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Category News & Press
European Stocks Rise On Strong Says Daito Nippon Brokerage; EURO STOXX 50 Up 2%

European stocks rose for a fifth straight session Tuesday reported Daito Nippon Brokerage research and analysis department as bulls waded ‎back into the market, hunting for bargains amid signs of stability after one of ‎the worst weeks for major benchmarks in several months.‎

During European late trade, the EURO STOXX 50 closed up 1.3 per cent, ‎France’s CAC 40 gained 5.28 per cent, while Germany’s DAX 30 added ‎‎1.87 per cent. The German index also notched a six-day winning streak, its ‎longest since March 2013, with tech firms leading advancers.‎

“Last week, despite a drop late in Thursday and Friday sessions, all the ‎major indexes enjoyed weekly gains of at least 2 per cent, the biggest since ‎January. The CAC 40 and DAX 30 ‎entered bull territory for the year — ‎defined as an advance of at least 20 per cent or more from recent lows.‎” commented Max Harrington who heads up the Corporate Trading department at Daito Nippon Brokerage.

Carrefour (PA:CARR) shares soared more than 4 per cent in the session to ‎an all-time high. Europe’s largest retailer reported a better than expected ‎rebound in the second quarter sales due to positive figures in Asia.‎

Separately, Daito Nippon Brokerage analysts said that European stocks were boosted this week by heightened ‎expectations that the ECB will enlarge its stimulus program in the fourth ‎quarter, aimed at boosting economic recovery.‎