The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 15, 2021. REUTERS/Staff
November 16, 2021
(Reuters) – Several European indexes hit record highs on Tuesday, boosted by signs of easing U.S.-China tensions, strong earnings, and dovish statements from the European Central Bank chief.
The pan-European STOXX 600 rose 0.1% by 0829 GMT, adding to a recent string of record gains, as a key meeting between U.S. President Joe Biden and Chinese leader Xi Jinping saw both sides signalling a stabilization in the fraught relationship. [MKTS/GLOB]
Blue-chip indexes, including Germany’s DAX and France’s CAC 40, as well as euro zone shares also notched peaks.
Mining stocks, which have a large exposure to China, climbed 0.5% in early trading, while telecom stocks were boosted by Vodafone’s 4.6% gain after quarterly results.
Dutch tech investor Prosus NV rose 1.6% after forecasting higher profit for the first half of 2022 as it gained proceeds to the tune of $12.3 billion from selling part of its stake in Tencent.
ECB President Christine Lagarde on Monday reiterated her pushback against market bets for tighter monetary policy.
Investors now eye a batch of data, including euro area GDP figures, and a speech by Lagarde due later in the day.
(Reporting by Anisha Sircar in Bengaluru; editing by Uttaresh.V)
Source: One America News Network
