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European stocks end higher, reclaim some lost ground after rout


Thursday, 16 August 2018 23:32 WIB

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European stocks closed solidly higher on Thursday, in a partial rebound from the previous session's sharp decline as Turkey's currency crisis continued to show signs of easing, and the prospect of new talks between the U.S. and China on trade gave some cause for optimism on that front.

The Stoxx Europe 600 rose 0.5% to 381.43. The rise comes after the index's biggest one-day fall since June 25, as well as its third decline of the past four sessions. The pan-European gauge is down 1.2% thus far this week, on track for its third straight weekly drop, as well as down 2% thus far in 2018.

Germany's DAX 30 rose 0.6% to 12,237.17, a partial recovery from a 1.6% slump in Wednesday's session.

France's CAC 40 rose 0.8% to 5,349.02 in its first positive session of the past five. The index suffered its steepest one-day percentage drop since March 2 on Wednesday.

The U.K.'s FTSE 100 rose 0.8% to 7,556.38, putting an end to its longest losing streak since February.

The euro rose slightly against the dollar, changing hands at $1.1368, compared with $1.1347 late Wednesday in New York. Thus far this year, the euro is down more than 5% against the buck.

Source : Marketwatch


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