European Stocks Rise After Bullish German, UK Data

By
A A A

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 Marketwatch.com. 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 The NASDAQ OMX Group, Inc.

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


This article appears in: Investing , Commodities

Referenced Stocks: GSK , PFE

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%
92%

Most Active by Volume

60,149,682
  • $14.905 ▼ 2.26%
29,415,137
  • $94.26 ▼ 0.80%
26,639,008
    $38.10 unch
26,081,078
  • $3.34 ▼ 1.18%
23,900,345
  • $95.58 ▼ 0.02%
22,589,829
  • $71.73 ▼ 1.27%
21,406,850
  • $3.95 ▲ 1.02%
18,842,177
  • $25.1685 ▲ 0.07%
As of 8/1/2014, 12:13 PM