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Europe stocks up ahead of EU industry data; DAX gains 1.04%

Published 06/14/2010, 05:32 AM
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Investing.com – European stocks were up on Monday ahead of a report which was expected to show that industrial production in the euro zone increased for an 11th straight month in April.

During European morning trade, the EURO STOXX 50 was up 1.14%; France’s CAC 40 rose 1.17%; and Germany's DAX was up 1.04%.

Later Monday, the European Union was to publish a monthly report on industrial production in the euro zone, measuring the change in the total value of output produced by manufacturers, utilities, and mines.

In London, the FTSE 100 rose 0.56%, with metal producers emerging among the top performers as BHP Billiton Ltd. and Rio Tinto Group both climbed more than 2%.

Earlier Monday, the Swiss statistics agency said its producer price index, which measures the change in price of goods and raw materials purchased by manufacturers, rose 0.3% during the month, after an increase of 0.6% in April.

Economists had expected the index to be flat in May.

The outlook for U.S. equity markets, meanwhile, was rosy: Dow Jones Industrial Average futures indicated a rise of 0.47%, S&P 500 futures pointed to a rise of 0.53% and Nasdaq 100 futures indicated an increase of 0.48%.

Later in the day, the leaders of France and Germany were set to hold a meeting in Berlin, where they were likely to try to overcome deep-rooted disagreements on European economic governance.



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