European stocks rose this week as companies including BNP Paribas SA and European Aeronautic, Defence & Space Co (EADS) reported earnings that beat analysts’ estimates and investors speculated mergers and acquisitions are picking up.
BNP Paribas had its biggest weekly gain in a month as profit at France’s largest bank declined less than projected. EADS rallied after posting record production rates at its Airbus SAS unit. BT Group Plc also climbed on earnings. BHP Billiton Ltd led an advance in basic-resources shares on speculation China may buy a stake in the world’s largest mining company.
Europe’s Dow Jones STOXX 600 Index added 1.5 percent to 329.86, the highest since Feb. 26 and trimming the decline this year to 9.5 percent. Concern that record oil prices, inflation and US$342 billion in credit losses will cut economic and profit growth has weighed on stocks.
“The earnings reports this week were important and one of the driving forces, as were commodities,” said Carsten Klude, head of investment strategy at M.M. Warburg & Co in Hamburg, adding that acquisitions were also buoying the market. “This topic seemed dead for some time but is now back on the agenda.”
Germany’s DAX Index added 2.2 percent. France’s CAC 40 gained 2.4 percent. The UK’s FTSE 100 advanced 1.6 percent. The STOXX 50 also rallied 1.6 percent, as did the Euro STOXX 50, a measure for the euro region.
European economic growth accelerated more in the first quarter than economists estimated. Gross domestic product in the 15 euro countries increased 0.7 percent from the fourth quarter, the European Union’s statistics office said on Thursday. Germany’s 1.5 percent expansion was more than double what economists estimated.
TRAGEDY STRIKES TAIPEI: The suspect died after falling off a building after he threw smoke grenades into Taipei Main Station and went on a killing spree in Zhongshan A 27-year-old suspect allegedly threw smoke grenades in Taipei Main Station and then proceeded to Zhongshan MRT Station in a random killing spree that resulted in the death of the suspect and two other civilians, and seven injured, including one in critical condition, as of press time last night. The suspect, identified as a man surnamed Chang Wen (張文), allegedly began the attack at Taipei Main Station, the Taipei Fire Department said, adding that it received a report at 5:24pm that smoke grenades had been thrown in the station. One man in his 50s was rushed to hospital after a cardiac arrest
SAFETY FIRST: Double the number of police were deployed at the Taipei Marathon, while other cities released plans to bolster public event safety Authorities across Taiwan have stepped up security measures ahead of Christmas and New Year events, following a knife and smoke bomb attack in Taipei on Friday that left four people dead and 11 injured. In a bid to prevent potential copycat incidents, police deployments have been expanded for large gatherings, transport hubs, and other crowded public spaces, according to official statements from police and city authorities. Taipei Mayor Chiang Wan-an (蔣萬安) said the city has “comprehensively raised security readiness” in crowded areas, increased police deployments with armed officers, and intensified patrols during weekends and nighttime hours. For large-scale events, security checkpoints and explosives
A car bomb killed a senior Russian general in southern Moscow yesterday morning, the latest high-profile army figure to be blown up in a blast that came just hours after Russian and Ukrainian delegates held separate talks in Miami on a plan to end the war. Kyiv has not commented on the incident, but Russian investigators said they were probing whether the blast was “linked” to “Ukrainian special forces.” The attack was similar to other assassinations of generals and pro-war figures that have either been claimed, or are widely believed to have been orchestrated, by Ukraine. Russian Lieutenant General Fanil Sarvarov, 56, head
PUBLIC SAFETY: The premier said that security would be tightened in transport hubs, while President Lai commended the public for their bravery The government is to deploy more police, including rapid response units, in crowded public areas to ensure a swift response to any threats, President William Lai (賴清德) said yesterday after a knife attack killed three people and injured 11 in Taipei the previous day. Lai made the remarks following a briefing by the National Police Agency on the progress of the investigation, saying that the attack underscored the importance of cooperation in public security between the central and local governments. The attack unfolded in the early evening on Friday around Taipei Main Station’s M7 exit and later near the Taipei MRT’s Zhongshan
RSS