News Go

News & articles

European Markets Finish Little Changed Ahead Of BoE Announcement

The European markets ended Wednesday’s session with mixed results, but were little changed overall. Traders were in a cautious mood ahead of Thursday’s policy decision from the Bank of England. Investors are also keeping an eye on the progress on U.S. President Donald Trump’s tax reform bill.

Chipmakers were under pressure after Apple said it would not ship its new iPhone X until November. AMS tumbled 3.86 percent and Dialog Semiconductor slid 1.57 percent.

The pan-European Stoxx Europe 600 index advanced 0.08 percent. The Euro Stoxx 50 index of eurozone blue chip stocks increased 0.30 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.27 percent.

The DAX of Germany climbed 0.23 percent and the CAC 40 of France rose 0.17 percent. The FTSE 100 of the U.K. declined 0.28 percent, but the SMI of Switzerland finished higher by 0 percent.

In Frankfurt, Bayer rose 0.45 percent. The conglomerate said it has reduced its direct interest in Covestro to 31.5 percent from 40.9 percent. Covestro rallied 3.67 percent.

In Paris, lens maker Essilor, which is in the process of merging with Italian peer Luxottica, dropped 2.33 percent.

Eramet sank 12.73 percent. Italian lenders Intesa Sanpaolo S.p.A. and UniCredit SpA announced that they have offloaded about 2.97 million shares in the French mining and metallurgy firm.

Vivendi climbed 2.78 percent after UBS upgraded its rating on the stock to “Buy” from “Neutral.”

In London, easyJet advanced 0.67 percent after the low cost airline said it would allow customers to use its website to book long-haul flights with other carriers.

Luxury goods group Richemont lost 1.18 percent despite the company reporting a 12 percent increase in sales at constant exchange rates for the five months ended 31 August 2017.

Specialty steelmaker Voestalpine fell 0.41 percent in Vienna after Germany’s antitrust regulator raided its headquarters as part of an investigation into suspected violations of antitrust laws in the…

Read the full article from the Source…

Back to Top