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- European Stocks. First hour: Indices continue climb for a fourth day
European Stocks. First hour: Indices continue climb for a fourth day
European indices continued to rise for a fourth day amid a global rally during early trading tracking strong gains on the Wall Street where the Dow Jones posted its biggest daily gains in three years. Stocks were supported by a better-than expected German Gfk Consumer Confidence Survey. The index rose to a six-month high of 9.0 from 8.7 in the previous month. Analysts had expected Consumer Confidence to be at 8.9 for November. The Producer Price index stabilized with a reading of 0.0% compared to forecasts of -0.2%. Equities remained supported after the FED's decision on Wednesday to be "patient" before hiking interest rates, making it unlikely seeing an raise before the FED's April meeting. Markets await Eurozone's Current account, the outcome of E.U.'s economic summit, U.K.'s PSNB and CBI Retail Sales Volume.
The FTSE 100 index is currently trading +0.73% quoted at 6,513.27 points supported by strong gains in the financial sector, Germany's DAX 30 added +0.58% trading at 9,868.65. France's CAC 40 rose by +0.78%, currently trading at 4,282.46 points.
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