European stocks rose on Thursday in narrow but broad progress, as expectations build for a stronger economy after US President Joe Biden’s first full day in office.
Up eight of the last 11 trading days, the Stoxx Europe 600 SXXP,
rose 0.3%, even as both the UK FTSE 100 UKX,
and French CAC 40 PX1,
declined.
Following are new records for the S&P 500 SPX,
and Nasdaq Composite COMP,
US stock futures ES00,
inched higher.
Biden’s first day in office involves the signing of several action orders, while he aims to get his $ 1.9 trillion fiscal stimulus proposal through the U.S. Senate where Vice President Kamala Harris an unbroken vote. Early signs from the employment season have also been encouraging.
Markets do not expect any changes from the European Central Bank’s decision at 7:45 am East, with attention turning to the press conference with ECB President Christine Lagarde.
Of the stocks in question, Sage Group SGE,
UK accounting software company rose 5%, after repeating full-year guidance and saying first-quarter fiscal recycling revenues rose 4.7%.
Zur Rose ROSE,
it also rose 5%, as the Swiss – based mail order and wholesale pharmacy said fourth – quarter revenue jumped 24%.
IGG Group,
fell 2%, after agreeing to buy TastyTrade for $ 1 billion to expand into the U.S. options and futures market, which it says is more than diversified options, money and options markets European Turbo together.