European Markets Positive On Improved Sentiments

(RTTNews) - European stock markets are higher on Monday ahead of the crucial inflation data from the U.S. and improved global market sentiments. Asian market finished higher on the day. The U.K.'s FTSE 100 Index is gaining 1.41 percent to 7,454.64, France's CAC 40 index is up 1.45 percent to 6,302.34, and German DAX is progressing 235.27 points or 1.8 percent to 13,323.48. The pan European Stoxx 600 is climbing 1.26 percent from Friday's close to trade at 425.67.

On Friday, European markets had finished with strong gains, led by the rally of pan-European Stoxx 600 up 1.52 percent. Germany's DAX had added 1.43 percent whereas France's CAC 40 had gained 1.41 percent. U.K.'s FTSE 100 had strengthened 1.23 percent.

Wall Street had also closed higher on Friday.

Among the economic data releases, the Office for National Statistics revealed that the U.K. economy expanded in July, underpinned by the rebound in the services, particularly consumer-facing services. Gross domestic product grew 0.2 percent on a monthly basis in July, in contrast to a fall of 0.6 percent in June. Further, figures published by the statistical office CBS showed that Dutch exports increased at a softer pace in July. Among corporates, Swiss Re AG shares gained 1.5 percent after the reinsurance company said that it expects a rise in demand for insurance products and services. Hannover Re gained 2 percent after the German re-insurer said it expects further price increases next year, noting that large loss trend, pandemic and rising inflation require further improvements in prices and conditions. Shares of Deutsche Lufthansa AG, flag carrier of Germany, increased 1.7 percent. The company agreed with the German pilots' union Vereinigung Cockpit on a pay hike for pilots at Lufthansa and Lufthansa Cargo. In the U.K., shares of Kingfisher Plc gained 5 percent, and the growth was more than 4 percent at Sainsbury (J) Plc, JD Sports Fashion Plc, Howden Joinery Group Plc, and Tesco Plc. Further, Anglo American Plc gained and Smurfit Kappa Group Plc each gained 3.8 percent, and the growth was 3.7 percent for Associated British Foods Plc.