European Stocks Extend Climb As Earnings Overshadow Ukraine Caution . . . . . . . . . . . . . . European stocks indices advanced on Wednesday tracking gains in Wall Street and Asia, while solid corporate earnings news by Dutch paints and chemicals firm AkzoNobel, Daimler AG and the Finnish technology company Outetec OYJ eclipsed ongoing geopolitical concerns in Gaza and Ukraine. - STOXX Europe 600 gained 0.35 percent to 343.65 points - Euro Stoxx 50 added 0.59 percent to 3,207.97 points Daimler AG, the world’s third largest luxury vehicles maker, reported sharp rise in its second quarter operating earnings on record sales at its Mercedes-Benz luxury car, while the German automotive group raised its full year outlook. The company also confirmed it expect to report significant growth for 2014, however, Chief Finance Officer Bodo Uebber warned the broader economic outlook remains uncertain. On data front, minutes from the Bank of England`s last meeting showed policymakers had voted unanimously in favor of keeping rates unchanged 0.5%, where they have been for more than five years. But the minutes noted that for some BoE policy members the decision had become more balanced in the past few months than earlier in the year. - British FTSE 100 was up 0.31% to 6,816.20 points - Germany`s DAX edged 0.63% higher to 9,795.82 points - France’s CAC 40 index rose 0.57% to 4,394.44 points On other news, European Union failed to announce tough sanctions against Russia at a meeting in Brussels. The EU foreign ministers, however, kept their threats of harsher sanctions against a range of Russian on Tuesday in response to the suspected downing of a Malaysia Airlines jetliner by Moscow-backed rebels in eastern Ukraine. #egyptyard
Posted on: Wed, 23 Jul 2014 12:18:53 +0000
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