European stocks, euro higher on strong Chinese data

European stock markets and the euro rose on Thursday as traders welcomed strong Chinese manufacturing data and an Israel-Gaza truce, while a Greek bailout deal was put on hold ahead of an EU summit.

Investors shrugged off news that Cyprus, which currently holds the rotating EU presidency, will probably need 17 billion euros ($22 billion) in international aid to rescue its struggling economy, hit by recession and the Greek debt crisis.

The benchmark FTSE 100 index climbed 0.68 percent to close at 5,791.03 points in London, Frankfurt's DAX 30 gained 0.84 percent to 7,244.99 points and the Paris CAC 40 advanced by 0.60 percent to 3,498.22.

The euro jumped to $1.2875 from $1.2826 late in New York on Wednesday.

On the London Bullion Market, gold prices rose to $1,731 an ounce from $1,724 on Wednesday. US markets were shut for the Thanksgiving holiday, resulting in quieter activity.

"European markets have been inspired by the uplifting PMI data from China," said Gekko Global Markets trader Anita Paluch.

Rabobank foreign exchange analyst Jane Foley added that "better Chinese PMI data, a ceasefire between Hamas and Israel and comments from (German) Chancellor (Angela) Merkel suggesting that an agreement that will release bailout funds to Greece could still be brokered on Monday are all supporting a modest 'risk on' tone."

The HSBC bank said China's manufacturing activity grew for the first time in more than a year in November, reinforcing recent views that the world's second biggest economy is beginning to pick up after several months of slowdown.

HSBC's purchasing managers' index (PMI) stood at 50.4 this month, compared with 49.5 in October. Anything above 50 points to growth and anything below indicates contraction.

It was the first reading above 50 since October 2011 and added to a slew of upbeat trade, investment and sales figures that have fuelled market optimism.

"A 13-month high for HSBC's Chinese Flash PMI is always going to give a leg up to London's resource-heavy (stock) market, and helps us overlook continuing weakness in equivalent eurozone numbers," IG trader Will Hedden commented.

In Brussels meanwhile, European Union leaders braced for what could be a gruelling summit on a trillion-euro EU budget that has bitterly divided a 27-nation bloc already mired in economic crisis.

On the eve of the summit, eurozone finance chiefs failed to strike a deal to unlock the latest bailout payment for indebted Greece, causing them to meet again on Monday.

In Nicosia, Cyprus Finance Minister Vassos Shiarly told media the country needs 17 billion euros in aid to cover a four-year period through 2016, while President Demetris Christofias said it was close to agreement on a bailout with international lenders.

European traders were lifted by the announcement of a Middle East truce that ended eight days of bloodshed in Gaza and Israel and left both sides claiming victory.

On the corporate front, shares in British brewer SABMiller rallied 6.38 percent to 2,801 pence after the maker of Grolsch and Miller Lite reported a 15-percent rise in half-year profits to $1.59 billion (1.23 billion euros).

Reckitt Benckiser gained 0.36 percent to 3,859 pence as the Anglo-Dutch household products and drugs group said it had agreed to buy US-based Schiff Nutrition for $1.4 billion after German company Bayer pulled out of the bidding.

burs-wai/jmm

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Apple Said to Plan IPhone for Japan With Tap-to-Pay for Subways Bloomberg - 31 minutes ago

    A future iPhone will include technology called FeliCa, a mobile tap-to-pay standard in Japan developed by Sony Corp., according to people familiar with the matter. The FeliCa chip will let customers in Japan store their public bus and train passes … More »

  • Asian Stock Futures Mixed Before Jackson Hole With Oil Above $47 Bloomberg - 37 minutes ago

    Contracts on equity gauges in Japan and South Korea retreated, while those on indexes in Australia and Hong Kong foreshadowed gains following a second day of losses in U.S. shares. Japan’s currency headed for its first weekly drop versus the dollar … More »

  • Air New Zealand flies to record profit
    Air New Zealand flies to record profit AFP News - 1 hour 25 minutes ago

    Air New Zealand announced an operating windfall Friday, posting a record NZ$463 million (US338.01 million) after-tax profit, up 42 percent, as the country benefitted from a tourist boom. It was "the best result ever" in the 76-year history of the … More »

