25 Jul 2014
European stocks turn positive
FXStreet (Córdoba) - European stocks turned positive in early trade Friday as markets shrugged off disappointing financial results from European companies and softer-than-expected German IFO data.
The Stoxx Europe 600 rose 0.10% to 344.66. As for country-specific indexes Germany’s DAX 30 was nearly flat but the France’s CAC 40 dipped 0.46%. The UK FTSE 100 rose 0.08%. Italian FTSE MIB gained 0.28% while Spanish Ibex 35 climbed 0.58%.
German IFO survey showed business climate index fell 108.0 vs expectations of a more modest dip to 109.4. Current conditions index dropped to 112.9 vs 114.5 expected.
In the FX space, the euro came under pressure after IFO data, sliding to a session low of 1.3442 after an uneventful Asian session. The GBP/USD steadied around 1.6980 following 2 days of falls.
As for commodities both gold and oil were trading higher by 0.15% and 0.12% respectively.
The Stoxx Europe 600 rose 0.10% to 344.66. As for country-specific indexes Germany’s DAX 30 was nearly flat but the France’s CAC 40 dipped 0.46%. The UK FTSE 100 rose 0.08%. Italian FTSE MIB gained 0.28% while Spanish Ibex 35 climbed 0.58%.
German IFO survey showed business climate index fell 108.0 vs expectations of a more modest dip to 109.4. Current conditions index dropped to 112.9 vs 114.5 expected.
In the FX space, the euro came under pressure after IFO data, sliding to a session low of 1.3442 after an uneventful Asian session. The GBP/USD steadied around 1.6980 following 2 days of falls.
As for commodities both gold and oil were trading higher by 0.15% and 0.12% respectively.