World stocks up on US data, Merkel

Monday, August 20, 2012 - Amsterdam—Mildly positive news about the US economy and reassuring words from German Chancellor Angela Merkel about the euro were enough to push global financial markets higher by midday trading in Europe Friday.

European stocks rose in early trading. Britain’s FTSE 100 gained 0.2 percent to 5,846 while Germany’s DAX was 0.2 percent higher at 7,012.51 and France’s CAC-40 added 0.1 percent to 3,484.80.

The US government reported Thursday that building permits jumped to their highest level since August 2008, a hint of stronger construction in the coming months.

Meanwhile, networking equipment giant Cisco reported earnings that beat expectations.—Agencies