European Stocks Gain On Positive US Data

Since February, 2011, the European stocks have climbed up to its highest figures amid positive economic data of US. Incidentally, the House of Representatives have already voted to put the borrowing limit to temporary suspension. The benchmark gauge Stoxx Europe 600 Index has increased by 0.2% and is currently at 288.85. The gauge actually rebounded today from an earlier gain of 0.4%. In 2013, Stoxx 600 has experienced a gain of 3.3% after the lawmakers of US agreed on a compromise budget deal.

According to the Senior Market Strategist of Kliegel & Hafner AG, Andreas Lipkow, the US market supplied Europe today the fuel to go to higher levels. He added that the market was a bit uncertain after disappointing Apple data came out yesterday; however, the positive US economic data of today helped it experience profits.

Incidentally, the most valuable company in the world, Apple has reported a profit of less than 1% to $13.1 billion for the time period that ended on 29th December. The overall sales increased by 18% to $54.5 billion, less than the initial estimate of $54.9 billion.

Coming to company stocks, EasyJet Plc. posted its highest value since the initial public offering held 12 years ago. The company experienced a gain of 5.1% and is priced at 898.5 pence per share, mainly helped by the report that shows that the fiscal first quarter sales gained. On the other hand, Logitech International declined by 9.6% as it reported a third quarter loss of $195 million. After posting the loss figures, the biggest maker of computer mouse has put the video security and remote control businesses for sale. Monte Paschi also had similar fate as its shares plummeted by 8.2%. The Central Bank of Italy have announced of review procedure of the documents covering financial transactions that the company didn’t publicly released to regulators.

Opap SA experienced its biggest decline in last 4 months, after going down by 11%. The European Court of Justice has ruled that Opap’s monopoly on the Gambling market in Greece is illegal and this delivered a big blow to the company.

Posting its biggest increase in 5 months, Vodafone Group went ahead by 3.2%. Croda Internationals Plc. also climbed up by 3.4% as JPMorgan Chase & Co. gave its stocks a buy rating. It is expected to post good full year earnings figures.