London Stocks Climb on Key Data
European stocks ended higher ahead of the U.S. Federal Reserve's interest policy decision Tuesday afternoon. Swiss drug giant Novartis buoyed sentiment with positive comments about its drug for complications related to cancer, Zometa, which received U.S. marketing approval on Monday.
In London, the Financial Times-Stock Exchange 100 index gained 72.90 points, or 1.36%, to 5,430.30, following a report that business investment grew 0.8% in the second quarter after falling 5% in the first quarter. Germany's DAX index added 8.28 points, or 0.16%, to 5,216.11. And France's CAC 40 was up 43.44 points, or 0.91%, to 4,834.87.
Canada's benchmark TSE 300 index fell 52.2 points to 7473 after the U.S. interest-rate cut. The dramatic sell off in the U.S. indices was an added heavy weight. Eight of the 14 subindices fell and six rose.
Asian markets finished mixed. The Nikkei 225 gained 22.44 points, or 0.20%, to 11,280.38, as it rebounded from Monday's record low. Hong Kong's Hang Seng lost 18.35 points, or 0.16%, to close at 11,440.35.