European stocks advance for a second day

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - European stocks advanced for a second session Monday as risk aversion and Portuguese banks concerns recede.



The Stoxx Europe 600 rose 0.55% to 338.71. The index retreated 3.2% last week, the most since March 14. Among country-specific indexes, UK FTSE 100 gained 0.49%. Germany's DAX 30 climbed 0.53% and France’s CAC 40 added 0.52%. Italy’s FTSE MIB rose 0.69% while Spain’s Ibex 35 advanced 0.67%.



On the macroeconomic domain, the Eurozone will release May industrial production figures while ECB President Draghi will speak before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Strasbourg, France.



In the FX market, the US dollar came under pressure at the beginning of the European session following a quiet start in Asia. The EUR/USD rose to the 1.3640 area, while GBP/USD hit a daily high of 1.7128. The USD/JPY climbed to 101.52.



As for commodities, gold fell 1.07% to $1323 an ounce while crude oil dropped 0.50% to $100.34 a barrel. US futures point higher.



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