{"id":50986,"date":"2024-09-27T11:36:15","date_gmt":"2024-09-27T11:36:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/09\/27\/european-stocks-climbing-higher-look-set-to-end-week-on-firm-note\/"},"modified":"2024-09-27T11:36:15","modified_gmt":"2024-09-27T11:36:15","slug":"european-stocks-climbing-higher-look-set-to-end-week-on-firm-note","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/09\/27\/european-stocks-climbing-higher-look-set-to-end-week-on-firm-note\/","title":{"rendered":"European Stocks Climbing Higher, Look Set To End Week On Firm Note"},"content":{"rendered":"
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European stocks are up firmly on Friday and look set to end the week on a positive note, amid renewed optimism over China’s stimulus moves, and on expectations of more interest-rate cuts by the Fed and other central banks.<\/p>\n

Investors are also digesting the latest batch of economic data, and await some key reports from the U.S.<\/p>\n

The pan European Stoxx 600 is up nearly 0.3%. The U.K.’s FTSE 100 is climbing 0.45%, Germany’s DAX is up 0.78% and France’s CAC 40 is gaining 0.25%, while Switzerland’s SMI is up 0.13%.<\/p>\n

On the economic front, France’s consumer price inflation eased in September to the lowest level in more than three years amid a fall in energy prices, a provisional estimate from the statistical office INSEE showed. A separate official report showed that producer prices increased for the second straight month in August.<\/p>\n

France’s consumer price index climbed 1.2% year-over-year in September, slower than the 1.8% rise in the previous month. Economists had expected inflation to ease to 1.6%. On a monthly basis, consumer prices fell 1.2% in September, reversing a 0.5% rise in August.<\/p>\n

EU-harmonised inflation also softened to 1.5% from 2.2% in the prior month. Monthly, the HICP showed a decrease of 1.2%.<\/p>\n

In a separate report, the statistical office revealed that industrial producer prices in the home market rose 0.2% month-on-month in August, slightly slower than the 0.3% increase in the previous month. On an annual basis, the decline in producer prices deepened somewhat to 6.3% from 5.7% in July.<\/p>\n

Data released earlier in the day showed Germany’s Unemployment rate steady at 6% on expected lines. The number of unemployed individuals however rose by 17,000 in September 2024 versus 12,000 that the markets<\/span> had anticipated. <\/p>\n

In the UK market, Burberry Group is climbing about 5.5%. Prudential is up nearly 3% on reports the firm is close to finalizing a 15-year partnership with Indonesia’s largest Islamic lender, PT Bank Syariah Indonesia, in a deal reportedly worth several hundred million dollars. Prudential has also reportedly agreed to acquire full ownership of Prudential Zenith Life Insurance, its joint venture in Nigeria. <\/p>\n

Frasers Group, Croda International, Easyjet, Convatec Group, Smith & Nephew, J Sainsbury, Entain, WPP, IAG, Melrose Industries, 3i Group, Halma, Associated British Foods, Whitbread and BT are gaining 1 to 2.2%.<\/p>\n

Flutter Entertainment is declining 2.5%, while RightMove and Fresnillo are down 1.4% and 1.1%, respectively.<\/p>\n

In the German market, BASF is up 6% and Brenntag is rising 5.5%. Porsche, Infineon, Siemens Healthineers, Continental, Volkswagen, Mercedes-Benz, BMW and Bayer are up 3 to 4.5%.<\/p>\n

Zalando, Puma, Daimler Truck Holding, Adidas, Covestro, Vonovia, Sartorius and Henkel are also notably higher.<\/p>\n

Siemens Energy, Merck, HeidelbergCement, Rheinmetall and SAP are weak.<\/p>\n

In the French market, STMicroElectronics is surging 4.3%. Stellantis, Kering, Renault and Teleperformance are gaining 3 to 4%.<\/p>\n

Edenred is up 2.5%. Essilor, Carrefour, Capgemini, Societe Generale, Air Liquide, Pernod Ricard, LVMH, Michelin and ArcelorMittal are up 1 to 2%.<\/p>\n

Dassault Systemes, Schneider Electric and Safran are down 1.2 to 1.7%. L’Oreal and AXA are also notably lower.<\/p>\n

In the Swiss market, SIG Group and Clariant are rising 3.5% and 3.1%, respectively. Adecco is up nearly 3%. Tecan Group, Lindt & Spruengli, Avolta, Straumann Holding, Barry Callebaut, Flughafen Zurich, Richemont and Sonova are also up with strong gains.<\/p>\n

ABB, Holci, Lonza Group, Georg Fischer, Belimo Holding, Schindler Ps and Schindler Holding are notably lower. <\/p>\n<\/p>\n<\/div>\n