Egypt's PM, US secretary of energy mull cooperation in energy, electricity    Egypt's PM meets US vice president Pence    IMF downgrades global economic growth forecast to 3%, lowest level since 2008    We hope to strengthen ties with Egypt: Albanian president    Moroccan film Nomades scoops awards in Alexandria Film Festival    Egyptian Arab Land Bank to up funding into nonbanking financial firms    Turkey says its forces holding part of Syrian NE    Bulgarian PM urges soccer chief to resign after racism furore    England made a big statement against racist abuse, says Southgate    Dutchman Vorm returns to Tottenham as goalkeeping cover    Clashes over Catalan separatists' convictions injure 170    British police order a halt to climate change protests in London    Brexit deal ‘more and more difficult' this week, EU summit to discuss delay    Sisi congratulates Tunisia's new president for win, hopes for more cooperation    Dollar loses steam versus yen as trade deal, Brexit hopes face reality check    Oil falls as weak China data compounds partial trade deal doubts    Egypt's comprehensive health insurance system doesn't set spending cap on services: Finance minister    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Saudi visit showcases Putin's growing Middle East influence: Reuters report    Trump prepares to impose sanctions on Turkey    Egypt spares no effort to boost cooperation with Sudan: Egyptian ambassador to Khartoum    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    Egypt's Sisi, Ethiopian PM to meet in Moscow to discuss GERD issue    'Alarming upsurge' in measles has devastating impact, WHO warns    Vitamins, omega-3 supplements improve autism symptoms    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Why vacations are important for health    A brief history of the Cairo Opera House    Egypt's Zamalek president hopes 80,000 supporters attend Generation Foot match    Farwell to Egyptian comic actor Talaat Zakaria    Eating fish is linked to better sleep, higher IQ    Egypt's Rowad Modern Engineering renovates 40% of Manial Palace    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Europe stocks higher after China data; Elekta up 4%; US jobs eyed
Published in Amwal Al Ghad on 01 - 09 - 2016

European stocks traded higher in morning trade on Thursday as investors reacted to a rebound in oil prices and fresh data from China.
The pan-European STOXX 600 index was trading 0.25 percent higher with nearly all sectors in positive territory.
In terms of individual stocks on the STOXX 600 index, Pernod Ricard shares were 1.1 percent higher after highlighting improving sales in China.
Shares of Roche were also trading in positive territory after the drugmaker said its cancer immunotherapy Tecentriq had produced positive results in a Phase III study.
Hays was the worst performer on the index, down 3.4 percent, after the recruiter said hiring in Britain weakened significantly shortly after the June 23 vote to leave the European Union.
The best performer on the index was Elekta, up 3.9 percent, after the maker of radiation therapy equipment posted first-quarter core profit above forecasts, Reuters reported.
Fresh China data
European markets bucked the gloomy trend set in Asia, where markets traded mostly lower on Thursday, shrugging off a better-than-expected reading on China's manufacturing sector.
The government survey of large enterprises in the manufacturing sector saw an uptick in factory activity last month. The official manufacturing purchasing managers index (PMI) for August rose to 50.4, beating a Reuters estimate of 49.9 and the July print of 49.9. Levels above 50 indicate expansion, while levels below indicate contraction.
US jobs eyed
Sterling jumped 1 percent against the euro and a similar amount against the dollar to trade at $1.3249 after data showed that the U.K. manufacturing industry saw a strong post-Brexit vote rebound in August. The London-based FTSE index was trading 0.13 percent higher.
Meanwhile, investors are also gearing up for the all-important U.S. jobs data due on Friday. The non-farm payrolls report will be eagerly watched by the U.S. Federal Reserve and could determine whether the central bank increases interest rates in September.
"If we are right about August, and the hourly earnings number undershoots consensus, as we expect—thanks to a long-standing and persistent calendar quirk— the chances of a September rate hike will recede," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note Wednesday.
Source: CNBC


Clic here to read the story from its source.