Trending News

Blog Post


European shares extend recovery; travel stocks gain By Reuters 

© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany August 19, 2021. REUTERS/Staff

(Reuters) – European stocks extended their recovery on Tuesday after a full U.S. approval of a COVID-19 vaccine boosted Wall Street to record highs, while latest data showed a stronger-than-expected economic recovery in Germany.

The pan-European index rose 0.3% by 0711 GMT after last week’s sell-off knocked it lower by 3% from its record highs.

Travel and leisure, technology and mining stocks were the top gainers, up between 0.9% and 1.2%.

Wall Street’s Nasdaq reached an all-time closing high after U.S. health regulators granted full approval to the COVID-19 vaccine developed by Pfizer Inc (NYSE:) and BioNTech SE (NASDAQ:) in a move that could accelerate U.S. inoculations.

Meanwhile, data showed Germany’s gross domestic product grew by 1.6% on the quarter from April to June, slightly up from its previous estimate of 1.5% as private consumption and state spending helped.

Marks and Spencer (LON:) Group rose 3.1% to the top of the STOXX 600 after Berenberg and Credit Suisse (SIX:) raised their price targets on the company’s stock.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Related posts

Leave a Reply

Required fields are marked *