European Stocks keep bullish options alive
Investors focus their attention on economic cooperation between US Treasury Secretary Janet Yellen and the Vice Premier of China. These talks favor a new climate of commercial stability that is being received in the Stock markets on both sides of the Atlantic with a moderately bullish tone.
The main European selectives remain on the resistance they managed to overcome last Friday. They give hope to those who believe bullish adventures are about to come following months.
Futures point to a stronger open for European Stocks. The benchmark
STOXX 600 is set to start with a new record high. The pan-region Euro Stoxx 50 futures increased by 0.5%. Meanwhile, futures for German DAX and London’s FTSE gained 0.1% each.
Asian shares buoyed by data from Australia and China
Asia-Pacific stocks have posted gains in trading on Thursday. Investors have been reluctant to release data in Australia and China.
South Korea’s Kospi leads the region’s gains with a rise of 1.01%.
Mainland China shares increased in the afternoon, with the Shanghai composite rising by 0.38%. At the same time, the Shenzhen component advanced by 0.445%. Hong Kong’s Hang Seng Index lost 0.4%.
A private survey released Thursday showed slowing growth in Chinese services activity in May. The Caixin Services Purchasing Managers Index for May stood at 55.1, down from April’s reading of 56.3. Still, it was well above the 50 level that separates expansion from contraction.
PMI readings above 50 represent expansion, while those below 50 represent contraction. The PMI readings are sequential. They represent expansion or contraction month over month.
In Japan, the Nikkei 225 gained 0.47%. At the same time, the Topix index advanced by 0.83%.
Shares in Australia also increased. The S&P/ASX 200 index progressed by 0.44%. According to data released Thursday by the country’s Statistical Office, the retail sales in Australia advanced by 1.1% MoM in April.
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