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Oct. 15, 2015, 12:23 p.m. EDT

European stocks rally to break 3-day losing streak

Fall for Burberry highlights China concerns

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By Carla Mozee and Sara Sjolin, MarketWatch


Bloomberg News/Landov

European equities closed higher Thursday as more disappointing data from the U.S. were seen as strengthening the case for the Federal Reserve to keep interest rates at a record low into 2016.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +0.34% rose 1.5% to close at 360.99, ending a three-day losing streak that saw the benchmark shave off 1.9%.

Stocks have been hit in recent days on disappointing trade and inflation figures from China. But on Thursday, stocks in both Europe and the U.S. moved firmly higher after weak U.S. inflation data and disappointing manufacturing data lent support to views that the Fed won’t raise interest rates in 2015.

In Germany, the DAX 30 index /zigman2/quotes/210597999/delayed DX:DAX -0.21%  tacked on 1.5% to finish at 10,064.80, aided slightly in part by dip in the euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.2778%  to $1.1404. On the index, Volkswagen AG /zigman2/quotes/204309985/delayed DE:VOW3 -0.72%   dropped 3.6% as Germany ordered a mandatory recall of Volkswagen diesel models installed with software that cheat emission tests.

In Paris, the CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.94%  picked up 1.4% to close at 4,675.29, while the U.K.’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.04% ended 1.1% higher at 6,338.67. The British benchmark was weighed, however, by Burberry Group PLC /zigman2/quotes/205386705/delayed UK:BRBY +0.40%   /zigman2/quotes/203108786/delayed BURBY -0.76%  slumping 8.3% after posting first-half sales that were little changed from a year earlier.

An “increasingly challenging environment for luxury, particularly Chinese customers,” hurt second-quarter retail-revenue growth the British fashion heavyweight said in its release.

Movers : Unilever PLC /zigman2/quotes/205449809/delayed UK:ULVR +1.68% /zigman2/quotes/204685760/composite UL +0.50%  shares rose 3.6%, after the consumer-products heavyweight said a jump in third-quarter revenue was driven by strong demand for ice cream. Magnum ice cream is one of Unilever’s brands.

WH Smith PLC /zigman2/quotes/201823422/delayed UK:SMWH +0.90%  rose 4.7% after the book and stationery retailer logged an 8% rise in fiscal 2015 pretax profit.

/zigman2/quotes/210599654/delayed
XX : STOXX
460.77
+1.57 +0.34%
Volume: 0.00
Feb. 3, 2023 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,476.43
-32.76 -0.21%
Volume: 0.00
Feb. 3, 2023 6:30p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0829
+0.0030 +0.2778%
Volume: 0.0000
Feb. 3, 2023 4:59p
loading...
/zigman2/quotes/204309985/delayed
DE : Germany: Frankfurt
131.74
-0.96 -0.72%
Volume: 2,467
Feb. 3, 2023 10:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€354,929
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
7,233.94
+67.67 +0.94%
Volume: 89,988
Feb. 3, 2023 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,901.80
+81.64 +1.04%
Volume: 620,645
Feb. 3, 2023 4:55p
loading...
/zigman2/quotes/205386705/delayed
UK : U.K.: London
2,480.00 p
+10.00 +0.40%
Volume: 1.46M
Feb. 3, 2023 4:35p
P/E Ratio
22.34
Dividend Yield
2.09%
Market Cap
£9.42 billion
Rev. per Employee
£307,974
loading...
/zigman2/quotes/203108786/delayed
US : U.S.: OTC
$ 29.90
-0.23 -0.76%
Volume: 57,647
Feb. 3, 2023 3:59p
P/E Ratio
20.94
Dividend Yield
2.02%
Market Cap
$11.40 billion
Rev. per Employee
$395,660
loading...
/zigman2/quotes/205449809/delayed
UK : U.K.: London
4,171.00 p
+69.00 +1.68%
Volume: 2.02M
Feb. 3, 2023 4:35p
P/E Ratio
21.76
Dividend Yield
3.49%
Market Cap
£105.29 billion
Rev. per Employee
£304,541
loading...
/zigman2/quotes/204685760/composite
US : U.S.: NYSE
$ 50.52
+0.25 +0.50%
Volume: 1.40M
Feb. 3, 2023 4:00p
P/E Ratio
19.83
Dividend Yield
3.62%
Market Cap
$127.47 billion
Rev. per Employee
$427,636
loading...
/zigman2/quotes/201823422/delayed
UK : U.K.: London
1,688.50 p
+15.00 +0.90%
Volume: 80,546
Feb. 3, 2023 4:35p
P/E Ratio
47.42
Dividend Yield
0.54%
Market Cap
£2.21 billion
Rev. per Employee
£94,346
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Carla Mozée is a reporter for MarketWatch, based in London. Follow her on Twitter @MWMozee. Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

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