European stocks gained today after a six week low as the investors waited on decision of the European Central Bank for its interest rate and financial stimulus policy. The Stoxx 600 index rose by 0.29% at 12:50 PM London time. UKs FTSE 100, Germanys DAX 30 and French CAC 40 all gained 0.17%, 0.32% and 0.55% respectively.
Chris Godding, investment manager at Signia Wealth Ltd. in London told Francine Lacqua on Bloomberg Television. “There’s a lot of excess capacity in the European economy and there’s a lot of potential”.
In corporate news, France Telecom SA is up 2.6% after one of its services unit sealed a deal to deploy a private network for Heineken NV. Johnson Matthey, the chemicals and precious metals company climbed to its highest price in 23 years after posting a full year profit thath beats estimates. Barclays Plc. fell 2.2% as Sumitomo Mitsui Banking Corp. sold a stake in the lender.
US stock futures also rose today suggesting the S&P 500 would rebound from its monthly lowest point. The investors are waiting on jobless claims report to set more light on the economys condition. S&P 500 and Dow Jones Industrial futures both surged by 0.3% and 0.2%. Costco Wholesale Corp. advanced 0.7% after an increase of sales report posted by the company. SodaStream International Ltd. surged 38% in German trading after an Israeli business site posted that PepsiCo Inc is in talks with the soda machine manufacturer.
Earlier today, Holland, UK and France posted some positive economic data which clearly showed later on stock markets.
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