European stocks advanced, extending five weeks of gains, amid takeovers by health-care companies and better-than-forecast industrial output in China.
In China, industrial production jumped 10.3 percent in October from a year earlier, the National Bureau of Statistics said Nov. 9. That was higher than September’s 10.2 percent and exceeded the 10 percent median projection of economists surveyed by Bloomberg. Inflation was a less-than-forecast 3.2 percent and producer prices fell 1.5 percent.
President Xi Jinping and top Communist Party leaders have gathered in Beijing for a meeting known as the third plenum to outline a blueprint to sustain growth and drive urbanization in the world’s second-biggest economy. The meeting of about 370 officials will conclude tomorrow.
National benchmark indexes climbed in all of the western European markets, except Iceland and Greece. The U.K.’s FTSE 100 Index and Germany’s DAX added 0.3 percent, while France’s CAC 40 advanced 0.7 percent.
Grifols, Europe’s largest blood-plasma products maker, advanced 4.5 percent to 32.36 euros. Novartis said will sell its blood-transfusion diagnostics unit to the Spanish company for $1.68 billion, completing the deal in the first half of 2014.
Shire rose 0.9 percent to 2,822 pence after the Dublin-based drugmaker agreed to buy ViroPharma for about $4.2 billion. Shire will pay $50 a share in cash, 27 percent more than the closing price of ViroPharma on Nov. 8.
Lonmin rallied 3.9 percent to 340.9 pence after posting full-year profit of 31 cents a share, compared with a loss of 202 cents a share in the previous year. That exceeded the 13 cent-median forecast of analysts surveyed by Bloomberg.
RSA Insurance Group Plc tumbled 11 percent to 108.1 pence for the largest drop in eight months. The U.K.’s biggest non-life insurer by market value said it suspended three top executives at its Irish unit amid a probe into finance and claims functions. The full-year operating result will be 70 million pounds lower than analysts estimate after it had to inject capital into the division.
U.S. stocks were little changed as investors awaited earnings reports this week from retailers to gauge the strength of consumer demand.
Global Stock:
Nikkei 14,269.84 +183.04 +1.30%
Hang Seng 23,069.85 +183.04 +1.43%
Shanghai Composite 2,109.47 +3.34 +0.16%
FTSE 6,727.29 +18.87 +0.20%
CAC 4,280.66 +20.22 +0.47%
DAX 9,096.68 +18.87 +0.28%
Crude oil $94.27 -0.35%
Gold $1282.90 -0.13%
European stocks rose , which was associated with the publication of better-than -expected financial reports , as well as upbeat data from China. Asian stocks rose , while the U.S. index futures are little changed .
It should be noted that the National Bureau of Statistics of China announced on Saturday that China's industrial production grew by 10.3 % y / y in October , which is slightly faster than the increase of 10.2 % in September. Manufacturing grew by 9.7 % in the first ten months of the year .
Retail sales growth was unchanged 13.3 % in October. In January -October sales were up 13 percent compared with the same period last year.
Investment in fixed assets grew by 20.1 % y / y in October to 20.2 % in September.
Trade data for China were stronger than expected, thanks to the recovery in exports in October. The country's exports grew by 5.6 % y / y in October, while imports rose by 7.6 %.
Consumer prices rose by 3.2 % y / y in October , faster than the 3.1% in September. Producer prices fell 1.5 % y / y , after falling 1.3 % the previous month .
Stoxx Europe 600 Index rose 0.1 percent.
Lonmin shares rose 6.5 percent after a report that showed that the annual income of 31 cents per share, compared with a loss of 202 cents per share in the previous year. Experts forecast a profit of 13 cents.
Cost of Deutsche Telekom AG fell 2 percent as Goldman Sachs Group lowered its recommendation on the stock to ' sell' from 'neutral' .
Shares of RSA Insurance Group Plc fell 11 percent , registering the largest drop in the last eight months , and a sharp decline in the Stoxx 600 .
At the moment :
FTSE 100 6,727.67 +19.25 +0.29 %
CAC 40 4,272.07 +11.63 +0.27 %
DAX 9,094.6 +16.32 +0.18%
Asian stocks outside Japan fell as investors await the conclusion tomorrow of a meeting of China’s leaders on economic reform. Japanese equities rose after better-than-expected U.S. payrolls data weakened the yen.
Nikkei 225 14,269.84 +183.04 +1.30%
S&P/ASX 200 5,387.14 -13.52 -0.25%
Shanghai Composite 2,109.47 +3.34 +0.16%
Robinsons Retail Holdings Inc., an operator of supermarkets and department stores controlled by billionaire John Gokongwei, slumped 5.4 percent on its trading debut following the largest Philippine initial public offering.
Nexon Co., a maker of online games, plunged 22 percent in Tokyo after its net-income forecast missed estimates.
Honda Motor Co., a Japanese carmaker that gets 47 percent of its revenue in North America, added 1.7 percent.
European stock indices are trading higher at the start as Asian indices closed mainly positive. Corporate earnings reports and ECB's announcement to soon begin the purchase of asset-backed securities were also supportive.
FTSE 100 index is up 0.17% trading at 6622.70 points, Germany's DAX 30 gained 0.40% currently trading at 9,389.08 points and France's CAC 40 is up 0.48% trading at 4,243.19 points.