AFP, London :
Europe’s stock markets rebounded Monday as investors bet that gloomy German economic data would help persuade the European Central Bank to continue its “accommodative” monetary policy, dealers said.
Frankfurt advanced 0.5 percent, while London and Paris each won 0.4 percent in early afternoon deals, despite news that German industrial orders in Germany fell back in August.
New contracts fell 0.6 percent compared with July, federal statistics authority Destatis said, disappointing analysts’ predictions of a 0.6-percent increase.
The bright performance at the start of the week followed strong gains in Wall Street action on Friday.
“We are in a… scenario where bad news is good news,” ThinkMarkets analyst Naeem Aslam told AFP.
“Any weakness in the economic number, which we experienced today, confirms that the European Central Bank is going to remain accommodative and this helps investors to favour riskier assets” like stocks.
Most markets also rose in Asia after a mixed US jobs report eased worries about a recession in the world’s top economy – and maintained expectations the Federal Reserve will press on with more interest rate cuts
Europe’s stock markets rebounded Monday as investors bet that gloomy German economic data would help persuade the European Central Bank to continue its “accommodative” monetary policy, dealers said.
Frankfurt advanced 0.5 percent, while London and Paris each won 0.4 percent in early afternoon deals, despite news that German industrial orders in Germany fell back in August.
New contracts fell 0.6 percent compared with July, federal statistics authority Destatis said, disappointing analysts’ predictions of a 0.6-percent increase.
The bright performance at the start of the week followed strong gains in Wall Street action on Friday.
“We are in a… scenario where bad news is good news,” ThinkMarkets analyst Naeem Aslam told AFP.
“Any weakness in the economic number, which we experienced today, confirms that the European Central Bank is going to remain accommodative and this helps investors to favour riskier assets” like stocks.
Most markets also rose in Asia after a mixed US jobs report eased worries about a recession in the world’s top economy – and maintained expectations the Federal Reserve will press on with more interest rate cuts
