Asian stocks rise on Chinese optimism

<p>Asian stocks climbed last night after the Chinese Premier spoke about the positive outlook for economic growth, expected above 7%. European indices opened slightly up […]</p>

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Asian stocks climbed last night after the Chinese Premier spoke about the positive outlook for economic growth, expected above 7%.

European indices opened slightly up this morning. with the DAX trading at 8355 and the FTSE at 6650 just after 8am.

Turning to companies, the FTSE was topped by Anglo American, Glencore, Xstrata and Eurasian. Also, Premier Foods announced that their half year losses narrowed, which raised expectations for the annual results.

In the US, Netflix reported weak quarterly results yesterday. Later on today Apple is publishing its earnings report, most likely after the closing bell this evening.

On the forex market, USD depreciated a little against the euro, pound sterling and Australian dollar.

In terms of economic events, things are looking rather quiet today. The only major data will be retail sales figures from Canada at 1.30pm. EU Consumer Confidence data at 3pm could have an impact on the value of the euro.

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