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John Wang
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Stocks
May 15 19:00

Europe enjoys good corporate news

Positive data from China helps as well.
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European stock saw gains on May 15. The market was driven up by the optimistic corporate updates as well as impressive China’s industrial output data.
By 08:25 GMT, German DAX gained 1.3%. French CAC 40 gained 0.9% and British FTSE gained 1.2%.
Earlier today China revealed that its industrial output went up 3.9% last month, surpassing the estimates of a 1.5% growth. At the same time, retail sales are still tumbling down, losing 7.5% in April.
In Europe the new report on German GDP in the first quarter confirmed a 2.2% contraction. This is the sharpest drop since 2009.
Corporate news are mostly positive, with some exceptions. Swiss Richemont lost 2.2% - the group warned that it would take about three years for the luxury sector to completely recover from the pandemic’s impact. British BT Group added 7%, following the Financial Times report on its negotiations about selling a stake in Openreach - its fully owned subsidiary. 
William Hill jumped more than 10%. The bookmaker reached an agreement with banks concerning its debt. French Imerys gained 14%. The company claimed that it successfully resolved its legal issues in America in regards to its talc unit.