European stocks notch all-time highs on earnings, Xi-Biden boost

  • 11/16/2021
  • 00:00
  • 5
  • 0
  • 0
news-picture

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Nov 16 (Reuters) - Several European indexes hit record highs on Tuesday, boosted by signs of easing U.S.-China tensions, strong earnings, and dovish statements from the European Central Bank chief. The pan-European STOXX 600 rose 0.1% by 0829 GMT, adding to a recent string of record gains, as a key meeting between U.S. President Joe Biden and Chinese leader Xi Jinping saw both sides signalling a stabilization in the fraught relationship. Blue-chip indexes, including Germany’s DAX and France’s CAC 40, as well as euro zone shares also notched peaks. Mining stocks, which have a large exposure to China, climbed 0.5% in early trading, while telecom stocks were boosted by Vodafone’s 4.6% gain after quarterly results. Dutch tech investor Prosus NV rose 1.6% after forecasting higher profit for the first half of 2022 as it gained proceeds to the tune of $12.3 billion from selling part of its stake in Tencent. ECB President Christine Lagarde on Monday reiterated her pushback against market bets for tighter monetary policy. Investors now eye a batch of data, including euro area GDP figures, and a speech by Lagarde due later in the day. (Reporting by Anisha Sircar in Bengaluru; editing by Uttaresh.V)

مشاركة :