EUROPE Stocks climb on upbeat industrial output data

14 Nov 2022 , 07:59 PM

European stock markets were trading in positive territory around afternoon on Monday, 14 November 2022, as risk sentiments underpinned after Euro zone industrial output came in much stronger than expected in September. Meanwhile sentiments toward risk assets underpinned after reports that Beijing would introduce number of additional measures to support the real estate markets recovery and the Covid-hit economy. At 14:10 GMT, the pan European Stoxx 600 index added 0.38%, or 1.64 points, to 433.90. Germanys DAX index rose 0.64%, or 90.72 points, to 14,315.58 Frances CAC 40 index added 0.44%, or 28.84 points, to 6,623.46. The U.K.s FTSE 100 index added 0.8%, or 57.18 points, to 7,375.22. Switzerlands Swiss Market index fell 0.74%, or 81.79 points, to 11,045.36. Shares of Informa Inc climbed up after British events organiser upgraded its 2022 guidance, on Monday, encouraged by a recovery in demand for physical events and its subscription services. The company now expects adjusted operating profit for the year to be about 490 million pounds to 505 million pounds, from 470 million pounds to 490 million pounds it forecast earlier. Informa also raised its annual revenue guidance to the range of 2.30 billion pounds to 2.35 billion pounds, from 2.15 billion pounds to 2.25 million pounds. Roche shares were lower after the Swiss pharmaceutical companys Alzheimers drug candidate failed two long-awaited trials. Roche said in a statement on Monday that twin studies known as Graduate 1 and 2 had not reached their main goal of showing that the drug gantenerumab could preserve abilities such as remembering, solving problems, orientation and personal care in patients suffering from early stages of Alzheimers disease. ECONOMIC NEWS: Euro-area industrial production rose by 0.9% in September from the previous month and 4.9% from a year earlier, according to the European Unions statistics office Eurostat data released on Monday. The data for August was revised upwards to a rise of 2% on the month and 2.8% year-on-year from 1.5% monthly and 2.5% year-on-year previously.Powered by Capital Market – Live News