LONDON — Europe’s indexes got off to a mostly positive start this morning, while Asia’s indexes also closed up.
The DAX rose 0.7 percent, the FTSE MIB was up 0.9 percent and the CAC 40 edged up 0.5 percent. Banking shares were among those that lifted Europe’s indexes, with Credit Agricole up 6.3 percent and Societe Generale up 2.6 percent in Paris. The FTSE 100 dipped 0.1 percent in morning trading.
Tokyo’s Nikkei closed up 1.5 percent, after positive data from the U.S. on demand for durable goods there boosted shares in Japan’s manufacturers.
Fashion and luxury stocks were also performing well this morning, with Marcolin up 2.2 percent, Ferragamo up 4.9 percent, Swatch Group up 2.8 percent and Hugo Boss up 5.8 percent.
Less encouraging news came in a survey released today by the U.K.’s Nationwide building society, which showed that its measure of consumer confidence in the country had fallen to 49 points in July, down two points from the previous month. Robert Gardner, Nationwide’s chief economist, said that the fall “[reflects] increased uncertainty around the outlook for the U.K. economy.”
Meanwhile, a report released today by Nuremberg-based research firm GfK gives a mixed outlook for consumer climate in Germany.
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“The worsening of the international debt crisis and rising fears of a return to recession for the global economy have clearly left their mark on the economic optimism of Germans,” the GfK report said.
Still, research shows that consumers in Europe’s biggest economy are willing to spend, due in part to falling unemployment figures, according to GfK, which cited high-value purchases and suppressed savings behavior in August.