It looks like your browser is not up to date.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

Europe close: Investor sentiment buoyed by record highs on Wall Street

Fri 16 April 2021 19:07 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

Market latest

FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ

7043.61 | Positive 80.28 (1.15%)

Prices delayed by at least 15 minutes

(Sharecast News) - Stocks on the Continent extended their recent gains, taking their cue from another session of record highs on Wall Street.

Stoking risk appetite was data showing a much bigger than expected rise in US housing starts, which added to expectations for a big rebound in activity in 2021.

"The reopening trade is still running strong now that the US has administered over 200 million COVID vaccines. The breakdown of the correlation of better data and higher yields is also providing added fuel for stocks" said Edward Moya, senior market analyst at Oanda.

The benchmark pan-European Stoxx 600 rose 0.90% to 442.49, alongside a 1.34% advance for Germany's Dax to 15,459.75 while the FTSE Mibtel was up 0.88% to 24,744.38.

Not surprisingly, cyclical names did best, with the Stoxx 600s gauge for Autos and Parts companies up by 2.11% and that for Banks 1.64% higher.

The sector index for Basic Resources meanwhile added 1.10%, despite a slate of modestly weaker-than-expected activity data out of China for last month.

Nonetheless, analysts at Pantheon Macroeconomics said that Chinese economic growth should remain "elevated" in 2021, despite the "blemish" from soft fixed asset investment in March.

In Europe, German Chancellor, Angela Merkel, was reportedly pushing for greater powers from lawmakers that would allow her to impose coronavirus lockdowns and curfews where needed in her country.

    Daily market update emails

    • FTSE 100 riser and faller updates
    • Breaking market news, plus the latest share research, tips and broker comments

    Register now for free market updates

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.