  • European, US equities dip awaiting Fed
    European, US equities dip awaiting Fed AFP News - 1 hour 34 minutes ago

    US and European stocks slid Thursday in choppy trade as investors awaited a key speech by Federal Reserve Chair Janet Yellen that many hope will shed light on the Fed's policy stance. With global economic growth in a slump and the US economy not … More »

  • Dollar General, Dollar Tree report weak sales growth
    Dollar General, Dollar Tree report weak sales growth Associated Press - 1 hour 44 minutes ago

    Discount-store rivals Dollar General and Dollar Tree reported weaker-than-expected sales figures Thursday, as struggling lower-income shoppers spent less at their stores. Shares of both companies fell ... … More »

  • Euro rises as markets tread water before Yellen speech AFP - 1 hour 58 minutes ago

    The euro rose slightly on Thursday against the dollar, the yen and the British pound while investors awaited Friday's keynote address from US Fed chief Janet Yellen. Towards 2100 GMT, the euro was at $1.1281, ... … More »

  • Vegas stadium backers down to 2 top sites for Raiders
    Vegas stadium backers down to 2 top sites for Raiders Associated Press - 2 hours 12 minutes ago

    Backers of a proposed NFL stadium said they've whittled their list to two sites just west of the Las Vegas Strip and refuse to accept any less than $750 million in public funding toward the project, which ... … More »

  • Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains
    Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains Reuters - 2 hours 22 minutes ago

    Oil prices rose 1 percent on Thursday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair. The market, however, gave back some gains after an interview … More »

  • Health care sector pulls stock market lower again
    Health care sector pulls stock market lower again Associated Press - 2 hours 27 minutes ago

    Stocks fell in light trading for a second day on Thursday as investors sifted through a mix of earnings reports. The major indexes wavered between small gains and losses in the morning, then moved lower ... … More »

  • Antrim reports 2Q loss Associated Press - 2 hours 28 minutes ago

    On a per-share basis, the Calgary, Alberta-based company said it had a loss of 1 cent. Earnings, adjusted for asset impairment costs, came to less than 1 cent on a per-share basis. In the final minutes ... … More »

  • Oil up on U.S.-Iran scare, dlr; Saudi output stance cuts gains
    Oil up on U.S.-Iran scare, dlr; Saudi output stance cuts gains Reuters - 2 hours 29 minutes ago

    Oil prices rose 1 percent on Thursday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair. The market, however, gave back some gains after an interview … More »

  • How the Dow Jones industrial average fared on Thursday Associated Press - 2 hours 35 minutes ago

    Stocks closed lower on Thursday, led by declines in health-care companies as investors worry about a backlash in Washington against recent price increases for key drugs. A few retailers reported disappointing ... … More »

  • Earliest China Tea Leaves Signal Weakening Business Sentiment Bloomberg - 2 hours 42 minutes ago

    China’s policy makers have refrained from across-the-board monetary stimulus in recent months and switched to reining in risks emerging in the bond and property markets. “Both domestic and export demand remained sluggish, and unfavorable weather … More »

  • China’s Biggest Cities Said to Plan Curbs to Tame Property Boom Bloomberg - 2 hours 42 minutes ago

    Beijing and Tianjin are also contemplating new measures to rein in prices, according to three of the people. China’s top leaders, after a Politburo meeting led by President Xi Jinping last month, pledged to curb asset bubbles amid a renewed focus … More »

  • Hong Kong Regulator Wants a Tighter Grip on IPOs in Blow to HKEx Bloomberg - 2 hours 42 minutes ago

    While the Securities and Futures Commission and Hong Kong Exchanges & Clearing Ltd. have stated publicly that they’re working together on a new regime to approve IPOs, brokers and lawmakers say the proposal would shift power toward the regulator. … More »

  • Zayo Group reports 4Q loss Associated Press - 2 hours 44 minutes ago

    On a per-share basis, the Boulder, Colorado-based company said it had a loss of 13 cents. Earnings, adjusted to extinguish debt, were 1 cent per share. The results met Wall Street expectations. The average ... … More »

  • Exclusive - Exchange Bats eyes new EU base outside London after Brexit
    Exclusive - Exchange Bats eyes new EU base outside London after Brexit Reuters - 2 hours 46 minutes ago

