Back
21 Dec 2015
European stocks rally, ignore drop in oil
FXStreet (Mumbai) - The stock markets across Europe rallied on Monday as investors turned a blind eye towards the drop in Brent price to the lowest level since 2004.
The pan-European Stoxx 600 was 0.7% higher in morning trade, despite opening lower. Majority sectors were in the positive territory.Among the regional indices, Germany’s DAX was up 0.9% at the time of writing. France’s CAC was up 0.48%, while London’s FTSE was up 0.80%.
Shares in Glencore advanced more than 7% as the Citigroup raised its price target for the stock. Anglo American was also up over 5%. Spanish equities have taken a beating after an inconclusive election result triggered a fresh uncertainty over the outlook for the country's reform programme and the broader economy.
The pan-European Stoxx 600 was 0.7% higher in morning trade, despite opening lower. Majority sectors were in the positive territory.Among the regional indices, Germany’s DAX was up 0.9% at the time of writing. France’s CAC was up 0.48%, while London’s FTSE was up 0.80%.
Shares in Glencore advanced more than 7% as the Citigroup raised its price target for the stock. Anglo American was also up over 5%. Spanish equities have taken a beating after an inconclusive election result triggered a fresh uncertainty over the outlook for the country's reform programme and the broader economy.