European Stocks Rise But EUR Struggles Against USD

January 9, 2018 Share Print 0

European stocks climbed for a fifth session on Tuesday, as upbeat German economic data and a major strategic move by French telecoms and cable group Altice NV cheered investors. Equities in the region stayed around their highest levels since 2015.

The Stoxx Europe 600 index SXXP, +0.43% gained 0.3% to 399.63. All sectors rose, led by gains for the basic materials, tech and telecom sectors. On Monday, the index rose 0.3% and closed at its highest since July 2015, according to FactSet data.

The pan-European benchmark was on track to pierce the 400 level for the first time since mid-2015, according to FactSet data.

In Frankfurt on Tuesday, the DAX 30 index DAX, +0.13% added 0.2% to reach 13,394.60, wavering around a two-month high. France’s CAC 40 PX1, +0.67% was up 0.5% at 5,515.99.

Spain’s IBEX 35 IBEX, +0.27% turned higher, rising 0.5% to 10,445.80, and the U.K.’s FTSE 100 index UKX, +0.45% picked up 0.3% at 7,720.96, on course for a fresh record close.

The euro EURUSD, -0.4011% traded at $1.1941, lower than $1.1968 late Monday in New York.

via MarketWatch

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.