FRANKFURT (Dow Jones) – At Europe’s stock markets, it seems on the way up to give still no stopping.
Surprisingly robust economic data from the U.S. on Monday signaled investors that the chances of an increasingly self-supporting upswing rise there. The Euro Stoxx 50 presented on Tuesday by 0.4% or 11 points to 2989 and missed the intraday high of 2998 points to jump over the 3000-meter mark only possible margin. On 15 January, the index recorded for the last time over this hurdle.
The Stoxx 50 advanced 0.4% or 10 points ahead in 2679. In contrast to the increased Euro Stoxx 50 Stoxx 50 in the course of a new year high of 2683 points. The stock market barometer in Frankfurt, London, Amsterdam, Brussels, Helsinki and Stockholm marked the course of trade to new highs for the year. Because European stock markets were closed on Monday, they could not priced in the U.S. and brought it to set on Tuesday. On Monday on Wall Street were already gone up the Dow Jones Index and the S & P 500 to new highs for the year.
The trade on Wednesday is expected to be initially dominated by the U.S. Federal Reserve, according to by dealers. This published on Tuesday evening, the minutes of its meeting of 16 March. Investors are likely to meticulously sift through the log information on possible rate hikes.
Rising commodity prices pull stocks with upward
Having the stock markets were mainly from the price of commodity producers. These include cyclical view of the first profiteers of a pickup in economic activity. Shall, using oil and gas sector by 2.4%. Oil prices pulled on the New York Mercantile Exchange Nymex at $ 87.09 and so on to a new annual high. In London, the price climbed to about $ 8,000 a tonne of copper. Again, the U.S. economic data ensured of Monday, the ISM service index and the pending home sales for a profit. The sector of primary producers increased by 2.4%.
Prospect of cooperation with Daimler can attract Renault
Automotive stocks put in an average of 1%, led by the price increase of 3.9% to 36.87 euros to Renault. Renault, Nissan and Daimler have agreed to a cross-shareholding, according to newspapers. Daimler and Renault would take over 3% each to the other company. With the Japanese partner Nissan-Renault group to steer the Stuttgart on a similar agreement. Daimler responded with a gain of 0.3% to behave € 35.50 on these messages.
Details of cooperation would have been neither Renault Daimler betrayed. Shortly after the market closes invited Daimler and Renault to take a joint press conference on Wednesday. "Renault would be the main beneficiary of a cooperation with Daimler," said a dealer. A platform strategy and technology cooperation would be for the French company a big advantage.
Purchase option based Lafarge shares – Defensive back shares remain
The papers of the French building materials group Lafarge moved up 2.3% to 54.21 euros. The price increase justified dealer with the message that the major investor Sawiris has purchased 6 million options on the stock. Should these be exercised, would increase the proportion of that shareholder at 13.9%. The construction sector grew by 0.9%. As more sectors such as defensive force pharmaceutical, telecommunications and food producers gave in easily. Above-average charges recorded Roche (-1.7%), Novartis (-1%) and Vodafone (-1.4%).
DJG / bek / gei