European stocks rise after record highs in Wall Street

2019-07-15 12:14:16 GMT (

European shares rose on Monday morning in the first session of the week, extending gains for the second session in a row, with market's sentiment rising after record gains for US stocks on Wall Street, and after positiver data on industrial production and retail sales in China, which overshadowed the impact of the Chinese economy slow growth during the second quarter with the lowest pace in 27 years.


As of 11:35 GMT, Stoxx Europe 600 rose by 0.2% as the index ended Friday's session up by more than 0.05%, the first gain in the last six sessions.


The index lost 0.6% over last week's sessions, its first weekly loss in the past five weeks, as a result of the German market's massive decline following a profit warning from BASF.


The Index rose on Monday morning in its first session of the week, continuing its gains for a second session in a row, with most major stock exchanges and sectors in Europe in the positive region.


S&P 500 futures rose by 0.2%, hitting their all-time high before the opening of Wall Street's official trading session. The index ended Friday's session up by 0.5%, its fourth daily gain in a row, hitting a new record high of 3,013.92 points.


The auto industry led the top gainers list in Europe with a gain of more than 0.6%, followed by the mining sector and the core resource companies.


China's industrial production grew by 6.3% in June, exceeding experts 'expectations of 5.2% growth, as it posted a growth of 5% in the previous month, the retail sales rose 9.8%, better than economists' forecast of 8.5%. 8.6% in May.


The impact of these data on the growth of the Chinese economy at the lowest pace in 27 years, as the GDP grew by 6.2% in the second quarter, which is the lowest growth rate since 1992, according to experts' forecasts of a growth by the same rate, while the economy grew by 6.4% in the first quarter.


Chinese stocks gained support from the data, with the Shanghai Composite Index rising by 0.8%, and the MSCI Asia Pacific Index outside Japan rose 0.3%.


Euro Stoxx 50 index rose by 0.2%, while in France, the CAC 40 index gained more than 0.1%. with Germany's DAX rising by 0.5% to top the gainers list in Europe, and In London, the FTSE 100 added more than 0.2%.

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