Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

European shares jump on China trade data, coronavirus hopes

Published 14/04/2020, 08:19
Updated 14/04/2020, 08:20
© Reuters. FILE PHOTO:  The German share price index DAX graph is pictured at the stock exchange in Frankfurt

© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European shares rose on Tuesday after a strong rally last week, as better-than-expected trade data from China added to relief from early signs that sweeping lockdown measures to contain the coronavirus pandemic were working.

The pan-European STOXX 600 index (STOXX) was up 1.1% at 0703 GMT, after a strong finish last week that was powered by another aggressive round of stimulus and tentative signs of the virus peaking in some hot spots.

The focus this week will turn to U.S. corporate earnings, with investors bracing for a rough season as the health crisis crushed business activity and sparked mass furloughs.

In Europe, first-quarter earnings for STOXX 600 firms are expected to decline 15.7%, according to IBES data from Refinitiv.

Lifting sentiment on Tuesday, data showed a decline in China's exports and imports slowed in March after plunging in the previous two months, but analysts warned a sure-footed recovery was months away.

Spanish shares (IBEX) gained 1.5% as some businesses re-opened, although shops, bars and public spaces were set to stay closed until at least April 26.

© Reuters. FILE PHOTO:  The German share price index DAX graph is pictured at the stock exchange in Frankfurt

Swedish rare disease drugmaker Sobi (ST:SOBIV) jumped 7.6% to the top of the STOXX 600 after reporting stronger-than-expected first-quarter earnings as the pandemic spurred higher demand for some of its pharmaceuticals.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.