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European Shares Rise On Dovish Fed Comments

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European stocks advanced on Friday as investors cheered dovish comments by a top Fed official and Microsoft reported revenue of $125.8 billion for the fiscal year 2019 - setting a new record fiscal year for the company.

On the data front, the U.K. budget deficit widened to the highest June level since 2015 in June while the euro area current account surplus rose to a seasonally adjusted EUR 30 billion in May from EUR 22 billion in April, separate reports showed.

The pan European Stoxx 600 was up 0.3 percent at 388.03 after declining 0.2 percent in the previous session.

The German DAX and France's CAC 40 index were moving down around 0.4 percent, while the U.K.'s FTSE 100 was gaining 0.2 percent.

Budweiser owner Anheuser-Busch InBev soared 4.4 percent after announcing the sale of its Australian subsidiary for A$16 billion ($11.3 billion).

German automaker BMW rose 1 percent after it named Oliver Zipse as its new chief executive.

Reinsurer Munich Re climbed 2 percent. The company said it expects second-quarter consolidated result to be about 1 billion euros as a result of low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years.

Close Brothers Group tumbled 3 percent in London. The merchant bank flagged low trading volumes at its market maker unit.

Acacia Mining shares soared 19 percent. The company announced that it has reached terms of a recommended offer, under which Barrick Gold Corp. will acquire all Acacia shares which it does not already own.

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