😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

European stocks set for strong week, Germany's DAX hits record high

Published 2021/01/08, 10:20
Updated 2021/01/08, 10:24
© Reuters.
DE40
-
STMPA
-
IFXGn
-
ASMI
-
MU
-
STOXX
-
005930
-
AMS
-
SXEP
-
SX7P
-
SXPP
-

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Jan 8 (Reuters) - European stocks rose on Friday, with Germany's DAX hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers.

The pan-European STOXX 600 index .STOXX rose 0.7% by 0810 GMT and was on track for a more than 3% weekly gain, with hopes of more U.S. stimulus boosting economically sensitive sectors such as miners .SXPP , oil & gas .SXEP and banks .SX7P .

Germany's DAX index .GDAXI jumped 0.8% after data showed both industrial output and exports rose more than expected in November. chipmakers Infineon IFXGn.DE , AMS AMS.S and ASM International ASMI.AS gained between 2.2% and 4.7% after global peers Micron Technology Inc MU.O and Samsung Electronics Co Ltd 005930.KS provided strong earnings reports.

Franco-Italian chipmaker STMicroelectronics STM.PA rose 4% after its early revenue estimate for the fourth-quarter came in above the previous range.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.