Markets

European stocks rise on Chinese exports data

2019-07-12 12:03:08 GMT (Economies.com)

European shares rose on Friday in the last session of the week, on the verge of achieving the first gain in the last six sessions, supported by the rise of mining and core resources companies, after the release Chinese data that showed the exports of China fell less than expected.

 

Stoxx Europe 600 rose by 0.2% as of 10:55 GMT, and the index ended yesterday's session down by 0.1%, the fifth consecutive daily loss, affected by losses of drugs companies.

 

Over the course of this week's sessions, the Stoxx Europe index lost about 0.7% on its way to the 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 Friday morning in the last session of the week, to get closer to achieving the first gain in the last six sessions, with most of the major stock exchanges and sectors in Europe in the positive region.

 

Mining and Core Resources companies topped the list of gainers in Europe with a rise of 1.7%, and the automakers sector also rose 1.5%.

 

China's exports fell by 1.3% in June, higher than expectations of a 2.0% decline, as China, the world's largest consumer of metals and commodities, is engaged in a fierce trade war with the United States.

 

On Thursday, the International Monetary Fund (IMF) urged the European Central Bank to add new incentives to ease the growing economic risks, the IMF warned that the euro-zone economy is facing the risks of global trade tensions, Britain's break-up from the EU and Italy's debt crisis.

 

S&P 500 futures rose 0.3%, the highest level ever before the opening of the official session on Wall Street, as the index ended yesterday's session rising by 0.2%, the third daily gain in a row.

 

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

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.