[BENGALURU] Stocks in Europe climbed for a fourth straight session on Wednesday, propped up by positive sentiment about a potential US-China trade deal, hopes of a smoother Brexit and strong economic data in China and the Eurozone.
Positive sentiment was supplemented by data showing retail sales in the Euro zone were stronger than expected in February, while activity in China's services sector hit a 14-month high in March."Clearly the market is in a more positive mood," said Elwin de Groot, head of macro strategy at Rabobank."At least for the coming months, we are going to see a pickup in growth certainly in the Euro area.
The positive sentiment crossed the Irish Sea, with Dublin-traded stocks rising 1.8 per cent to their highest closing level in nearly half a year. Ireland is especially exposed to the fall-out from a hard Brexit. Construction and materials stocks also basked in the glow of a potentially softer Brexit, tacking on 1.8 per cent.
Healthcare stocks limited the broader benchmark's gains as they dropped 0.4 per cent. Danish bioscience firm Chr Hansen Holding A/S fell 6.8 per cent to lead losses on the sector index after its second quarter results failed to impress investors.
Source: News Formal (newsformal.com)
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