Bloomberg News

European Stock Futures Rise as German GDP Beats Estimates

May 15, 2012

European stock futures climbed, indicating the Stoxx Europe 600 Index (SXXP) will rebound from its lowest level in four months, as a report showed Germany’s economy grew at a faster pace than economists had predicted. U.S. index futures advanced, while Asian stocks fell.

UniCredit SpA (UCG) and Intesa Sanpaolo SpA (ISP) may decline after Moody’s cut the credit ratings of 26 of the nation’s lenders, citing weakened earnings and the domestic economic outlook. Swatch Group AG may move after Switzerland’s competition authority extended measures to ensure the world’s biggest watchmaker delivers parts to competitors.

Futures on the Euro Stoxx 50 Index expiring in June gained 0.5 percent to 2,192 at 7:11 a.m. in London, while FTSE 100 Index futures expiring the same month rose 0.1 percent. Standard & Poor’s 500 Index futures climbed 0.5 percent, while the MSCI Asia Pacific Index retreated 0.7 percent.

The Stoxx 600 lost 1.8 percent yesterday as Greece moved closer to a possible exit from the euro area, European industrial output slipped in March and German Chancellor Angela Merkel’s party lost a state election.

To contact the reporter on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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