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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 -1.01% 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 -0.93%  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 +0.0613%  to $1.1404. On the index, Volkswagen AG /zigman2/quotes/204309985/delayed DE:VOW3 +0.18%   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 -0.81%  picked up 1.4% to close at 4,675.29, while the U.K.’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.28% ended 1.1% higher at 6,338.67. The British benchmark was weighed, however, by Burberry Group PLC /zigman2/quotes/205386705/delayed UK:BRBY -1.86%   /zigman2/quotes/203108786/composite BURBY -0.98%  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 +0.86% /zigman2/quotes/204685760/composite UL +1.14%  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 +0.29%  rose 4.7% after the book and stationery retailer logged an 8% rise in fiscal 2015 pretax profit.

/zigman2/quotes/210599654/delayed
XX : STOXX
481.16
-4.89 -1.01%
Volume: 0.00
Jan. 14, 2022 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,883.24
-148.35 -0.93%
Volume: 80,457
Jan. 14, 2022 6:30p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.1423
+0.0007 +0.0613%
Volume: 0.0000
Jan. 17, 2022 2:28a
loading...
/zigman2/quotes/204309985/delayed
DE : Germany: Frankfurt
194.36
+0.34 +0.18%
Volume: 621.00
Jan. 17, 2022 8:11a
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
7,143.00
-58.14 -0.81%
Volume: 79,772
Jan. 14, 2022 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,542.95
-20.90 -0.28%
Volume: 668,465
Jan. 14, 2022 4:50p
loading...
/zigman2/quotes/205386705/delayed
UK : U.K.: London
1,719.00 p
-32.50 -1.86%
Volume: 2.28M
Jan. 14, 2022 4:35p
P/E Ratio
14.79
Dividend Yield
3.15%
Market Cap
£6.87 billion
Rev. per Employee
£276,993
loading...
/zigman2/quotes/203108786/composite
US : U.S.: OTC
$ 23.63
-0.24 -0.98%
Volume: 38,494
Jan. 14, 2022 3:49p
P/E Ratio
14.94
Dividend Yield
2.99%
Market Cap
$9.40 billion
Rev. per Employee
$378,485
loading...
/zigman2/quotes/205449809/delayed
UK : U.K.: London
3,936.50 p
+33.50 +0.86%
Volume: 1.98M
Jan. 14, 2022 4:35p
P/E Ratio
21.64
Dividend Yield
3.75%
Market Cap
£100.53 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204685760/composite
US : U.S.: NYSE
$ 54.29
+0.61 +1.14%
Volume: 2.69M
Jan. 14, 2022 4:00p
P/E Ratio
22.06
Dividend Yield
3.37%
Market Cap
$137.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201823422/delayed
UK : U.K.: London
1,564.50 p
+4.50 +0.29%
Volume: 485,954
Jan. 14, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£2.04 billion
Rev. per Employee
£71,011
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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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