China Shares Rise in Hong Kong as U.S. Jobs Data Beat Estimates

Chinese stocks traded in Hong Kong rose the most in seven weeks, joining a global rally as data on U.S. jobs signaled the world’s biggest economy is on a stronger footing.

The Hang Seng China Enterprises Index was up 1.9 percent as of 10:14 a.m., after sliding 2 percent last week. The S&P 500 Index jumped 1.5 percent on Friday after a report showed a 287,000-worker increase in nonfarm payrolls in June, the most in eight months. On China’s mainland, the Shanghai Composite Index climbed 0.3 percent on Monday.

The Hang Seng China Enterprises Index was trading at 8,696.35, while the Hang Seng Index climbed 1.6 percent to 20,888. Consumer and energy companies were leading gains, with Belle International Holdings Ltd. jumping 3.7 percent. China Petroleum and Chemical Corp. gained 2.8 percent, while China Shenhua Energy Co. rose 2.8 percent.

Source : Bloomberg

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European Stocks Rise as Credit Suisse, Unilever Beat Estimates

European stocks advanced, snapping a two-day losing streak, as companies including Credit Suisse Group AG and Unilever posted better-than-expected results.

Credit Suisse rose 4.8 percent after quarterly profit beat estimates on gains in private banking and wealth management. Unilever climbed 2.8 percent after the maker of Magnum ice cream reported higher-than-forecast second-quarter sales growth.

The Stoxx Europe 600 Index added 0.4 percent to 402.02 at 8:07 a.m. in London. Stocks fell on Wednesday after Apple Inc.’s results dragged semiconductor companies lower and commodity producers deepened declines.

In Greece, lawmakers passed a second package of creditors’ demands overnight. The government has said this was the last set of prior actions required by euro-area member states before negotiations on a third bailout can begin.

Source : Bloomberg

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