Europe Stocks Soar on Cisco Comments
Europe stocks moved higher on Cisco's comments. The networking company's optimism lifted technology and telecom shares in Europe. In London, the Financial Times-Stock Exchange 100 index finished higher by 75.40 points, or 1.40%, to 5,471.90. Some short covering before a long holiday weekend in Britain is also giving stocks there a boost.
Germany's DAX index soared 133.46 points, or 2.54%, to 5,387.50, amid a report that June industrial production was revised to a gain of 0.1%, from a decrease of 0.4% originally. Also, factory orders were revised an increase of 2.7%, from a 2.5% decline.
Meanwhile, France's CAC 40 closed up 107.06 points, or 2.23%, to 4,916.56, following a report that July consumer prices fell 0.2%.
Canada's benchmark TSE 300 enjoyed a decent rally, closing up 87.6 points to 7630. Gains in U.S. stocks helped, and good news out of Cisco allowed tech stocks on both sides of the border to bounce. Industrials lead 10 of the 14 subindices higher.
Asia markets ended mixed. The Nikkei 225 gained 39.39 points, or 0.35%, to 11,166.31, on strength in technology and telecommunications stocks. Hong Kong's Hang Seng lost 235.08 points, or 2.07%, to close at 11,110.30.