Auto stocks drive European shares higher, as PMI data, ECB eyed

Auto stocks drive European shares higher, as PMI data, ECB eyed

Reuters  | Oct 24, 2019 15:24

Auto stocks drive European shares higher, as PMI data, ECB eyed

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 24 (Reuters) - European shares rose on Thursday lifted
by auto stocks after upbeat earnings from Daimler , while
investors awaited economic data and a central bank rate meeting
in the euro area to gauge the health of the bloc.
The pan-European STOXX 600 index .STOXX rose 0.3% at 0710
GMT, with auto stocks .SXAP outperforming the broader market
with gains of 1.6%.
Daimler DAIGn.DE rose 4% after reporting an 8% increase in
third-quarter operating profit. Other carmakers BMW BMWG.DE
and PSA Group PEUP.PA gained between 1% and 2%. On the other end of the spectrum, telecom maker Nokia
NOKIA.HE tumbled 20% after cutting its annual profit forecasts
for 2019 and 2020, dragging the Helsinki index .OMXHPI down
over 2%. Investors will closely watch Flash Purchasing Manager's
Index data for Germany, France, and the overall euro zone
between 0715 and 0800 GMT, and the European Central bank policy
announcement at 1145 GMT.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.