Share

European stocks climb as China data fuel gains

London - European stocks headed for their highest level in three weeks as miners led gains on data showing China’s economic growth exceeded estimates.

The Stoxx Europe 600 Index rose 0.2% at 09:30, poised for its longest streak of gains since April. Metal producers tracked copper prices higher, with telecommunications and technology companies also advancing.

Investors in European equities are switching into stocks most geared to benefit from a pickup in economic growth and borrowing costs - including miners and banks - and deserting their defensive peers, reviving a trade that dominated the market at the end of last year.

China’s economy maintained in the second quarter, driven by a pickup at the nation’s factories. Stoxx 600 miners rose for a sixth straight day, extending a three-month high.

Among shares active on corporate news, ITV gained 1.9%. EasyJet CEO Carolyn McCall is taking on the top role at the broadcaster. EasyJet dropped 0.7%. Telenor rallied 6.2% after reporting a narrower-than-forecast quarterly loss and saying it will buy back shares.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.36
-0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.50
+0.4%
Palladium
1,002.25
+0.1%
Gold
2,211.80
+0.8%
Silver
24.62
-0.1%
Brent Crude
86.09
-0.2%
Top 40
68,080
+0.6%
All Share
74,278
+0.5%
Resource 10
56,967
+2.4%
Industrial 25
103,572
+0.3%
Financial 15
16,456
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders