European shares closed Wednesday’s trading session in the red as investors kept an eye on fresh economic data.
The single currency rose against the greenback and the safe-haven assets Japanese Yen and Swiss franc to trade at 1.1807, 134.24 and 1.1679 respectively at 15:30 GMT. Euro found support from the positive economic data in the UK.
The leading European index Stoxx 600 fell on Wednesday by 0.58 percent or 2.24 points to close the trading session in the red at 387.09 pressured by the losses in all sectors except the sector of Technology as it added 0.24 percent.
Looking at specific stocks Basic resources were among the worst performers on earnings. Miner Antofagasta dropped 4 percent after cutting its 2017 guidance. Also, Bic declined by 9 percent, after reporting lower net sales in the third quarter.
In economic news, investors are keeping an eye on the interest rate decision of ECB which will be released on Thursday.
UK’s shares were down today where its primary benchmark FTSE100 dropped by 1.10 percent or 82.71 points to close the session in the red at 7,443.83, the index pushed down by the losses in all sectors except Technology sector.
In the currency market, the sterling rose against the greenback to trade at 1.3255 at 15:30 GMT.
In economic news, the annual and quarter UK’s GDP rose better than expected by 0.1 each reaching 1.5% and 0.4% respectively. However, UK’s Index of services fell in line with expectations by 0.1% to 0.4%.
Also, German’s shares fell today where DAX30 declined by 0.46 percent or 59.78 points to close Wednesday’s trading session in negative territory at 12,953.41, pressured by the losses in all sectors except Basic Materials and Technology sectors as both roses today.
Lufthansa stock rose by more than 2 percent after the firm reported an increase in its revenues for the third quarter and reported that its revenues for the next quarter could increase by higher than 4.5 percent.
Meanwhile, French equities closed today’s trading session in the negative territory where CAC 40 dropped by 0.37 percent or 19.91 points to settle down at 5,374.89 points, as the losses in Healthcare, Utilities, and Consumer Non-Cyclicals have weighed on stocks.
Looking at Specific stocks, the Luxury companies’ shares were higher today after Kering SA said the that the sales of Gucci and Yves Saint Laurent rose in the third quarter, Kering SA rose by 8.79 percent, Christian Dior share added 9 percent, and Luis Vuitton gained 1.7 percent.
Peugeot share fell by 1.4 percent after the firm reported that its revenues increased by 31.4 percent during the last quarter as sales rose in worldwide except in China.
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