INGOT Brokers AU | European market report (2017-09-05)

European market report (2017-09-05)


European stocks removed morning gains and ended slightly lower on Tuesday, as concerns about North Korea’s thermonuclear-bomb testing spooked investors.

The Stoxx Europe 600 index declined 0.1% to close at 373.71. The index on Monday fell 0.5%, breaking a three-session winning streak after North Korea conducted a nuclear bomb test and was said to be preparing for a possible launch of another intercontinental ballistic missile.

Talking about stock specific news in the Stoxx Europe 600 index, Shares in Schneider Electric added 0.3% after the French industrial group reached a deal to take control of British engineering software maker Aveva Group PLC. Off the Stoxx 600, shares of Aveva Group rose 26%.

Elsewhere in the currency markets, EUR/USD is showing little movement this week, as the pair close to the 1.19 level. Currently, the pair is trading at 1.1904, up 0.07% on the day. In economic news, German and Eurozone Services PMI were within expectations. Eurozone Retail Sales came declined 0.2%, shy of the estimate of -0.3%.


FTSE 100

U.K. stocks edged down on Tuesday after the rally in the pound which reached a three-week high and as investors struggled with a below than expected report on British services activity and the geopolitical tensions across the North Korean nuclear program.

The FTSE 100 edged down 0.5 percent to end at 7,372.92, with only the oil and gas and utilities sectors in the green. The index saw declining shares outnumbered the advancing ones by 70 to 30.

In the currency market, the Sterling advanced to reach $1.3020 trading above the $1.30 levels since Aug.14.





Germany stock market ended Tuesday’s session in mixed territories with gains in the Food & Beverages, Technology and Retail sectors pushing the index up, while losses in the Insurance, Telecoms and Basic Resources sectors have minimized those gains.

The DAX 30 index edged up 0.18 percent to end at 12,123.71 points. Tuesday’s session witnessed advancing stocks beating declining ones by 19 to 10 with one share ended flat.

Merck stock was the top performer of the session after rising 2 percent as the German pharmaceutical major put its consumer health business up for sale.



French equities ended Tuesday’s session in the red pressured by the losses in the Financials, Basic Materials, and Consumer Goods sectors.

The French CAC40 index fell 0.3 percent to end at 5,086.56. Tuesday’s session observed declining stocks beating advancing ones by 23 to 17.



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