European equities and US stock futures traded higher on Friday, as investors maintained expectations for a US stimulus deal at the end of a positive week for the markets.
Stoxx Europe 600 Index SXXP,
Rose 0.4% and is up 1.5% for the week, with another session to go. German DAX DAX,
French CAC 40 PX1, while was flat
And FTSE 100 UKX,
Each rose 0.4%.
Dow futures rose across the board with the YM00,
More than 100 digits. The key index closed on Thursday on a poll fading concern and hopes of more than an incentive package, even though it does not come until after that fight for the White House.
President Donald Trump said on Thursday that stimulus talks with Democrats have become productive, following his decision just days before they were to be closed. Hours later, House Speaker Nancy Pelosi said she still wanted a big deal.
Elsewhere, a private gauge of China’s services-sector activity expected rapid growth in September. News-sensitive mining stocks were a major consumer of natural resources about China. Shares of Anglo American UK: Alaros 2% and Fresnillo UK: FRES gained 2.2%.
The economic news was less positive for the UK, where the economy grew only 2.1% in August, disappointing forecasts for an initial 4.6% growth, and the slowest monthly gain since the initial coronovirus lockdown. France reported slow industrial production in August.
Rising oil prices had raised the shares of heavily weighted oil companies. Oil prices CL.1,
Thursday ended on a high as Hurricane Delta shut down more than 90% of crude oil production in the Gulf of Mexico. Crude prices were stable on Friday.
Total total shares,
Royal Dutch Shell RDSA,
And BP BP,
All increased by more than 1%.
Semiconductor-related shares were driven after shares of NXP Semiconductors NXPI,
The rally rallied late in the US on Thursday. The chipmaker shelved its outlook for the quarter.
And advanced micro devices AMD,
The Wall Street Journal has advanced talks to buy rival chipmaker Xilinx in a deal that could cost more than $ 30 billion, citing people familiar with the matter.
In Europe, shares of Infineon Technologies IFX,
1.6% and Dialogue Semiconductor rose to DLG,
Shares of Rolls Royce Holdings RR,
13% were rising again. Shares have gained 95% this week, but are down 67% to date.
London Stock Exchange LSE,
Euronext ENX has agreed to sell its entire shareholder in the parent company of Borsa Italia,
In a deal of 4.33 billion euros ($ 5.09 billion). LSE’s stock rose 0.8%, while Euronext’s stock rose 0.9%.