European stocks set for strong week, Germany's DAX hits record high

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MG News | January 08, 2021 at 01:32 PM GMT+05:00

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January 8, 2021: European stocks rose on Friday, with Germany's DAX hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers.

The pan-European STOXX 600 index rose 0.7% by 0810 GMT and was on track for a more than 3% weekly gain, with hopes of more U.S. stimulus boosting economically sensitive sectors such as miners, oil & gas, and banks.

Germany's DAX index jumped 0.8% after data showed both industrial output and exports rose more than expected in November.

Meanwhile, chipmakers Infineon, AMS, and ASM International gained between 2.2% and 4.7% after global peers Micron Technology Inc and Samsung Electronics Co Ltd provided strong earnings reports.

Franco-Italian chipmaker STMicroelectronics rose 4% after its early revenue estimate for the fourth-quarter came in above the previous range.

Reuters

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Name Price/Vol %Chg/NChg
KSE100 142,052.65
349.23M 		0.72%
1017.66
ALLSHR 87,831.80
663.70M 		0.59%
513.56
KSE30 43,706.74
142.64M 		0.86%
372.19
KMI30 202,816.56
145.14M 		0.85%
1699.58
KMIALLSHR 58,841.39
392.55M 		0.83%
484.17
BKTi 38,582.86
18.45M 		0.83%
317.70
OGTi 30,003.36
34.60M 		0.22%
64.94
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,565.00 115,980.00
114,300.00 		1995.00
1.76%
BRENT CRUDE 69.03 69.98
68.00 		-0.64
-0.92%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00 		2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50 		-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50 		0.00
0.00%
CRUDE OIL - WTI 66.62 67.74
65.46 		-0.71
-1.05%
SUGAR #11 WORLD 16.30 16.47
16.17 		0.12
0.74%
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