Europe moving to the upside on improved U.S. economic sentiment
The European equity markets are trading mostly higher in afternoon action, with improved U.S. economic sentiment lending a hand, aided by the IMF's favorable comments over the weekend, courtesy of recent upbeat economic data, a Congressional budget deal, and the Fed's plan to reduce its stimulus measures. Meanwhile, suppliers to Apple Inc are finding some support on the heels of the confirmation of the highly anticipated deal between the tech giant and China Mobile. However, volume is lighter than usual, with the Christmas holiday on the week's horizon. In economic news in the region, German import prices unexpectedly rose in November, while Spanish producer prices fell and Italian consumer confidence surprisingly deteriorated for December.
The UK FTSE 100 Index and Germany’s DAX Index are up 0.7%, France’s CAC-40 Index and Switzerland’s Swiss Market Index are rising 0.1%, Italy’s FTSE MIB Index is advancing 0.4%, and Spain’s IBEX 35 Index is increasing 0.2%.
Source: Schwab
The European equity markets are trading mostly higher in afternoon action, with improved U.S. economic sentiment lending a hand, aided by the IMF's favorable comments over the weekend, courtesy of recent upbeat economic data, a Congressional budget deal, and the Fed's plan to reduce its stimulus measures. Meanwhile, suppliers to Apple Inc are finding some support on the heels of the confirmation of the highly anticipated deal between the tech giant and China Mobile. However, volume is lighter than usual, with the Christmas holiday on the week's horizon. In economic news in the region, German import prices unexpectedly rose in November, while Spanish producer prices fell and Italian consumer confidence surprisingly deteriorated for December.
The UK FTSE 100 Index and Germany’s DAX Index are up 0.7%, France’s CAC-40 Index and Switzerland’s Swiss Market Index are rising 0.1%, Italy’s FTSE MIB Index is advancing 0.4%, and Spain’s IBEX 35 Index is increasing 0.2%.
Source: Schwab
