swiss franc, all at 5:40 p.m. CET. The currency gained 2.02% against the Japanese yen, which weakened after the monetary stimulus announcement. Gold fell 0.56% to 1,358.62 per fine ounce.

Brent fell 0.34% to $46.60 a barrel and WTI crude was 0.37% lower at $45.24 a barrel at ICE Futures Europe at 5:30 p.m. CET.

 

Image: EPA / Kiyoshi Ota

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Breaking the News / ZR