FTSE Leads European Stocks Advance, Miners – Top Gainers
The European stocks opened a fresh trading week on a positive note, now extending initial gains largely on the back of strong gains seen in the resource and mining stocks. London markets emerge the best performers, while the French stocks waver between gains and losses amid a restively quiet EUR calendar today.
Markets remained largely unperturbed by upbeat Eurozone retail PMI and Sentix data as disappointing German factory orders dampened investors’ sentiment. The Eurozone Sentix Investor Confidence came in at 9.9 in June, compared to 6.2 seen last month and against expectations of 7.1 reading. While German factory data showed a 2.0% drop in April on a monthly, against expectations of a 0.5% decrease in April.
However, higher oil and metals kept the sector specific stocks underpinned and hence, contributed majorly to the upbeat momentum surrounding the region’s indices.
Meanwhile, Germany's DAX 30 index gains +0.25% to 10, 130 points, the UK’s FTSE jumps +0.91% to 6,265. Among the other indices, the French CAC 40 index trades modestly flat at 4,425 levels, while the pan-European Euro Stoxx 50 index rises +0.18% to 3,002 points.