{"id":107636,"date":"2021-01-07T10:45:16","date_gmt":"2021-01-07T10:45:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107636"},"modified":"2021-01-07T10:45:16","modified_gmt":"2021-01-07T10:45:16","slug":"st-gobain-commodity-rally-drive-european-stocks-higher","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/st-gobain-commodity-rally-drive-european-stocks-higher\/","title":{"rendered":"St Gobain, commodity rally drive European stocks higher"},"content":{"rendered":"

(Reuters) -European stocks climbed for a second straight session on Thursday, as construction stocks gained on upbeat sales forecast from Saint Gobain and commodity-linked shares rose on hopes of larger U.S. stimulus after Democrats won Senate control.<\/p>

FILE PHOTO: Bull and bear symbols in front of the German stock exchange in Frankfurt, Germany, February 12, 2019. REUTERS\/Kai Pfaffenbach<\/figcaption>

The pan-European STOXX 600 index advanced 0.2% to hold near February 2020 highs, while London\u2019s blue-chip FTSE 100 gained 0.4% and Germany\u2019s DAX index was up 0.5%.<\/p>\n

Construction & material stocks were the top gainers, led by a 5.9% surge in France\u2019s Saint Gobain after it said fourth-quarter results would significantly exceed expectations.<\/p>\n

Meanwhile, economically sensitive sectors such as mining , energy and industrials extended their rally on the prospects of more U.S. stimulus after Democrats won control of the Senate.<\/p>\n

Gains in Swedish industrial companies Atlas Copco, Sandvik and Volvo drove Stockholm stocks to all-time highs.<\/p>\n

\u201cWe highlight that Basic Resources, Construction & Materials have underperformed since the beginning of December and, given their sensitivity to fiscal policy in general through infrastructure investment, they have catch up potential,\u201d Unicredit analysts said in a note.<\/p>\n

European wind turbine makers Vestas, Orsted and Siemens Gamesa all extended gains from the previous session.<\/p>\n

Renewable stocks are widely considered as winners of a Joe Biden administration, given the U.S. president-elect\u2019s proposed $2 trillion climate plan.<\/p>\n

Sentiment was also boosted by European approval for a second COVID-19 vaccine developed by Moderna Inc.<\/p>\n

Meanwhile, demand for German-made goods defied expectations, rising 2.3% in November, the latest in a string of data points showing the Europe\u2019s largest economy being unexpectedly resilient in the face of the pandemic.<\/p>\n

Among other movers, LafargeHolcim rose 1.4% after the world\u2019s biggest cement maker said it would buy Firestone Building Products from Bridgestone Americas in a deal worth $3.4 billon.<\/p>\n

Delivery Hero slipped 1.4% after the German food delivery firm said it raised around 1.2 billion euros ($1.48 billion) by issuing new shares to fund growth.<\/p>\n

Mitchells & Butlers tumbled 7.6% after the British pub operator said it was exploring an equity capital raise as a new national lockdown shut its sites across England.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -European stocks climbed for a second<\/p>\n","protected":false},"author":3,"featured_media":107635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nSt Gobain, commodity rally drive European stocks higher - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/st-gobain-commodity-rally-drive-european-stocks-higher\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"St Gobain, commodity rally drive European stocks higher - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) -European stocks climbed for a second\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/st-gobain-commodity-rally-drive-european-stocks-higher\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-07T10:45:16+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/cnewsfotor24-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/st-gobain-commodity-rally-drive-european-stocks-higher\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/st-gobain-commodity-rally-drive-european-stocks-higher\/\",\"name\":\"St Gobain, commodity rally drive European stocks higher - 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