By Steve Goldstein, MarketWatch
European stocks advanced on Friday after surprisingly strong data in both the U.S. and China
The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.47% rose 0.68% to 399.43, with the index rising for the fourth week in a row to settle at the highest value since Jan. 29, 2018.
Investors have turned to European stocks of late. According to data compiled by Jefferies, more inflows in the week to Oct. 30 went into European stocks, at $1.7 billion, than U.S. equities, at $1.6 billion. That’s the strongest inflows into European stocks in one-and-a-half years.
The German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.22% increased 0.73% to 12961.05, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.31% rose 0.56% to 5761.89 and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.07% added 0.75% to 7302.42.
The China Caixin manufacturing purchasing managers index rose to the highest level in more than two years, and U.S. jobs grew more quickly than forecast in October.
Of stocks on the move, Danske Bank /zigman2/quotes/209678580/delayed DK:DANSKE +0.83% fell 4% as the lender said its 2019 profit will be at the lower end of its range. Its third-quarter profit rose 23%.
DSV Panalpina /zigman2/quotes/201394483/delayed DK:DSV +0.38% rallied 7.4% as the transport and logistics firm reported a stronger third-quarter operating profit than forecast on sea freight growth, in the first results since closing its Panalpina deal. The company also lifted its expectations of synergies from the Panalpina acquisition.