European shares closed higher after US stocks closed higher
2018-11-08 09:05 am | Resource: News | No Views : 48
Investors continued to show optimism on Thursday after the mid-term elections in the United States, where stock indexes rose to the top in major European stock exchanges.
Stocks rose in general despite a drop in Germany's foreign trade surplus, which came on the back of a jump in imports to the euro zone's largest economy. The markets have apparently ignored the pessimistic corporate results from a number of major and major lenders.
German exports collapse unexpectedly
Official data revealed Thursday that German exports and imports fell unexpectedly in September. Exports fell 0.8% month-on-month, reflecting a 0.1% gain in August. Meanwhile, imports fell 0.4 percent after August's drop of 2.4 percent.
The trade surplus fell to a seasonally adjusted 17.6 billion euros from 18.2 billion euros a month earlier. On an annual basis, exports fell by 1.2 percent, while imports rose 5.3 percent in September. As a result, the unadjusted trade surplus fell to 18.4 billion euros from 24.2 billion euros a year earlier.
The current account surplus fell to 21.1 billion euros from 26.9 billion euros in the same period last year, the data showed.
European Stocks Open
- The FTSE 100 is up 0.43% in early trade. Coca-Cola was the best performer, jumping 2.52%.
- The DAX index rose 0.44%, led by the HeidelbergCement jump of 5.31%.
- The CAC 40 index rose 0.24% in Paris. Sodexo surged 6.83% to the highest level, followed by a 3.35% rise in Societe Generale. The French bank boosted earnings by 16.1% in the third quarter of a year earlier.
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