LONDON: European shares rose on Monday, led higher by Germany after an upbeat report on factory activity, while the dollar steadied following signs the US economy may be emerging from a recent soft patch. Euro zone powerhouse Germany's manufacturing sector lost some momentum in April but expanded for a fifth consecutive month. In France, the sector's final PMI showed activity contracting and falling for a 12th successive month.
LONDON: European shares gained on Monday, with basic resources stocks leading the market higher after mining and commodities trading company Glencore announced plans to cut debt and trim its African copper operations. The pan-European FTSEurofirst 300 index was up 0.5 per cent at 1,399.34 points by the close after rising to a high of 1,409.64 points in early trading. The index closed 2.5 per cent lower on Friday when a mixed jobs report fuelled uncertainty about the timing of a likely U.S. rate hike.
Stocks were modestly weak overnight amid poor Japanese, Chinese, and European data, but as soon as the US cash markets opened, stocks surged higher algorithmically testing up to unchanged briefly for the S&P 500 and squeezing small-cap shorts (as usual).. until Europe closed. Stock started to lose steam but once Nasdaq and Russell broke red, programs slammed stocks lower and despite a late-day bounce, stocks gave up all the gains from Friday's "awesome jobs data" and then some with Trannies and Small Caps worst.
London (AFP) - European stock markets closed lower Wednesday, mirroring losses across Asia after China further devalued its currency and reported more poor economic data.Shares in mining companies, carmakers and luxury goods groups, which rely heavily on Chinese demand, fell sharply for a second day.
NEW DELHI: Extending last week's losing streak, the S&P BSE Sensex fell over 308.09 points, or 1.22 per cent, to break below the 25,000 mark to close at 24,893.81 on Monday, as high volatility in the late-afternoon session took its toll on an otherwise lacklustre session. The market opened for the week on a promising note in the morning, rallying over 100 points on strength seen in Asian markets. But as the session progressed, the 30-share benchmark gave up all the gains to turn flat, before the bears took over in the last two hours of trade.