European stocks rise for 6th day as focus turns to earnings season

Tuesday, 10 July 2018 23:10 WIB

Stoxx 600Saham EropaStoxx Europe 600


European stocks rose on Tuesday, scoring a sixth straight session of gains as traders put aside trade war concerns for now and instead looked ahead to what is expected to be a positive earnings season.

U.K. politics were still in focus a day after two high-profile resignations from the cabinet sparked speculation about a fresh general election.

The Stoxx Europe 600 index rose 0.4% to end at 386.25, scoring its highest close since June 15, according to FactSet data.

The U.K.’s FTSE 100 index added 0.1% to 7,692.04, while France’s CAC 40 index put on 0.7% to 5,434.36.

Germany’s DAX 30 index ended up 0.5% at 12,609.85.

The euro traded at $1.1735, up from $1.1733 on Monday, while the climbed pound to $1.3262 from $1.3258.

Tuesday’s advance was seen as a continuation of recent trading action, as investors put the U.S.-China trade spat on the back burner for now. Instead, investors are gearing up for the second-quarter earnings season, looking to U.S. corporates for a steer.

The season there kicks off in earnest this week, with PepsiCo Inc. reporting on Tuesday and major banks JPMorgan Chase & Co. and Citigroup Inc. reporting on Friday.

Source: Marketwatch


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