Plus   Neg

European Shares Rise As Euro Dips Ahead Of Central Bank Meetings

asian markets1 13jun18

European stocks were modestly higher on Wednesday as geopolitical tensions eased and the dollar stood tall against the euro ahead of the Fed and ECB meetings.

The U.S. Federal Reserve is widely expected to raise interest rates by 25 basis points when it ends its two-day policy meeting later today.

On Thursday, the European Central Bank may outline plans for ending its bond purchasing program.

In economic releases, regional data proved to be a mixed bag. While euro area industrial production fell more sharply than expected in April, U.K. consumer price inflation unexpectedly held at an annual rate of 2.4 percent in May, its lowest level since March 2017.

The pan-European Stoxx Europe 600 was up 0.26 percent at 388.52 in late opening deals after closing 0.1 percent lower the previous day.

The German DAX was rising 0.1 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were up around 0.2 percent each.

Glencore rallied 2.4 percent, a day after its unit Katanga Mining said it had agreed a recapitalization plan for 75-percent-owned Kamoto Copper Co with Gécamines.

Sky Plc lost over 1 percent in London after a judge has ruled that AT&T and Time Warner can merge.

Just Eat slumped 8.4 percent on worries about heightened competition after
Deliveroo said it would allow partner restaurants to use their own riders.

Banking stocks were broadly lower on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus program by year-end.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT