gnutrade.satya
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After a five day stint of being low, finally European stocks were seen rising after good economic data came in from the US. The Conference Board's gauge of the economic outllok in the US advanced 1.2 percent after revising to 1.1 percent in April.
Another report from the Philadelphia Federal Reserve Bank revealed a contraction in June but less than what was expected in the manufacturing industry in the US.
Howard Wheeldon, strategist at BGC Partners, said: "The Philly Fed is quite important as confidence indicators go and is another positive signal. Contractions are at a slower pace and that is important. European markets keep following the US markets, but I think we are in for a very rude awakening. I think there is a necessary correction waiting to be had, but clearly we are not having it today."
The FTSE 100 index was up 0.1 percent, Germany's DAX was up 0.8 percent and France's CAC 40 was 1 percent higher.
Another report from the Philadelphia Federal Reserve Bank revealed a contraction in June but less than what was expected in the manufacturing industry in the US.
Howard Wheeldon, strategist at BGC Partners, said: "The Philly Fed is quite important as confidence indicators go and is another positive signal. Contractions are at a slower pace and that is important. European markets keep following the US markets, but I think we are in for a very rude awakening. I think there is a necessary correction waiting to be had, but clearly we are not having it today."
The FTSE 100 index was up 0.1 percent, Germany's DAX was up 0.8 percent and France's CAC 40 was 1 percent higher.
