News Column

European Stocks Edge Higher On Positive Economic Data

April 24, 2014

BRUSSELS (Alliance News) - The European markets rose broadly on Thursday after US tech giants Apple Inc. and Facebook Inc. posted strong quarterly earnings and data showed German business confidence improved unexpectedly in April, underlining optimism over the health of the euro zone's largest economy.

The IFO institute's business climate index, based on a survey of 7,000 executives, rose to 111.2 from 110.7 in March. Consensus expectations were for a reading of 110.4.

The Euro Stoxx 50 index of eurozone bluechip stocks was up 0.44%.

In stock-specific action, Dialog Semiconductor PLC was up 2.9% in Frankfurt after its customer Apple Inc., posted better-than-expected financial results for the second quarter and surprised investors by declaring a seven-for-one stock split and another USD30 billion in share buybacks till the end of 2015.

Alstom SA soared in Paris on a Bloomberg report that General Electric Co. is in discussions to purchase the French industrial company for more than USD13 billion.

Air Liquide gained after the industrial gas supplier reported a 1% increase in first-quarter sales and said it expects continued net profit growth this year.

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Source: Alliance News