European stock indices show a predominantly positive trend, heading to third consecutive session increases. The growth of indices helps to gradually improve investor confidence.
The final report, published by the Statistical Office Destatis, showed that the German economy in the 2nd quarter increased by 0.4% compared to the previous three months, when GDP grew by 0.7%. In annual terms, the economy has added 3.1%. The last change (as in the quarterly and on an annual basis) in line with expectations. At the end of the 2nd quarter, German exports increased by 1.2% and imports decreased by 0.1%. Meanwhile, consumer spending rose by 0.2% after rising 0.3% in the 1st quarter.
A certain pressure on the index has decline of oil prices, due to concerns about growth in US oil inventories. Recent data from API revealed that for the past week US crude inventories rose by 4.5 mln barrels. Analysts had forecast a decline to 0.5 mln barrels. Gasoline inventories fell by 2.2 million barrels, while distillates -. 834 million barrels.. Later, the official statistics from the US Department of Energy will be released today. It is predicted that crude oil inventories fell by 0.85 million barrels
The composite index of Europe’s largest enterprises Stoxx 600 added 0.5 percent. volatility gauge shows the minimum monthly fluctuations since March 2015, as traders await clarity from the Fed regarding the prospects for a rate hike.
While most industry groups showing growth, shares of commodity producers falling on the background of the renewed drop in oil prices.
Quotes of Glencore Plc tumbled 5.7 percent after the company reported a drop in profit margins in the first half of this year.
The cost of Svenska Cellulosa AB increased by 11 percent on news that the company will be divided into two parts.
Shares of H. Lundbeck A / S rose 2.5 percent after the Danish pharmaceutical company raised its forecasts for sales and earnings for 2016.
Price of WPP Plc shares increased by 5.6 percent as sales beat forecasts in the first half.
At the moment:
FTSE 100 6852.59 -15.92 -0.23%
DAX +26.68 10619.56 + 0.25%
CAC 40 +19.74 4441.19 + 0.45%
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