    Europe's biggest stock exchange Bats Europe could open a base outside London following Brexit, its head told Reuters, voicing doubts about whether the City of London would secure sufficient access to the European market. Bats Europe accounts for … More »

  • Kerry arrives in Geneva for Syria talks with Lavrov
    Kerry arrives in Geneva for Syria talks with Lavrov AFP News - 2 hours 47 minutes ago

    US Secretary of State John Kerry arrived in Geneva late Thursday for a meeting with his Russian counterpart Sergei Lavrov to discuss the situation in war-ravaged Syria. Earlier Thursday, the UN special envoy for Syria Staffan de Mistura described … More »

  • US stocks edge lower ahead of Yellen speech AFP - 2 hours 53 minutes ago

    US stocks finished lower on Thursday ahead of a much-awaited speech by Federal Reserve Chair Janet Yellen that analysts hope will clarify the Fed's policy stance. Health care and pharmaceutical shares ... … More »

  • Hedge Funds Suddenly Winning on China’s Most Dangerous Short (1) Bloomberg - 2 hours 59 minutes ago

    After suffering through a 953 percent rally in shares of Yirendai Ltd. since mid-February, hedge funds and other bearish speculators were rewarded over the past four days as the Chinese peer-to-peer lender sank 35 percent in U.S. trading. Holding … More »

  • Net 1 UEPS posts 4Q profit Associated Press - 3 hours ago

    The Johannesburg-based company said it had profit of 48 cents per share. Earnings, adjusted for one-time gains and costs, came to 51 cents per share. The payments company posted revenue of $151.3 million ... … More »

  • Vivendi keeps negotiating with Mediaset despite public spat - sources
    Vivendi keeps negotiating with Mediaset despite public spat - sources Reuters - 3 hours ago

    PARIS/MILAN (Reuters) - French media giant Vivendi (VIV.PA) and Italian broadcaster Mediaset (MS.MI) are negotiating behind closed doors to forge an alternative partnership despite an ongoing war of words over a disputed pay-tv deal, three sources … More »

  • QAD Inc. posts 2Q profit Associated Press - 3 hours ago

    On a per-share basis, the Santa Barbara, California-based company said it had net income of 3 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share. The manufacturing ... … More »

  • QAD posts 2Q profit Associated Press - 3 hours ago

    On a per-share basis, the Santa Barbara, California-based company said it had profit of 3 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share. The enterprise ... … More »

  • Wall St. slips on healthcare, consumer names; Fed eyed
    Wall St. slips on healthcare, consumer names; Fed eyed Reuters - 3 hours ago

    U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed the case for a rate hike. Healthcare stocks, down 0.8 percent, … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.128-0.001-0.78%
    N21.SI
    0.355-0.010-2.74%
    E5H.SI
    0.59-0.01-1.67%
    5TP.SI
    1.00+0.01+1.01%
    Y92.SI
    0.785-0.010-1.26%
    BS6.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.09+26.76%
    AYB.SI
    0.465+0.080+20.78%
    E8Z.SI
    0.16+0.02+14.29%
    UV1.SI
    0.20+0.02+11.11%
    BGO.SI
    0.188+0.018+10.59%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.35-0.10-22.22%
    BFK.SI
    0.185-0.040-17.78%
    Y35.SI
    0.40-0.06-13.04%
    BBW.SI
    0.20-0.03-13.04%
    AWI.SI
    0.194-0.026-11.82%
    BLZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3527-0.0003-0.02%
    USDSGD=X
    1.52670.000.00%
    EURSGD=X
    1.78430.000.00%
    GBPSGD=X
    74.3330+0.088+0.12%
    SGDJPY=X
    5.7309+0.0027+0.05%
    SGDHKD=X
    2.9648+0.0008+0.03%
    SGDMYR=X
    9,821.0518+2.4668+0.03%
    SGDIDR=X
    4.9188-0.0015-0.03%
    SGDCNY=X
    1.0312+0.0006+0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,324.40-0.20-0.02%
    GCZ16.CMX
    18.490.00-0.02%
    SIU16.CMX
    96.51+1.17+1.23%
    ^XAU
    2.080.00-0.02%
    HGU16.CMX
    47.330.000.00%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.16+0.01
    ^FVX
    1.58+0.02
    ^TNX
    2.26+0.02
    ^TYX