August 06, 2015

Europe Index Futures Advance, Signaling Stock Rally to Resume

European index futures climbed, indicating equities will resume a rally that got paused on Tuesday.

Contracts on the Euro Stoxx 50 Index expiring in September added 0.4 percent to 3,631 at 7:10 a.m. in London.

The Stoxx Europe 600 Index slipped for the first time in six days on Tuesday, led by a decline in lenders. It had gained 3.5 percent in the previous five days.

Societe Generale SA may move after France’s second-largest bank by market value reported its highest profit since the financial crisis.

 ING Groep NV may be active as the biggest Dutch lender said net income jumped on growth in lending. In Greece, where the market reopened after a five-week shutdown, stocks dropped for a second day on Tuesday, with the ASE Index closing at its lowest level since September 2012.

 A gauge tracking the nation’s banks tumbled to a record. The Stoxx 600 rebounded 7 percent from its low last month through Tuesday.

Concern that Greece may leave the euro eased, while earnings and takeover activity further propelled shares higher.

 The benchmark gauge has advanced 16 percent in 2015. Markets in Italy and France are among the best performers in the developed world this year.

bloomberg.com

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