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European stock markets soar, Sanofi's surge contributes

European stock indexes were supposed to show their best weekly results for the last two months on Friday, as the jump in shares of French pharmaceutical giant Sanofi strengthened the positive attitude caused by the expectations of new moves by central banks to stimulate growth.

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France’s CAC 40 outperformed its rivals by 1.39 percent growth at 11.48 GMT, helped by a 5.0 percent jump in Sanofi shares after the company appointed Novartis executive director Paul Hudson as its new head.

During the week, investors generally preferred safer sectors, such as electric power companies, public gas and water supply companies, and health care, with the result that global stock markets increased despite uncertainty about trade and monetary policy.

European stocks came under pressure on Thursday after the single currency began to grow after the ECB meeting. The single currency dropped against the dollar by 0.02 percent to 1.1275.

In confirmation of the fact that trade friction and uncertainty due to Brexit caused serious damage to steel statistics on the volume of industrial production in Germany, which showed a significant decline. However, a more extensive recovery in the region helped the German DAX climb 0.68 percent to 12,034.99.

  • Italy’s FTSE MIB index rose by 0.94 percent to 20,366.72;

  • Spain’s Ibex 35 scored 0.72 percent to 9,235.30;

  • UK’s FTSE 100 added 0.82 percent to 7,319.68.

The automotive sector, which is sensitive to trade news, added 0.2 percent after reporting that U.S. President Donald Trump could postpone tariffs on Mexican goods, which are due to come into effect this Monday.

German Hella’s shares dropped by 4.3 percent after the brokerage company BHF downgraded its rating in order to keep in check the sector.

Shares of the Danish chemical company Novozymes fell 6.55 percent after the company lowered its sales forecast for 2019 for the second time in less than two months amid weak ethanol production in the United States.

The pan-European index Stoxx 600 advanced by 0.81 percent to 377.04.

Some more companies, that contributed to the growth of European shares: British American Tobacco (+6.45), Salvatore Ferragamo (+4.21), Mediaset (+4.21), Terna Rete Elettrica Nazionale (+3.22), BP (+2.46), GlaxoSmithKline (+2.67), Rolls-Royce (+2.88), Legal & General (+2.92), Evraz (+3.11), Fresnillo (+2.89), Severn Trent (+3.55), Iberdrola (+3.11), Endesa (+2.94), Ferrovial (+3.10), Mediaset Espana (+8.68), Linde (+4.00), Adidas (+2.47), E.ON (+3.85), RWE (+4.11), Legrand (+2.41), TechnipFMC PLC (+2.77).

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