EUROPE MARKETS: European Stocks Cheer North Korea's Pullback On Missile Threat
15 Août 2017 - 10:23AM
Dow Jones News
By Sara Sjolin, MarketWatch
U.K. inflation data on deck
European stocks continued to rise on Tuesday, with investors
encouraged by North Korea's decision not to follow through with its
threat to attack U.S. island territory Guam following a war of
words between the two nations.
The Stoxx Europe 600 index advanced 0.3% to 377.41, adding to a
1.1% jump from Monday.
The positive trading mood has been spurred by receding fears
that the U.S. and North Korea are heading toward a nuclear war.
U.S. officials over the weekend played down the threat of a
military conflict, saying they instead were seeking diplomatic
solutions
(http://nation.foxnews.com/2017/08/13/mattis-and-tillerson-were-holding-pyongyang-account)
with the isolated nation.
Further easing tensions, North Korean leader Kim Jong Un decided
not to launch a threatened missile attack on Guam
(http://www.marketwatch.com/story/north-korea-steps-back-from-plan-to-launch-missiles-at-guam-2017-08-14),
Pyongyang's state media reported on Tuesday. The leader, however,
warned that he could change his mind "if the Yankees persist in
their extremely dangerous reckless actions."
Economic news: Economic growth in Germany unexpectedly slowed in
the second quarter
(http://www.marketwatch.com/story/german-growth-slows-unexpectedly-in-second-quarter-2017-08-15),
with gross domestic product expanding 0.6%, compared with 0.7% at
the start of the year. Analysts had forecast a 0.7% reading.
On the year, however, the economy grew 2.1%, up from a revised
2% in the first quarter.
"Germany's economic success story goes on and on and on. And
there is very little reason to fear a sudden end to the current
performance, even though some kind of slowdown from current growth
rates looks almost inevitable," said Carsten Brzeski, chief
economist at ING, in a note.
"The drivers supporting the domestic economy, like record high
employment, higher wages and government consumption, might lose
some momentum along the way, without turning negative," he
added.
The euro extended its loss after the data, buying $1.1741,
compared with $1.1782 late in New York.
Later in the morning, the closely watched July inflation data
for the U.K. will be released. The report is seen as a key factor
for the Bank of England to decide if it will raise interest rates
in 2018.
The pound traded at $1.2942 ahead of the data, compared with
$1.2964 late Monday in New York.
Indexes: Germany's DAX 30 index rose 0.3% to 12,199.18, while
France's CAC 40 index was up 0.3% at 5,135.42. The U.K.'s FTSE 100
index climbed 0.1% to 7,362.91
(http://www.marketwatch.com/story/uk-stocks-rise-for-2nd-straight-day-ahead-of-key-inflation-data-2017-08-15).
Stock movers: Shares of Danone SA (DANOY) (DANOY) gained 2.5%
after media reports that activist hedge fund Corvex Management has
built a stake in the French dairy and water company.
Shares of Next PLC (NXT.LN) lost 2.8% after Berenberg cut its
rating on the high-street retailer to sell from hold.
Hargreaves Lansdown PLC (HL.LN) fell 1.5% even after the
financial services company reported a 20% jump in full-year profit
(http://www.marketwatch.com/story/hargreaves-lansdown-full-year-profit-jumps-20-2017-08-15).
K+S AG (SDF.XE) slid 4.5% after the fertilizer company warned it
won't reach its 2020 earnings target because of weak potash
prices.
(END) Dow Jones Newswires
August 15, 2017 04:08 ET (08:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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