European stocks defend gains post EZ data

FXStreet (Mumbai) – European stocks started the day on an optimistic note and now keeps the green, ignoring China fears led-negative close for major Asian indices, as the growing uncertainties over the timing of the Fed rate-hike continue to lift investors’ sentiment.

Upbeat EZ data cheered

More so, the European indices remain elevated as markets cheer the latest above estimates Euro zone industrial production data which helped fill-in an otherwise calmer European session.

Eurostat reported July’s industrial output data for the euro zone, which grew 0.6% and 1.9% on a monthly and annual basis, respectively, improving from June and also better than analysts had expected.

Germany’s DAX 30 index pared gains and now trades 0.20% higher at 10,142, while the UK’s FTSE 100 index advances 0.85% to 6,169.50 ahead of Tuesday’s UK CPI figures. Among the other indices, the French CAC 40 index gains 0.20% to 4,559, while the pan-European Euro Stoxx 50 index rises 0.27% to 3,196.50.

European stocks started the day on an optimistic note and now keeps the green, ignoring China fears led-negative close for major Asian indices, as the growing uncertainties over the timing of the Fed rate-hike continue to lift investors’ sentiment.

(Market News Provided by FXstreet)