Plus   Neg

European Shares Rise As Investors Await Trump Speech

stockmarkets dec21 12nov19 lt

European stocks inched higher on Tuesday after ECB Executive Board member Yves Mersch added his voice to a call for more supportive fiscal policy.

Underlying sentiment, however, remained cautious as investors awaited a speech by U.S. President Donald Trump at the Economic Club of New York later in the day for clues on the status of the Sino-U.S. trade talks.

The British pound inched higher as investors awaited further developments out of the ongoing general election campaign.

Nigel Farage said on Monday his Brexit party will not contest seats currently held by the Conservative Party of Boris Johnson.

The pan European Stoxx 600 was marginally higher at 405.52 after ending little changed with a negative bias in the previous session.

The German DAX was rising 0.3 percent, France's CAC 40 index was up 0.1 percent and the U.K.'s FTSE 100 was marginally higher.

German lighting manufacturer Osram Licht was little changed after it recommended shareholders accept a $4.4 billion takeover offer from AMS AG. Shares of the latter slumped 5.7 percent.

Dialog Semiconductor jumped nearly 7 percent after lifting its underlying gross margin and underlying operating margin forecasts.

Infineon Technologies soared 5 percent. The company forecast slower growth in the year ahead after reporting a rise in fourth-quarter profit in spite of macroeconomic uncertainty.

Post and logistics group Deutsche Post DHL jumped 5 percent after it reported an almost tripling of third-quarter operating profit.

Automotive supplier and tire manufacturer Continental dropped 1.8 percent as it slipped to a loss in its third-quarter.

British credit data firm Experian rose over 2 percent after the company upgraded its organic revenue growth target.

Industrial software company AVEVA rallied 3.5 percent after delivering strong first-half results.

Discounter B&M European Value Retail plunged 7 percent. The company has undertaken a strategic review to determine the future of its German business after reporting a sharp fall in half-year profit.

Anglo American shares advanced 1.3 percent. The mining giant said it is hosting an analyst and investor visit to Queensland, Australia this week to provide a detailed update on the company's Bulks businesses.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT