European Stocks Rise After Bullish German, UK Data


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European shares rose after bullish data.

The ZEW German economic sentiment indicator jumped 5.7 points in August to 42 points, the highest level since March. Analysts had expected a reading of 39.1, according to FactSet.

Consumer price inflation accelerated for the third straight month, to 1.9% in July from 1.8% in June, the statistics office said, confirming a preliminary estimate from July 30. By comparison, annual inflation was just 1.2% in April.

In the UK, the Royal Institute of Chartered Surveyors said its house prices balance rose to +36 in July from +21 the previous month, and was the highest since November 2006, when it reached +42. The reading marked the fastest pace of price increases in more than six years with demand for homes at a four-year peak.

In the United States, retail sales rose 0.2% in July, just off expectations for up 0.3%, according to Excluding the 1.0% drop in motor vehicle sales, however, retail sales rose 0.5%, ahead of expectations of 0.4%.

U.S. imports rose 0.2% in July, smaller than estimates for a 0.8% rise.

In ADR news, GlaxoSmithKline ( GSK ) and Pfizer's ( PFE ) JV ViiV healthcare received FDA approval for Tivicay 50-mg tablets. Tivicay is an integrase inhibitor indicated for use in combination with other antiretroviral agents for the treatment of HIV-1 in adults and children aged 12 years and older weighing at least 40 kg (approx. 88 lbs).

The FTSE-100 was last up 0.57% at 6,611.94, the DAX up 0.68% at 8,415.76 and the CAC-40 up 0.51% at 4,092.50.

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

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This article appears in: Investing , Commodities
More Headlines for: GSK , PFE

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