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European shares extend rally

April 28th, 2018 / / categories: 苏州美甲学校 /

European shares extended gains in early trade, continuing to draw support from the European Central Bank’s bond buying plan unveiled the previous session and with investors betting on an improvement in US jobs data due later.
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Sentiment also improved after German exports unexpectedly edged up in July, while China gave the green light for 60 infrastructure projects this week to give a boost to the economy.

The Euro Stoxx 50 was up 1.3 per cent, Germany’s Dax gained 0.7 per cent, Spain’s Ibex 35 added 1.3 per cent, but the UK’s  FTSE100 slipped 0.1 per cent.

“I am positive on the market in the near term. You have got the policy response coming through, valuations are still OK and the macroeconomic backdrop isn’t all that bad. These three things add to the momentum in the market,” Graham Bishop, equity strategist at Exane BNP Paribas, said.

Cyclical sectors such as banks, basic resources and construction, up 0.9 to 1.9 per cent, were the top gainers.

Reuters

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