Markets & Finance

Europe, Asia Close Higher


European stock markets were higher Tuesday. In London, the Financial Times-Stock Exchange 100 index rose 46.90 points to 5090.40 on short covering and lower August Brent crude oil prices. 82 FTSE stocks rose, 19 fell on turnover of 1,781,000,000 shares. Yields on 10-year gilts rose to 4.22% from 4.17% yesterday. Sterling fell to $1.8166. BP and Shell Transport rose after Morgan Stanley raised its rating on European energy stocks to "attractive" from "in- line". BG Group up as Morgan Stanley raised its share-price forecast. Computacenter plunged after company said profit will be "substantially" less than anticipated. Intertek fell after forecasting lower earnings. James Beattie rose after House of Fraser agreed to buy company for 69.4 million pounds.

In Germany, the DAX index, aided by lower oil prices, rose 33.64 points to 4557.46 even though German GfK consumer confidence index fell to 3.5 in June from 4.4 in May. 28 DAX stocks rose, 2 fell on turnover of 75,421,000 shares. Yields on 10-year Bunds rose to 3.16% from 3.10% yesterday. The euro fell to $1.2063. Adidas rose on improved U.S. sales. Gerry Weber rose as company said first-half net income increased 18% to 8.4 million euros. Leoni rose on news the company bought a German maker of specialty cables used in utility vehicles and cranes.

France's CAC 40 gained 36.65 points to 4194.33 as French June business confidence rose unexpectedly to 99 from 96.0 and oil prices eased from record run. 37 CAC stocks were up, 3 were down on turnover of 79,907,000 shares. Yields of 10-year bonds rose to 3.17% fro 3.11% yesterday. Groupe Bourbon rose after Jaccar increased its stake in company to 24.01% from 20.01%. Geci International, which is offering new shares, fell. LDLC fell after saying fiscal year earnings will fall. Total rose on Morgan Stanley energy sector recommendation.

Asian markets also closed higher on Tuesday, rebounding from losses Monday. In Japan, the Nikkei 225 climbed 99.55 points, or 0.87%, to 11,513.83. In Tokyo, the broad TOPIX index climbed 9.66 points, or 0.8%, to 1,171.10, about in line with the Nikkei 225's gain. The indices rose steadily into the close to finish near session highs. Advancers outpaced decliners on the first section of the Tokyo Stock Exchange by 1293 to 254, nearly matching the wide spread in yesterday's negative breadth. Volume rose.

After a choppy morning in Hong Kong, the Hang Seng index surged 111.40 points, 0.79%, to close at its high for the day at 14,287.44. The gain was accompanied by a surge in volume. The Hang Seng has risen four of the past five days, each time on high volume. Volume fell back to its 50-day average with yesterday's decline in the index. Breadth was 22-7 positive.

Canada's benchmark TSX/S&P gained 42.92 points, or 0.43%, to close at 10,041.03.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus