European Stocks Set To Follow Wall Street Higher
(RTTNews) - Stock futures point to a flat to slightly higher open on Tuesday as oil prices extended gains and Greece's new government proposed to end the confrontation with its international creditors by swapping outstanding debt for new growth-linked bonds.
It is a relatively quiet day on the economic front, with investors awaiting Eurozone producer price and U.K. construction PMI data as well as speeches by a couple of Federal Reserve officials later in the day for further clues on the global economic outlook.
The Asian markets are turning in a mixed performance, with Australian shares rising sharply to close at a near seven-year high after the country's central bank cut interest rates to a record low. Japan's Nikkei index fell 1.3 percent on a firmer yen amid worries about the health of the U.S. economy. Chinese shares are rallying after recent losses while Seoul shares ended little changed.
In domestic corporate news, Intertek Group Plc., a quality solutions provider to industries, said it has acquired Adelaide Inspection Services Pty for a total cash consideration of A$12 million.
French pharmaceutical firm Ipsen S.A. announced topline results for two double-blind phase III studies of Dysport in Pediatric Lower Limb spasticity in children with cerebral palsy and in Adult Lower Limb spasticity in patients who had experienced a stroke or traumatic brain injury.
Oil services provider Technip SA said it was awarded a contract by Qingdao Soda Ash Industrial New Material & Technology Co. to provide the technology, engineering, selected critical equipment and technical services for a 500 KTA ethylbenzene styrene monomer plant.
Alfa Laval AB reported fourth-quarter net income of 911 million Swedish kronor, up from 871 million kronor last year.
Spanish lender Banco Santander SA said its fourth-quarter profit attributable to the group climbed to 1.455 billion euros from 864 million euros last year.
European stocks rose on Monday despite sluggish manufacturing data from Germany and France and uncertainty surrounding debt negotiations in Greece. Greek bank stocks rebounded and bond yields fell after the country's new anti-austerity finance minister Yanis Varoufakis ruled out accepting more bailout cash and proposed ending a standoff with its international creditors. The German DAX rallied 1.3 percent, while France's CAC 40 and the U.K.'s FTSE 100 index both rose by half a percent.
On Wall Street, stocks fluctuated before rallying in late afternoon Monday, as oil prices advanced to a one-month high and disappointing factory, construction spending and consumer spending data revived hopes that the Federal Reserve would delay raising interest rates. The Dow gained 1.1 percent, the tech-heavy Nasdaq added 0.9 percent and the S&P 500 advanced 1.3 percent.
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Am heimischen Markt ging es zur Wochenmitte abwärts, wogegen der deutsche Leitindex zulegen konnte. Der Dow Jones zeigt am Mittwoch verhalten. In Asien war die Stimmung am Mittwoch überwiegend optimistisch.