As the fears regarding geopolitical tensions have eased, most of the European equities closed today’s session in the green territory following the positive performances in other markets such as the U.S and Asia stock markets.
Moreover, EUR appreciated against the green back, Swiss franc and the safe-haven yen to trade at 1.1963, 1.1491 and 131.62 respectively.
European leading benchmark Stoxx600 added 0.52% in Tuesday’s session to settle up at 381.42 as most of the sectors ended today’s trading session in positive territory.
The Swiss firm Dorma-Kapa holdings AG was the biggest gainer on Euro Stoxx600 index as its stock added 8.54% after the company announced on Monday that, its profit rose to CHF 224.6 million, its sales grew by 9.4%, and its dividends increased by CHF 2.00 per share.
Meanwhile, as individual stocks began their recovery from Hurricane Irma, insurance sector gained 0.78%. U.S.' National Hurricane Center and analysts have suggested that its economic impact might be slightly lower than previously anticipated.
UK’s equities ended today’s session in the red as FTSE100 dropped by 0.17% pressured by the losses in Consumer Non-Cyclicals and Utilities sectors.
The UK’s inflation data has released today. UK’s inflation reached its highest level since five years as the annual consumer price index rose to 2.9%, higher than expected by 0.1%, while Producer price index jumped from 6.2% in July to 7.6% in August, better than the expectations of an increase to 7.3%. Also, Core consumer price index came higher than expected where it rose at 2.7% while the expectations was an increase of 2.5%. GBP appreciated against the greenback at 1.3279.
Ashtead Group PLC was the best performer on FTSE100 as its stock added 4.45% during today’s session after the firm announced that its pretax profit for the first quarter increased by 21% to GBP 238 million, while its revenue from rental activities rose 17 % reaching GBP 828.8 million. Moreover, the firm expects the clean-up and rebuilding needed in the United States after hurricanes Harvey and Irma to generate more demand for its diggers and tools.
Germany’s stocks ended today’s session in the green as DAX30 gained 0.40% to settle up at 12,524.77.However, losses in Utilities sector have weighed on the index.
As the fears regarding to the geopolitical tensions in North Korea has shifted, Financial sector in Germany and other European countries has gained today. Deutsche Bank AG’s stock added 3.57% in today’s session. Despite the news that The U.S. Justice Department on Monday charged Deutsche Bank's former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis.
French’s equity ended Tuesday’s session in positive territory, CAC 40 rose by 0.62% to trade at 5,209.01 supported by the gains which generated by the financial sector.
Peugeot SA was the biggest gainer where its stock increased by 3.76% after the firm decided to integrate Opel after buying it from General Motors.
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