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Jan. 21, 2021, 4:44 a.m. EST

European stocks rise after record-setting day in U.S., with Lagarde set to take stage

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By Steve Goldstein

European stocks rose on Thursday in a narrow but broad-based advance, as expectations build for a stronger economy after U.S. President Joe Biden’s first full day in office.

Up eight of the past 11 trading days, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.45% rose 0.3%, even as both the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.43% and French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.44% declined.

After fresh records for the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.45% and Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -3.52% , U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.31% inched higher.

Biden’s first day in office including the signing of a raft of executive orders, while he aims to get his $1.9 trillion fiscal stimulus proposal through a U.S. Senate where Vice President Kamala Harris is the tiebreaking vote. Early signs from earnings season also have been encouraging.

Markets aren’t expecting any changes from the European Central Bank decision due at 7:45 a.m. Eastern, with attention turning to the press conference with ECB President Christine Lagarde.

Of stocks in the spotlight, Sage Group /zigman2/quotes/204528931/delayed UK:SGE -0.49% , the U.K. accounting software company, rose 5%, after reiterating full-year guidance and saying fiscal first-quarter recurring revenue rose 4.7%.

Zur Rose /zigman2/quotes/205626361/delayed CH:ROSE +0.24% also rose 5%, as the Swiss-based mail-order pharmacy and drug wholesaler said fourth-quarter revenue jumped 24%.

IG Group /zigman2/quotes/204134958/delayed UK:IGG -0.25% fell 2%, after agreeing to buy TastyTrade for $1 billion to expand into the U.S. options and futures market, which it says is bigger than the rest-of-world retail contract-for-difference, currency and European Turbo options markets combined.

/zigman2/quotes/210599654/delayed
XX : STOXX
409.87
-1.86 -0.45%
Volume: 0.00
Feb. 26, 2021 10:52a
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,623.42
-28.54 -0.43%
Volume: 188,520
Feb. 26, 2021 9:52a
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,758.17
-25.72 -0.44%
Volume: 21,641
Feb. 26, 2021 10:52a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,829.34
-96.09 -2.45%
Volume: 2.92B
Feb. 25, 2021 5:19p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
13,119.43
-478.54 -3.52%
Volume: 5.47M
Feb. 25, 2021 5:16p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 3,839.75
+11.75 +0.31%
Volume: 344,760
Feb. 26, 2021 3:57a
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/zigman2/quotes/204528931/delayed
UK : U.K.: London
569.20 p
-2.80 -0.49%
Volume: 243,629
Feb. 26, 2021 9:51a
P/E Ratio
20.20
Dividend Yield
3.03%
Market Cap
£6.29 billion
Rev. per Employee
£163,390
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/zigman2/quotes/205626361/delayed
CH : Switzerland: SWX
CHF 424.50
+1.00 +0.24%
Volume: 20,162
Feb. 26, 2021 10:50a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
CHF4.36 billion
Rev. per Employee
CHF918,651
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/zigman2/quotes/204134958/delayed
UK : U.K.: London
787.50 p
-2.00 -0.25%
Volume: 86,459
Feb. 26, 2021 9:51a
P/E Ratio
8.47
Dividend Yield
5.49%
Market Cap
£2.92 billion
Rev. per Employee
£346,226
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