European stocks close higher as commodities shares rally



(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* Miners rally on the strong commodity prices

* Euro zone business activity resumes growth in July

* Swiss market hit as defensive stocks weigh (Updates to market close)

By Sruthi Shankar

Aug 5 (Reuters) - Positive earnings reports and a surge in commodities shares lifted European stock markets on Wednesday, but losses in defensive sectors and worries about surging coronavirus cases globally tempered the mood.

London-listed mining groups Rio Tinto RIO.L , BHP Group BPPB.L and Glencore GLEN.L provided the biggest boost, sending the broader mining index .SXPP up 4.0% on the back of stronger metal prices.

Oil majors BP BP.L and Total TOTF.PA gained about 2% as oil prices surged on a drop in U.S. crude inventories and a weak dollar.

The broader pan-European STOXX 600 index .STOXX ended 0.5% higher, with London's commodity-heavy FTSE 100 .FTSE rising 1.1% and Germany's DAX .GDAXI up 0.5%.

"Equity markets rallied alongside continued strength in precious metals," Stephen Gallo, European head of FX strategy, said in a note. "The headline PMI numbers from Europe certainly did not harm risk assets."

IHS Markit's final reading of euro zone business activity showed the bloc returned to modest growth in July as coronavirus restrictions were lifted. Separate data showed the volume of retail sales rebounded in June to levels recorded in February.

The numbers, along with some positive earnings reports, helped investors look past a worsening of diplomatic ties between the United States and China and rising COVID-19 cases in parts of Europe and the United States.

In earnings-driven moves, German logistics group Deutsche Post AG DPWGn.DE gained 2.5% after reporting a better-than-forecast rise in operating profit, benefitting from a jump in ecommerce during the pandemic.

Chipmaker Dialog Semiconductor DLGS.DE rose 9.1% after posting second-quarter revenue above its previous estimate, while residential real estate company Vonovia VNAn.DE was up 3% having confirmed its guidance for the year.

Travel & leisure stocks .SXTP extended gains for a third straight session, with British Airways-owner IAG ICAG.L , Lufthansa LHAG.DE and Easyjet EZJ.L up between 6.5% and 10.5%.

"Manufacturing PMIs earlier this week are certainly helping the cyclical story, but there is temporary nature to the current outperformance," said Edward Park, deputy chief investment officer at Brooks Macdonald Asset Management.

Among the decliners, BMW BMWG.DE fell 3.5% as a 25% fall in deliveries of luxury cars during lockdowns pushed the carmaker to a second-quarter operating loss.

Defensive sectors such as food & beverage .SX3P , healthcare .SXDP and telecoms .SXKP , which tend to decouple from the economic cycle, also fell, knocking 0.6% off the Swiss equities index .SSMI which is heavy on such companies.
Reporting by Sruthi Shankar in Bengaluru; editing by Patrick Graham, Kirsten Donovan

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明