European stocks rally on U.S. shutdown deal, DAX hits record
Reuters
Published Jan 23, 2018 08:48
European stocks rally on U.S. shutdown deal, DAX hits record
LONDON (Reuters) - European shares rose to new highs on Tuesday after U.S. senators struck a deal to end a three-day government shutdown.
Euro zone stocks (STOXXE) reached their highest in a decade. Germany's DAX (GDAXI) jumped more than 0.9 percent at the open and touched a record 13,596 points.
"As the next goal, the bulls have the hurdle of 14,000 points in mind," said market analyst Milan Cutkovic at trading house AxiTrader. "With the current mood on the stock markets, this is a realistic scenario for the coming weeks."
After a previous session fuelled by M&A news, corporate updates maintained the buoyant mood.
Easyjet (L:EZJ) led the STOXX 600 (STOXX), itself on a 2-year and half high, with a 6.4 percent jump after reporting first-quarter results.
"A strong performance for new boss Johan Lundgren in his first quarter as easyJet benefited from a combination of Ryanair cancellations and the demise of a trio of peers removing some capacity from the market", senior ETX market analyst Neil Wilson commented.
Investors cheered giant French retailer Carrefour's (PA:CARR) new plans to boost sales. The shares jumped 4.8 percent.
Shares in computer peripherals and mobile speaker maker Logitech (S:LOGN) jumped close to 5 pct after it reported better than expected sales and raised its guidance.
Online grocery technology provider Ocado (L:OCDO) lost 5.1 percent after a 27 percent surge on Monday when it unveiled a deal with Canada's second-largest food supermarket group Sobeys.
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Written By: Reuters
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