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

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	172,399.90 320.00M	1.59% 2696.30
ALLSHR	103,927.90 888.16M	1.29% 1323.37
KSE30	51,428.16 185.27M	1.65% 836.84
KMI30	246,743.08 136.63M	1.75% 4243.24
KMIALLSHR	67,499.94 461.75M	1.34% 890.73
BKTi	46,974.29 67.03M	1.67% 773.64
OGTi	35,183.53 7.71M	0.85% 295.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,750.00	64,800.00 63,430.00	90.00 0.14%
BRENT CRUDE	86.80	89.90 85.80	-3.58 -3.96%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	1.10 0.90%
ROTTERDAM COAL MONTHLY	131.00	131.00 130.00	-1.75 -1.32%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	84.29	0.00 0.00	-0.59 -0.70%
SUGAR #11 WORLD	13.70	13.97 13.68	-0.09 -0.65%