European Shares Rise on Positive Data

By Staff,

Shutterstock photo

European stocks rise after a spate of positive data.

A preliminary reading showed consumer prices the eurozone rose by just 0.8% over the 12 months to December, a decline in the annual rate of inflation from 0.9% in November. The ECB targets an inflation rate of just below 2.0%. If the rate continues to stay low, the ECB could consider easing monetary policy again.

German jobless claims in December unexpectedly fell 15,000 from November when taking account of seasonal swings, leaving the adjusted jobless rate unchanged at 6.9%, which is close to a record low. Economists in a Bloomberg News survey predicted a drop of 1,000.

German retail sales data also came in better than expected, with a November preliminary rise of 1.5%.

UK new car sales in 2013 rose 11% from 2012.

French consumer confidence measured by national statistics agency Insee rose to 85 in December from 84 in November. The long-term average reading is 100.

In ADR news, Royal Philips NV ( PHG ) signed a tech and home-care deal with Aerogen.

STMicroelectronics ( STM ) is downgraded to Underweight from Equalweight at Barclays.

The FTSE-100 was last up 0.37% at 6,755.45, the DAX up 0.83% at 9,506.20 and the CAC-40 up 0.83% at 4,262.68.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: PHG , STM

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by