European Markets gained for the fifth consecutive session on Tuesday, as the German market was closed due to the German Unity day holiday.
Looking at the common currency, the euro rose slightly against its dollar counterpart to trade lower at 1.1758 at 16:00 GMT. Furthermore, the single currency also rose versus Japanese Yen to trade at 132.68 at 16:00 GMT. Moreover, The EUR advanced versus the safe haven Swiss Franc to trade at 1.1446 at 16:00 GMT.
European primary benchmark Stoxx 600 rose by 0.59% in Tuesday's session to trade at 390.72 at the close. Led by gains generated in the Energy and Basic Materials sectors led to higher share prices.
In Spain The, Concerns eased after the government in Madrid said that it wants to work with other parties to resolve the matter of Catalan independence,
The government of Catalonia announced that 90 % of people voted in favor of independence while the Spanish authorities said that the voting is illegal, 800 people were injured in clashes with the police as they were trying to prevent people from voting.
The Catalan region represents 19 percent of Spain's growth; it will be a massive challenge for the country if the independence took place, according to Fitch.
In stocks news, Electrocomponents jumped 5.4 percent after it announced a trading update on Tuesday, which stated that the company's had a good second quarter.
Furthermore, Siemens Gamesa surged 5.18 percent after the announcement of a new contract for the supply of 13 turbines for China. On the other hand, Multinational advertising firm WPP fell more than 2 percent after Morgan Stanley sold 22.5 million shares in an accelerated bookbuild offering, Reuters said.Furthermore Ericsson, Iberdrola and BAE Systems all fell deep into the red as well, after a rating downgrades.
UK’s equities ended today’s session in positive notes; London’s leading benchmark FTSE100 rose by 0.39% to settle at 7,468.11. As gains generated in the Energy, and Basic Materials lifted share prices higher.
Regarding economic news, data had weighed on stocks in early trade, The purchasing managers' index for the construction sector dropped to 48.1 from 51.1 in the previous month, the first drop in activity in over a year. However, an increase in London-listed basic resources and retail stocks assisted the index to recover.
On Tuesday, the cable fell against its U.S dollar counterpart to trade at 1.3247 at 17:00 GMT.
German market was closed due to the German Unity day holiday.
French equities ended today’s session in the green, Paris’s Primary benchmark CAC40 rose by 0.32% to trade at 5,367.410, French shares were boosted by gains in Basic Materials and Energy sectors.
Regarding best performing stock Carrefour rose by 2.7 % followed by Kering and Airbus which gained 1.48% and 1.29 percent respectively.
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