European stocks advanced for a sixth straight week, the longest winning streak in a year, as a US jobs report indicated the economy is strengthening and concern eased that Greece’s debt crisis will spread to other nations.
The STOXX Europe 600 Index rose 0.8 percent to 269.74 this week. The measure has climbed 6.2 percent this year, reaching the highest level since September 2008, as central banks maintained record low interest rates and the EU agreed a contingency rescue plan to help prevent Greece from defaulting on its debt.
“The topic of Greece will keep resurfacing, but it will be solved one way or another and shouldn’t be overdramatized,” said Manfred Hofer, head of equity analysis at LGT Capital Management in Pfaeffikon, Switzerland, which oversees about US$73 billion. “US consumption is important and if we see an increase in jobs that shows that the economy is developing further in a positive sense. Markets still have upward potential.”
The STOXX 600 dropped for the first two months of the year amid concern that Greece, Portugal and Spain will struggle to rein in their budget deficits.
SCHEDULE: The delegation is due to meet with President Tsai Ing-wen this morning and witness the signing of an MOU on bilateral health cooperation in the afternoon US Secretary of Health and Human Services (HHS) Alex Azar yesterday arrived in Taipei aboard a US government plane at the head of a delegation that is the highest-level visit by a US official since Washington switched diplomatic recognition to China in 1979. Azar’s flight landed at Taipei International Airport (Songshan airport) at 4:48pm, nearly one hour earlier than scheduled, the Ministry of Foreign Affairs said. The apron where it landed is reserved for military aircraft, the Songshan Air Force Base Command said. The members of Azar’s delegation included HHS Assistant Secretary for Preparedness and Response Robert Kadlec, HHS Chief of Staff Brian
CHINESE FIGHTERS: Beijing marked the US Cabinet member’s visit by briefly sending two warplanes across the median line of the Taiwan Strait yesterday morning President Tsai Ing-wen (蔡英文) yesterday met with US Secretary of Health and Human Services Alex Azar in the highest-level official meeting between the two nations since 1979. “It is a true honor to be here to convey a message of strong support and friendship from [US] President [Donald] Trump to Taiwan,” Azar said during the open portion of his courtesy call to the Presidential Office, which was streamed live online before Tsai and Azar held a closed-door meeting. “Taiwan’s response to COVID-19 has been among the most successful in the world, and that is a tribute to the open, transparent,
Taiwanese-independence advocates yesterday accused former president Ma Ying-jeou (馬英九) of breaking national security laws and called on the judiciary to investigate after his statement that “China will wage a battle, which will be quick and will be the last battle for Taiwan.” Ma showed his true colors “as a mouthpiece of the Chinese Communist Party” in his speech on Monday when he said the “first battle will be the last,” Taiwan Republic Office (台灣國辦公室) director Chilly Chen (陳峻涵) said. “Ma is threatening Taiwanese by claiming that Beijing will launch a quick invasion of Taiwan, but that the US military will have no
CHASTISING CHINA: Taiwan’s approach to combating the coronavirus stands in stark contrast to the country where the outbreak began, the US health secretary said International organizations are not the place to play politics, especially when the matter relates to healthcare, US Secretary of Health and Human Services Alex Azar said in Taipei yesterday, adding that the region and the world are safer because of Taiwan’s commitment to health promotion. On the third day of his visit, the highest-level visit by a senior US Cabinet official in decades, Azar met with Minister of Foreign Affairs Joseph Wu (吳釗燮) at the Grand Mayfull Hotel in Zhongshan District (中山) yesterday morning, following his meetings with President Tsai Ing-wen (蔡英文) and Minister of Health and Welfare Chen Shih-chung (陳時中)