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On Friday, a bucket of European stock indices had wrapped up the session in an affirmative territory with the regional Pan-European STOXX 600 reporting weekly percentage gain, as market participants appeared to be gauging a set of mixed earnings’ reports across the region. Apart from that, a deluge of dismal economic data in the US had spurred up investors’ hope that the US Central Bank might pause its hawkish rate-hike policy this week. If truth is to be spoken, in the day’s gains in major European bourses were almost entirely prodded by an uprising of luxury stocks, as Louis Vuitton had beaten quarterly sales’ forecast amid a rise in US and European demand.
Meanwhile, addressing to investors’ caution amid what could be contemplated a mixed earnings’ season, a head of macro economist at Equiti Capital, Stuart Cole said, “The earnings angle is a mixed bag.
Some corporates appear to show earnings holding up, while others are reporting disappointing numbers”.
European stocks end higher
Citing statistics, in the day’s European market wind-down, UK’s blue-chip FTSE 100 ended 0.05 per cent higher to 7,765.15 and French CAC 40 edged marginally higher to 7,097.21, while Frankfurt’s DAX 30 added 0.11 per cent to 15,150.03.
Elsewhere in the Europe, Italy’s FTSE MIB added 0.83 per cent to 26,435.75, while Madrid’s benchmark IBEX 35 gained 0.27 per cent to 9,060.20. Over the week, London’s benchmark FTSE 100 shed 0.07 per cent, French CAC 40 jumped 1.45 per cent and Frankfurt’s DAX added 0.77 per cent, while Italy’s FTSE MIB torrented 2.56 per cent and Madrid’s IBEX 35 gained 1.59 per cent.