European shares turn higher on talk of stronger Ifo
LONDON Jan 25 (Reuters) - German shares led European bourses higher on Friday on trader talk that a key sentiment indicator due at 0900 GMT would beat expectations.
Economists expected Germany's Ifo survey to come in at 103.0, compared with 102.4 in the previous month, but a recent string of strong economic data out of Europe's largest economy, including the ZEW survey earlier this week, raised market expectations for a good reading.
"The rumours are that the IFO will come in better than expected," said Ion-Marc Valahu, who helps run Geneva-based hedge fund Clairinvest.
Germany's Dax index rose 1 percent, while the pan-European FTSEurofirst 300 index rose 0.2 percent to 1,173.15 points.
- Tweet this
- Share this
- Digg this
- Qatar will not host 2022 World Cup, says FIFA's Zwanziger
- Tesco cuts profit outlook again and suspends staff after accounting error |
- Insight - Frankfurt exchange's China dream turns to nightmare
- Arab Bank liable over Hamas attacks - U.S. jury
- French national taken in Algeria, group claims kidnapping