The European equity markets finished today’s trading session mixed, led by the German stocks that were boosted by the auto-makers shares ratings’ upgrade.
Meanwhile, these gains were limited ahead of the European Central Bank interest rate decision and as the concerns over North Korea continues to weigh on investor’s sentiment.
The Stoxx Europe 600 managed to end higher at 373.95 spanning from its two trading session losing streak and recovering from its negative open.
Insurance companies in the Stoxx Europe 600, limited today’s gains, with Swiss insurer Zurich Insurance Group AG dropping 0.71 percent, Swiss Re AG losing 0.89 percent and AXA SA ending lower by 0.48 percent.
The European Euro was slightly higher ahead of the European Central Bank interest rate decision, thus having limited or no effect on the equity market today.
The UK stock market was mostly mixed due to the concerns of the impact of the Brexit on the housing market, the FTSE 100 settled marginally lower at 7,354.13 dropping 18.79 points.
The concerns of the impact of the Brexit on the housing market led Barratt Developments to fall by 4.57 percent and Berkeley Group Holdings to lose 2.53 percent.
Royal Mail fell 0.70 percent after reports that the Communications Workers Union will vote on industrial action.
Meanwhile, Software group Micro Focus surged by 6.16 percent after posting improved third-quarter results for the newly-acquired software business of Hewlett Packard Enterprises.
The Great British Pound was higher during the European trading session nearing its four weeks’ high also weighing on the British equities.
The auto-makers sector lifted the German equities higher, where the DAX 30 settled higher at 12,214.54 gaining 90.83 points or 0.75 percent.
The auto-makers sector’s gains came due to their shares rating’s upgrade.
Meanwhile, the German factory orders declined unexpectedly in July on weak domestic demand and Germany's construction sector had a softer growth in August but remained strong in the context of historic survey data, IHS Markit reported Wednesday.
Daimler AG surged by 4.45 percent after Goldman Sachs upgraded the auto maker to buy from neutral
Moreover, Volkswagen AG rose by 2.80 percent and BMW AG was higher by 3.00 percent.
French equities managed to end today’s trading session in the green, supported by the gains in the Utilities, Consumer Goods and Healthcare sectors.
The French stock market Index CAC40 rose higher gaining 0.29 percent to close at 5,101.41, where the 23 gainers outnumbered the 17 losers with no flat shares.
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