STOCK MARKET WATCH -- Monday, 23 December 2013

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25. European Stocks Climb on IMF Outlook; ARM Holdings Gains

http://www.bloomberg.com/news/2013-12-23/european-stock-index-futures-advance-swatch-might-move.html

European stocks advanced for a fourth day, the longest streak in two months, after the International Monetary Fund said it will raise its growth outlook for the U.S. economy. U.S. stock-index futures and Asian shares climbed.

ARM Holdings Plc, which designs chips for Apple Inc.’s iPhones, increased 2.5 percent as Apple struck a deal to sell the smartphone through China Mobile Ltd. Lanxess AG rose 3 percent after the chemical maker’s chief executive officer said the company will reach its full-year earnings forecast. Orell Fuessli Holding AG declined 4.1 percent after predicting “clearly negative” earnings for 2013.

The Stoxx Europe 600 Index climbed 0.3 percent to 321.99 at 12:01 p.m. in London. The gauge has rallied 15 percent this year and is heading for its biggest annual advance since 2009. Standard & Poor’s 500 Index futures and the MSCI Asia Pacific Index gained 0.4 percent today.

“The positive assessment the IMF gave with regard to U.S. growth corroborates the improving economic indicators we have been witnessing,” said Konstantin Giantiroglou, head of investment advisory at Neue Aargauer Bank in Brugg, Switzerland. “The sentiment going into Christmas and the New Year is good. We have an improving global economy and for the first time since the financial crisis we should see a synchronous recovery. We should see a continuation of the bull market in 2014.”