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European equities finally took a breath on Thursday’s trading session after a five consecutive trading sessions in the red, this rebound was due to the rally in the oil prices and the developments in the upcoming U.K general elections.
The big story nowadays still the U.K elections, as investors are watching carefully the latest polls which recently showed that the conservatives are leading with 3 points over the Labour sides.
In the release front Growth in the U.K. manufacturing sector slowed down in May, with the purchasing managers index for the sector slowing to 56.7 from April’s three-year high of 57.3. A reading above 50 signals expansion, also the final Eurozone manufacturing PMI confirmed the flash estimate of 57.0, marking a 73-month high. The index came in at 56.7 in April.
The U.K. stock market rebounded after three consecutive sessions in the red,The FTSE 100 index climbed 0.3% to end at 7,543.77, helped by the pound’s woes after another election poll showed a drop in support for Theresa May’s governing Conservative Party.
Today’s gainers outnumbered the losers on the FTSE 100 by 70 to 30.
The session’s best performers on the FTSE 100 were, Paddy Power Betfair PLC rising by 4.34%, 3i Group PLC adding 32 points and ConvaTec Group PLC gaining 3.38% settling at 323.69.
The session’s worst performers on the FTSE 100 were, National Grid PLC falling by 3.63%, Mediclinic International PLC dropping 27.5 points and ITV PLC shading 2.10% ending at 194.60.
Supported by the gains in the Food & Beverages, Basic Resources and Media sectors, German stock markets closed higher by 0.4 percent to end up at 12,664.92 points. Gainers on DAX marginally outnumbered the losers by 21 to 9.
The session’s best performers on the DAX were, Bayerische Motoren Werke AG which rose 1.96% or 1.630 points to trade at 84.920 at the close. Meanwhile, Linde AG O.N. added 1.82% or 3.10 points to end at 173.05 and Volkswagen AG VZO O.N. was up 1.50% or 2.00 points to 135.75 in late trade.
The session’s worst performers on the DAX wereDeutsche Telekom AG Na which fell 2.51% or 0.445 points to trade at 17.280 at the close. Thyssenkrupp AG O.N. declined 1.44% or 0.340 points to end at 23.270 and Deutsche Boerse AG was down 0.70% or 0.650 points to 91.830.
French equities finished Thursday’s trading session higher after the increase in the Technology, Basic Materials and Consumer Services sectors, the CAC 40 index rose 0.66% to close at 5,318.67.
CAC 40 gainers outnumbered the losers by 32 to 7, with 1 share ended flat.
The session’s best performers on the CAC 40 were, Airbus Group SE which rose 2.96% or 2.16 points to trade at 75.23 at the close. Meanwhile, Nokia Oyj added 2.79% or 0.157 points to end at 5.793 and Renault SA was up 2.07% or 1.72 points to 84.81 in late trade.
The session’s worst performers on the CAC 40 were, Orange SA which fell 0.70% or 0.11 points to trade at 15.53 at the close. Engie SA declined 0.44% or 0.06 points to end at 13.53 and Sanofi SA was down 0.33% or 0.29 points to 87.88.
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