European Shares Gain As Economic Worries Ease
2024-08-08
2005
(fxcue news) - European stocks climbed on Friday after the number of Americans filing new applications for unemployment benefits fell more than expected last week, calming fears the U.S. economy is heading for a recession.
The pan European STOXX 600 rose about 1 percent to 501.08 after ending flat with a positive bias on Thursday.
The German DAX added 0.6 percent, France's CAC 40 climbed 0.9 percent and the U.K.'s FTSE 100 was up 0.6 percent.
The dollar hovered close to a one-week high against major rivals as traders pared bets on big rate cuts by the Federal Reserve.
Italian insurer Generali Group fell nearly 2 percent after posting a mixed set of results for the first six months of 2024.
Revolution Bars Group soared more than 16 percent in London. The troubled bar firm has secured a High Court's judge approval for its restructuring plan.
Bellway rallied nearly 3 percent. The housebuilder expects to return to growth in fiscal 2025 if market conditions remain stable.
Hargreaves Lansdown climbed 2.3 percent. The investment platform has agreed to a 5.44 billion-pound ($6.94 billion) takeover by a consortium backed by private equity firm CVC Capital Partners.
German optics giant Jenoptik surged 8.5 percent after boosting sales and profits in the second quarter.
Media powerhouse RTL Group added 2 percent as it reported a 4.7 percent year-on-year increase in TV advertising revenue for the first half of the year.
Lanxess jumped 5.7 percent. The specialty chemicals maker confirmed its FY24 view despite posting a 5.6 percent drop in its second-quarter sales.
Sign In via X
Google
Sign In via Google
This page link：http://www.fxcue.com/52520.html
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights
Tips：This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement：Contact us if the content violates the law or your rights