Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi Arabia offers condolences to Iran following deadly Bandar Abbas port explosion    Saudi Arabia welcomes Palestinian leadership reforms, appointment of Hussein Al-Sheikh    Ministry of Hajj issued over 150,000 Nusuk cards for the Hajj of 2025    Saudi Arabia deports 12,866 illegal residents in a week    Pope Francis laid to rest at historic funeral in Rome    Massive explosion at Iran's Shahid Rajaee Port injures over 500 people    SFDA clears first 44-ton medical shipment for Hajj pilgrims    Over 13 million worshipers pray at Rawdah Sharif in a year    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European Stocks Close Higher Again on Recovery Optimism
Published in Saudi Press Agency on 17 - 04 - 2021

European stocks closed higher on Friday, extending recent gains, amid continued optimism about global
economic recovery thanks to fairly upbeat data from China, the US and Europe, dpa reported.
Strong results from some top name U.S. and European companies contributed as well to the positive mood in the markets.The pan European Stoxx 600 climbed 0.9 per cent. Britain's FTSE 100 ended 0.52 per cent up, Germany's DAX gained 1.34 per cent, France's CAC 40 surged up 0.85 per cent and Switzerland's SMI ended higher by 0.57 per cent.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Russia, Spain and Sweden ended with strong gains.
Greece and Poland closed weak, while Turkey and Ukraine ended flat.
Automobile stocks rallied after industry data showed Europe's new car registrations surged in March due to last year's exceptionally low base of comparison caused by the strict Covid-19 restrictions introduced in most markets in March 2020.
Registrations of new passenger cars increased 87.3 per cent annually, in contrast to February's 19.3 per cent decline.
In the UK market, Everaz, Tesco, Next, British American Tobacco, Natwest Group, BT Group, Melrose, Barclays Group and Flutter Entertainment gained 2 to 4 per cent.
Online supermarket Ocado Group shares gained nearly 2 per cent. The company announced that it has commercially partnered with Oxford -based autonomous vehicle software company Oxbotica Ltd to develop a range of vehicles that will be integrated into the Ocado smart platform.
Rolls-Royce Holdings, Hikma Pharmaceuticals, ICP and Barratt Developments declined sharply.
In the French market, Valeo, ArcelorMittal, Safran, Renault, Air France-KLM, BNP Paribas and LVMH gained 2 to 4 per cent. Publicis Groupe, Veolia and Hermes International also ended notably higher. In Germany, Siemens moved up more than 4 per cent. Daimler rallied 2.5 per cent after its preliminary results for the first-quarter of 2021 came in significantly above market expectations, driven by higher vehicle prices and strong demand for its Mercedes-Benz cars, particularly in China.
Covestro, Continental, Volkswagen, Deutsche Bank, Bayer and BASF gained 2 to 3 per cent. HeidelbergCement shares rose sharply after the company said that its preliminary results for the first quarter of 2021 were significantly above market expectations.
Dutch bank ING gained notable ground in positive territory after announcing its plan to separate the Management Board Banking roles for technology and operations.
In economic releases, Eurozone consumer prices increased as initially estimated in March, final data from Eurostat showed. Inflation accelerated to 1.3 per cent in March from 0.9 per cent in February.
This was the third consecutive rise in prices and matched flash estimate released on March 31.
The euro area trade surplus declined in February as exports decreased amid rising imports, Eurostat reported. The trade surplus rose to a seasonally adjusted 18.4 billion euros in February from 28.7 billion euros in January. Exports decreased 2.5 per cent month-on-month, while imports were up 3.4 per cent in February.
Switzerland's producer and import prices declined in March, data from the Federal Statistical Office showed. Producer and import prices fell 0.2 per cent year-on-year in March. The producer price index declined 0.4 per cent annually in March and import prices increased 0.1 per cent.


Clic here to read the story from its source.