European shares hit five-week high after China data, Metro up

lunes 19 de octubre de 2015 04:32 GYT
 

* Pan-European FTSEurofirst 300 up 0.4 pct

* Metro shares gain on positive outlook

* Wincor Nixdorf surges on M&A news

By Atul Prakash

LONDON, Oct 19 (Reuters) - European shares hit a five-week high on Monday, helped by positive news on names like Metro and Deutsche Bank and as better-than-predicted Chinese growth data and hopes of more stimulus there improved sentiment.

The pan-European FTSEurofirst 300 index rose 0.4 percent to 1,441.19 points by 0812 GMT after rising to 1,446.91 points, the highest level since early September.

European stock index futures earlier indicated a slightly lower open for the market after data showed China's economic growth dipped below 7 percent for the first time since the global financial crisis, hurt partly by cooling investment.

But analysts said that investors were looking at the positive side, with the growth numbers coming slightly better than forecasts and pressure on Beijing to further cut interest rates and take other measures to stoke activity.

"Figures out of China are mixed. However, at this point in time, news that is not exceptionally bad or deteriorating is probably perceived as good," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said. "Markets are in a more optimistic mood as more stimulus out of China is expected."   Continuación...