European shares higher on Wolfgang's assurance; DAX up 0.85 %
Published Dec 30, 2011 12:25PM ET
After the close of European trade, the EURO STOXX 50 was higher by 1.06%France's CAC 40 climbed 1.03%, while Germany's DAX 30 advanced 0.85%. Meanwhile, in the U.K. the FTSE 100 eased higher by 0.10%.
Previously in the week, euro shares closed higher on the session after the Institute for Supply Management reported a less than forecast decrease in its business barometer.
In addition, the Institute for Supply Management business barometer decreased to 62.5 this month from 62.6 in November. Analysts expected a drop to 61 therefore the reading provided a bullish surprise.
Yesterday, the much anticipated Italian long term bond auction disappointed investors with yields posting at just under 7%.
Pierre Mouton, a fund manager with Notz Stucki & Cie explained to Bloomberg, "We have had so much difficulty and a bad 2011. If the first three weeks of January are good, a lot of people who are not invested will start buying stocks. I'm relatively optimistic."
Elan climbed 2.2% after the Daily Mail reported that Johnson&Johnson may be moving for a takeover.
Wind energy giant, Vestas Wind Systems soared 4.9% after procuring a 69 mega watt order for a Swedish project, plus a 24 mega-watt order for France.
U.S. stocks were mixed across the board in midday trading with the Dow Jones Industrial Average falling 0.22%, the S&P 500 breaking even and the Nasdaq 100 easing higher by 0.02%.
Trading has been slow at only 31% of the average daily volume during this holiday week.
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Written By: Investing.com
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