Overseas Trading: Bank Stocks Lead Europe Higher

Japan's Nikkei suffered its sixth loss in the last seven sessions amid a stronger yen

by Alex Eppstein

Published on Feb 10, 2016 at 8:38 AM

With most Asian markets still closed for the Lunar New Year, Japan's Nikkei was once again on center stage. The index fell for the sixth time in the past seven sessions, giving up 2.3% as financial and commodity stocks were routed. Meanwhile, a stronger yen continued to weigh on exporters, with the automotive and electronics sectors taking it on the chin.

By contrast, European stocks are booming ahead of Fed Chair Janet Yellen's congressional testimony, which kicks off today. Banking names have been especially strong, led higher by Deutsche Bank -- up 13% amid bond buyback buzz, and helping the German DAX to a 2.4% intraday lead. Elsewhere, London's FTSE 100 and France's CAC 40 have tacked on 1.2%  and 2.5%, respectively, despite industrial production numbers falling short of estimates in both nations.


160210overseas


Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
Stocks Surge During Holiday-Shortened Week
Stocks chugged higher as the government responded to the coronavirus crisis with more funding
Bank Stocks Ease Investors Back Into Earnings Season
Bank stocks will kick off earnings season next week
The Top Lithium Play of 2020
Click to continue to advertiser's site.