A gain in Deutsche Bank AG and positive earnings reports helped push European stocks higher for a third day.
The Stoxx Europe 600 Index added 0.4 percent to 364.6 at 9:57 a.m. in London and climbed as much as 0.8 percent. Shares of the German lender rose 3.5 percent after it said it’s reshuffling management in an effort to to reshape the lender and rebuild relations with regulators. Danone and Metro AG advanced after earnings, while miners fell as data showed China’s economy expanded at the slowest pace since 2009.
“The commodity complex is a bit weak this morning but everything else is happy,” saidVeronika Pechlaner, an investment manager who helps oversee $10 billion at Ashburton Investments, part of FirstRand Group. She’s based in Jersey, the Channel Islands. “That brings us back to earnings. We need to see reassurance that next year’s numbers are OK for now. They should do better, and we hope to see more evidence of that.”
Danone gained 2.1 percent after the world’s biggest yogurt maker reported third-quarter sales that beat analysts’ estimates as Chinese consumers ordered more foreign-made infant formula. German retailer Metro rose 3.1 percent after reaffirming its earnings target for the year and saying it sees good Christmas results.
DBV Technologies SA – ADR (NASDAQ:DBVT) is engaged in the research, development, and marketing of products for the diagnosis and treatment of allergies, primarily food allergies in young children. DBV Technologies SA – ADR shares are trading 65.55% above their 52 week low price after the last close and -25.07% below the 52 week high. Its latest closing price was up 11.68% from the average-price of 200 days while it kept its distance from the SMA50 at -12.87% and -9.45% compared with the SMA 20.
Shares of Ericsson (ADR) (NASDAQ:ERIC) were 14.41% off 52 week lows as of the latest close and -18.52% below the 52 week high. Its latest closing price was up -5.67% from the average-price of 200 days while it maintained a distance from the SMA 50 at 6.33% and 6.51% compared with the SMA 20. Ericsson provides telecommunications equipment and related services to mobile and fixed network operators. It operates in four segments: Networks, Professional Services, Multimedia, and Phones.
Intelsat SA (NYSE:I) through its subsidiaries, provides satellite communications services worldwide. The stock’s latest price traded at 0.65% off 52 week lows after the closing bell and was -68.92% behind its 52 week high. Its latest closing price was -44.85% below the SMA200 while the distance from the SMA 50 and SMA 20 was -13.69% and -28.31% respectively.
Logitech International SA (USA) (NASDAQ:LOGI) is trading 35.05% higher than the 52 week low price and -9.41% below the 52 week high. The stock’s latest closing price was 3.97% above from the average-price of 200 days while it kept its distance from the SMA50 at 8.10% and 6.35% compared with the SMA 20. Logitech International SA (USA) engages in design, manufacture, and marketing of personal peripherals for personal computers and other digital platforms in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.
HSBC Holdings plc (ADR) (NYSE:HSBC) provides banking and financial products and services. It operates through four businesses Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. HSBC Holdings plc so far this year has moved up -10.66% and its monthly performance stands at 3.46%. The stock was down 9.76% from its 52 week low and was -17.92% below the 52 week high. Its latest closing price was up -7.26% from the average-price of 200 days while it kept its distance from the SMA50 at 0.71% and 3.70% compared with the SMA 20.