European stock markets mid-session: DAX sets new all-time high, CAC40 highest level since 2008, FTSE100 just below all-time high
European stocks are trading higher today boosted by a weaker euro ahead of corporate earnings, with the single currency re-approaching lows from a month ago and down for a fifth consecutive day. The weaker single currency is seen as positive for Eurozone's economic recovery. Better-than expected French data on Industrial Production further added to the bullish sentiment.
The Unemployment Rate in Switzerland unexpectedly rose to 3.4% in March, above the estimated flat reading of 3.2%.
French Industrial Production for February came in at 0.0%, beating estimates for a decline by -0.1%. In January Industrial Production rose +0.4%. Year on year Industrial Production declined from a previous reading of +0.6% to +0.3%.
Today the Office for National Statistics reported U.K.'s Industrial and Manufacturing Production data for the month of March. Industrial Production only rose +0.1%, below the estimated increase of +0.3%. The output was dragged down by a strong decline in energy. In February Industrial Production declined -0.1%.
Manufacturing Production rose +0.4%, in line with expectations from -0.5% in the preceding month. The best performing sectors out of the 13 were transport equipment, machinery and metals. Seven sectors posted gains.
The commodity heavy FTSE 100 index is currently trading +0.37% quoted at 7,041.06 points, close to its all-time high hit in March. Germany's DAX 30 is trading at 12,309.66 points +1.18% close to a fresh all-time high set in today's trading session. France's CAC 40 is currently trading at 5,231.69 points, +0.44%, the highest level since 2008.
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