European markets ended Wednesday’s session in red territories with the exception of the German market.As The political tension in Catalonia was present in today’s session.
Furthermore, Investors were cautious ahead of the Federal Reserve meeting; investors are hoping that the meeting will shed some light regarding the Fed outlook for interest rates.
Looking at the common currency, the euro rose against the dollar to trade at 1.1841 at 16:00 GMT. Furthermore, the single currency also rose versus Japanese Yen to trade at 133.09 at 16:00 GMT. Moreover, The EUR gained versus the safe-haven Swiss Franc to trade at 1.1528 at 16:00 GMT.
European primary benchmark Stoxx 600 edged lower by 0.01% in Wednesday's session to trade at 390.15 at the close. The index found pressure from the Basic Materials sector.
In the Basic Materials sector news, the paper company Mondi announced its third-quarter underlying profits which came above expectations by 8%. However, the company stated that its yearly performance was below market expectations. The company’s share dropped by nearly 8%.
Meanwhile, Provident Financial fell 4.3% after Barclays downrated its stock rating to underweight from equal weight.
On the other hand, the German food-processing machinery GEA Group jumped almost 6% after the hedge fund, Elliot announced a stake in the firm yesterday driving its stocks higher.
In terms of the Catalan independence, Catalonia President Carles Puigdemont signed a document yesterday declaring independence from Spain. However, they also postponed the independence for the coming weeks.
UK’s equities ended today’s session in red territories; London’s leading benchmark FTSE100 fell 0.06% to trade At 7,533.81. As losses in the Basic Materials and Financial sectors led the index lower.
Regarding best-performing stocks, Whitbread gained 3.42% followed by NMC Health and Smith & Nephew which gained 3.32% and 3.09 % respectively.
On Wednesday, the sterling rose against its U.S dollar counterpart to trade at 1.3210 at 17:00 GMT.
German equities ended Wednesday’s session in green; the index found support from the Utilities sector which rose by 3.07%.
The leading German index DAX 30 gained 0.17% to end the session at 12,970.68
Regarding best-performing stocks, RWE rose 3.43% followed by E.ON and ThyssenKrupp which rose 2.87% and 2.01% respectively, on the other hand, BASF fell 0.84% while Adidas fell 0.51%.
French equities ended today’s session in red notes, Paris’s Primary benchmark CAC40 edged lower by 0.02% to trade at 5,362.410. The French index was pressured by losses the Healthcare and Industrial sectors.
Regarding best-performing stocks, Engie gained 2.7% followed by Kering which rose 1.58%.
© Copyright 2017
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.