Equity Markets across Europe ended mostly higher but remained mixed for the week, after this week which was filed by market moving events.
The week’s most awaited UK’s general election dragged the Great British Pound lower to its seven weeks low making British shares more attractive for investors thus led the multi-national shares higher, while local shares that are in favor of the Brexit fell as the Conservative Party failed for secure the single party has a majority.
The Conservative Party which supports a hard UK exit from the European Union fell short of winning at least 326 seats needed to control the House of Commons.
During yesterday’s trading session, the European Central Bank kept its interest rates unchanged, as expected, but removed language from its policy statement indicating rates could go lower in the future.
British equities ended higher on the large gains across the market especially the Energy and Basic Materials sectors which led the market higher.
The UK stock market index, FTSE 100 ended the session higher at 7,527.33 rising by 1.04 percent or 77.35 points, but to end the week lower down from 7,523.48.
Today’s gainers more than doubled the losers on the FTSE 100 with 67 gainer, 32 losers and 2 flat shares.
The session’s best performers on the FTSE 100 were, Smurfit Kappa Group PLC rising by 5.03 percent, Fresnillo PLC adding 60 points and Antofagasta PLC gaining 3.51 percent to settle at 824.38.
The session’s worst performers on the FTSE 100 were, Taylor Wimpey PLC falling by 3.27 percent, followed by Babcock International Group PLC that dropped 26.5 points and The Royal Bank of Scotland Group PLC was down 2.44 percent ending at 250.9.
German shares settled higher after today’s mixed trading session supported by the large gains in the Basic Materials, Industrials and Financials sectors thus driving the equity market higher with very few losers.
The German stock market index DAX settled higher at 12,815.72 up from 12,711.53 rising by 0.80 percent or 102.14 points despite its decline in the early hours of the trading session, while settling in the green for the week up from 12,762.43
DAX gainers significantly outnumbered the losers at a 5 to 1 ratio, with 25 gainers, 5 losers and zero flat shares.
The session’s best performers on the DAX were, Heidelbergcement AG rising by 3.13 percent, trailed by BASF SE that added 2.33 points and Deutsche Lufthansa AG gaining 2.06 percent settling higher at 18.60.
The session’s worst performers on the DAX were, RWE AG falling by 1.30 percent, followed by Deutsche Boerse AG which dropped 0.78 points and E.ON SE shading 0.33 percent to end at 8.79.
French stock market settled higher with very minor declines during today’s choppy trading session on the gains of Basic Materials, Industrials and Financials that led the equities higher.
The French stock market index CAC40 ended the session higher after witnessing a step decline during earlier today’s trading session at 5,299.71 gaining 35.47 points or 0.67 percent but to remain in the red for the week.
CAC 40 gainers significantly outnumbered the losers with 32 gainers and 8 losers and no flat shares.
The session’s best performers on the CAC 40 were, Airbus SE rising by 2.25 percent, Solvay SA adding 2.1 points and Compagnie Generale des Etablissements Michelin SCA gaining 1.72 percent to settle at 118.
The session’s worst performers on the CAC 40 were, Sodexo SA that fell by 0.50 percent, trailed by Engie SA that dropped 0.055 points and Veolia Environnement SA was down 0.34 percent to end the session at 19.26.
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