European market brief . .

 

 

European stocks gained, U.S. index futures rebounded and oil rose as investors looked past concerns over global growth that sent shares and currencies lower in Asia.

Equity markets in Europe advanced for a second day this week as companies including Credit Agricole SA and Schneider Electric SE reported better-than-estimated results. Treasuries and the yen pared gains. Asian shares fell with South Korea’s won after China lowered the yuan’s daily fixing by the most in six weeks.

Central bank attempts to calm global markets this year amid unprecedented volatility have had mixed success, with Japanese shares initially falling after the Bank of Japan announced a move into negative interest rates. Janet Yellen has subsequently indicated the global ructions may delay further tightening of U.S. monetary policy.European shares brushed off the decline in Asia to extend this week’s rally. Investors cheered the latest earnings reports, chief among them French bank Credit Agricole’s promise of stable investor returns and a solid capital base.  After a strong start to the week for risk assets like stocks and oil the mood was a little more cautious, with so-called safe haven assets like the Japanese yen, government bonds and gold all moving higher.

Investors will watch oil as a barometer of broader market sentiment on Wednesday, in particular how a proposal from top exporters Russia and Saudi Arabia on Tuesday to freeze output is greeted by Iran, which was absent from the talks and is determined to raise production.

“While the commitment to freeze production at current levels underwhelmed, in the absence of any prospect of an agreement from Iran anything else was always going to be treated with a healthy dose of skepticism.

European market’s 

Name Price Change % Change 1-Day
FTSE 100 5,936.21 +74.04 +1.26%
DAX 9,269.00 +133.89 +1.47%
CAC 40 4,180.21 +69.55 +1.69%
EURO STOXX 50 Index 2,864.68 +43.42 +1.54%
EURONEXT 100 828.78 +14.95 +1.84%

 

M.Magnolia ♦

 

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