The European markets ended today’s trading session mixed, with the UK’s FTSE 100 outperforming the rest of European indices after the Bank of England hiked interest rates.
The Bank of England raised its key rate for the first time in a decade despite Brexit hurting the economy, as inflation sticks to upward trend on a weaker pound.
The Pan-European Stoxx Europe 600 index fell by 0.44 percent and the Stoxx 50 index of Eurozone bluechip stocks lost 0.23 percent.
Eurozone manufacturing activity expanded at the fastest pace in more than six years in October as the final data from IHS Markit showed and the manufacturing Purchasing Managers' Index rose to an 80-month high of 58.5 in October up from 58.1 in September but the initial estimate of 58.6.
The United Kingdom’s stock market settled higher in the green, with the FTSE 100 raising by 0.9 percent or 67.36 points to end at 7,555 during today’s up-tending session. These gains were led by the Energy, Basic Materials and Utilities sectors as well as gainers that outnumbered the losers by a significant margin.
Playtech plummeted by 21.84 percent after the online casino games giant issued a profit warning, citing a slowdown in certain parts of Asia and problems with the Sun Bingo contract and Randgold Resources sunk by 7.23 percent after its third-quarter results missed their forecasts.
British construction activity signaled a marginal upturn in October, driven by a solid rise in residential building work, survey data from IHS Markit showed Thursday and the Purchasing Managers' Index rose to 50.8 in October from 48.1.
The German equities mostly traded side-ways to finish marginally lower at 13,440.93 to drop 24.58 points or 0.18 percent, with the gainers equaling the losers and no flat shares. The relatively heavy losses in the Technology and Consumer Non-Cyclicals sectors weighed on today’s trade.
After it raised its 2017 sales guidance after reporting a slight increase in third-quarter revenue, Hugo Boss rose by 1.60 percent. While, Fraport, the owner and operator of Germany's Frankfurt Airport, lost 2.91 percent after reaffirming its 2017 financial year outlook.
German unemployment declined in October as the Federal Labor Agency showed today, where the number of people out of work decreased by adjusted 11,000 to 2.495 million.
Similarly, the French stock market settled mostly flat after recovering from its losses in the mid parts of today’s trading session. The CAC 40 ended at 5,510.5 losing 0.07 percent or 3.79 points.
Losses in the Technology and Healthcare sectors weighed on the trade today, while the gainers that outnumbered the losers provided some support.
Sanofi fell by 1.23 percent after the drug giant reported a decline in third-quarter profit, but confirmed its full-year 2017 guidance for business earnings per share to be broadly stable at constant exchange rates.
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