European
stocks advanced for a second day, as retailers climbed and data showed
U.K. inflation fell to the lowest level in 15 years.
The
Stoxx Europe 600 Index added 1.4 percent to 344.77 at the close of
trading. The equity gauge extended gains after a report showed Britain™s
consumer-price growth slowed to 0.5 percent in December, below
estimates, amid a plunge in oil prices. The U.K.™s FTSE 100 Index
climbed 0.6 percent. With crude below $45 a barrel, speculation is
rising that the European Central Bank will need to step up stimulus
measures to avert deflation.
Retailers
rose the most of the 19 industry groups in the Stoxx 600. William
Morrison Supermarkets Plc jumped 4.5 percent after saying it will start a
search for a new chief executive officer to replace Dalton Philips, who
will step down at the end of the year. It also reported sales at stores
open at least a year fell 3.1 percent, excluding fuel, in the six weeks
ended Jan. 4. That beat the median estimate of analysts for a 4 percent
drop.
Tesco Plc advanced 3.6 percent, J Sainsbury Plc rose 3.6 percent and Ocado Group Plc increased 2.5 percent.
Metro
AG gained 4.5 percent. The operator of Germany™s Kaufhof department
stores reported an increase in first-quarter adjusted revenue as all
divisions had better same-store sales in December.
Source: Bloomberg
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