European stocks rose for a second week, with the Dow Jones STOXX 600 Index capping its longest stretch of monthly gains since May 2007, as investors speculated the worst of the global recession is over.
Anglo American PLC and Total SA led commodity producers higher after base metals and crude oil increased.
Tesco PLC paced an advance among retailers as investors sought shares of companies whose profits are more closely tied to economic growth.
.jpg)
United Internet AG rallied 27 percent after agreeing to buy Freenet AG’s digital subscriber-line business.
The Dow Jones STOXX 600 Index rose 0.6 percent this week to 208.21.
The measure added 4 percent this month, gaining for a third straight month and bringing the rally since March 9 to 32 percent amid optimism the US$12.8 trillion pledged by the US government and the Federal Reserve will help to end the first global recession since World War II.
“People are on the lookout for bright spots and every time one appears it serves as a relief,” said Peter Braendle, who oversees about US$50 billion at Swisscanto Asset Management in Zurich.
“The economic data is no longer as alarming as it used to be. If we see an economic upturn, raw-material producers will continue to be in demand,” he said.
National benchmark indexes rose in 11 of the 18 western European markets. The UK’s FTSE 100 climbed 1.2 percent, led by a rally in mining shares.
France’s CAC 40 added 1.5 percent and Germany’s DAX advanced 0.5 percent.
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
Two US House of Representatives committees yesterday condemned China’s attempt to orchestrate a crash involving Vice President Hsiao Bi-khim’s (蕭美琴) car when she visited the Czech Republic last year as vice president-elect. Czech local media in March last year reported that a Chinese diplomat had run a red light while following Hsiao’s car from the airport, and Czech intelligence last week told local media that Chinese diplomats and agents had also planned to stage a demonstrative car collision. Hsiao on Saturday shared a Reuters news report on the incident through her account on social media platform X and wrote: “I
SHIFT PRIORITIES: The US should first help Taiwan respond to actions China is already taking, instead of focusing too heavily on deterring a large-scale invasion, an expert said US Air Force leaders on Thursday voiced concerns about the Chinese People’s Liberation Army’s (PLA) missile capabilities and its development of a “kill web,” and said that the US Department of Defense’s budget request for next year prioritizes bolstering defenses in the Indo-Pacific region due to the increasing threat posed by China. US experts said that a full-scale Chinese invasion of Taiwan is risky and unlikely, with Beijing more likely to pursue coercive tactics such as political warfare or blockades to achieve its goals. Senior air force and US Space Force leaders, including US Secretary of the Air Force Troy Meink and
Czech officials have confirmed that Chinese agents surveilled Vice President Hsiao Bi-khim (蕭美琴) during her visit to Prague in March 2024 and planned a collision with her car as part of an “unprecedented” provocation by Beijing in Europe. Czech Military Intelligence learned that their Chinese counterparts attempted to create conditions to carry out a demonstrative incident involving Hsiao, which “did not go beyond the preparation stage,” agency director Petr Bartovsky told Czech Radio in a report yesterday. In addition, a Chinese diplomat ran a red light to maintain surveillance of the Taiwanese
RSS