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European stocks notch all-time highs on earnings, Xi-Biden boost -Breaking

by Mike Robinson

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© Reuters. The German share price graph DAX can be seen at Frankfurt’s stock exchange on November 15, 2021. REUTERS/Staff

(Reuters) – A few European indexes have reached new highs thanks to strong earnings and signs of easing tensions between the U.S. and China.

By 0829 GMT the pan-European had risen 0.1%, continuing a streak of records gains. The key meeting between U.S. president Joe Biden with Chinese leader Xi Jinping signalled a stabilization of their fraught relations. [MKTS/GLOB]

The blue-chip and eurozone shares indexes (including 40) also reached new heights.

Miners stocks which are heavily exposed to China rose 0.5% in the early trade, and telecom stocks saw a 4.6% rise after reporting quarter results.

Prosus, a Dutch investor in tech (OTC::NV) rose 1.6% following higher profits for the first half 2022. It had earned $12.3 billion through the sale of a portion of Tencent’s stake.

Christine Lagarde (ECB President) reiterated on Monday that she opposes market bets to tighten monetary policy.

Now, investors are focusing their attention on data from the euro area, which includes GDP figures for the region and Lagarde’s speech due late in today.

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