European Stocks Gain With Focus on Trump-Putin Meeting, US Data
European stocks rose for a fourth straight day as investors looked ahead to a meeting between President Donald Trump and his Russian counterpart, as well as key US economic data.
The Stoxx Europe 600 Index advanced 0.3% by 8:15 a.m. in London, ahead of US retail sales data that will provide the latest clues on the health of the economy.
Mining and chemical sectors outperformed, while consumer products was the biggest laggard. Technology also underperformed as a weak report by America’s Applied Materials Inc. weighed on chip equipment stocks including ASML Holding NV.
Danish jeweler Pandora A/S sank 12% after its revenue missed the average analyst estimate. Orsted A/S was subdued as it was downgraded to the lowest tier of investment grade by S&P Global Ratings on increasing risks to its US offshore wind business.
Europe’s stock benchmark has gained this month as optimism around Federal Reserve rate cuts overshadowed concerns about an economic slowdown. The Stoxx 600 is now less than 2% below its March record high. Still, a Bloomberg survey of strategists showed they expect only small gains into the year end. The benchmark is expected to end 2025 at 556 points, according to the average of 17 strategists, relatively unchanged from current levels.
Focus Friday is also on the meeting between Vladimir Putin and Trump in Alaska. The Russian leader sought to strengthen his rapport with Trump ahead of their summit, praising the US leader’s efforts to broker an end to the war in Ukraine.
Source : Bloomberg
