Tuesday 17 January 2017

European shares hit 6-week high on Greece, Alfa Laval surges

Published 16/07/2015 | 08:17

Traders talk in front of the German share price index DAX board at the stock exchange in Frankfurt, Germany
Traders talk in front of the German share price index DAX board at the stock exchange in Frankfurt, Germany

European shares climbed to a six-week high on Thursday after the Greek parliament passed sweeping austerity measures demanded by its lenders to open talks on a new multibillion-euro bailout package to keep Greece in the euro.

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Swedish engineering group Alfa Laval rose 10 percent after posting a bigger than expected rise in second quarter core earnings.

Swiss watchmaker Swatch Group rose 4.8 percent after saying it was upbeat in its full-year outlook. Its first-half net profit, however, fell nearly 20 percent on a strong franc and negative interest rates.

The STOXX Europe 600 Automobile and Parts index was up 1.4 percent, the top sectoral gainer, as demand for mid-market brands and luxury autos pushed growth of new car sales in Europe to the highest monthly rate in five and a half years in June.

The pan-European FTSEurofirst 300 index was up 0.6 percent at 1,595.01 points by 0710 GMT after touching to 1,595.66, the highest level in more than six weeks.

Reuters

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