European stocks flip to gains, ignore mixed earnings

By FXStreet FXStreet (Mumbai) – The stocks on the European bourses stage a minor rebound, after opening on a weaker note this morning. However, the upside remains capped amid mixed corporate earnings reports while traders refrain from big bets ahead of the key event – ECB meeting tomorrow.

DAX leads the rebound in European stocks

Germany’s, the DAX erased losses and climbed higher as investors resort to profit-taking ahead of the ECB meeting due tomorrow. While traders also digest mixed corporate news amid no economic data.

While the UK’s FTSE cheered upbeat earnings results from the miner BHP Billiton, FMCG company Reckitt Benckiser and Sky TV. Meanwhile, the UK traders now await Bank of England (BOE) Governor Carney’s speech due later in the session.

Meanwhile, Germany’s DAX rises 0.46% to 10,192 points, while the UK’s FTSE trades 0.42% higher at 6,371. Among the other indices, the French CAC 40 index rises 0.40% to 4,690, while the pan-European Euro Stoxx 50 index advances 0.37% to 3,267 points.
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Source:: FX Street