The European equities finished today’s trading higher in the green, to end with modest gains or minor changes.
The pan-European Stoxx Europe 600 index advanced 0.31 percent. The Euro Stoxx 50 index of Eurozone bluechip stocks increased 0.03 percent, while the Stoxx Europe 50 index.
The release of the weaker than expected US labour market data for the month of October weighed on today’s trade thus keeping any gains limited.
Moreover, two UK based companies, Arqiva, an owner of TV transmitters, and food producer Bakkavor, have withdrawn their planned stock market IPO due to market uncertainty and volatility. Arqiva said it would postpone its proposed initial public offering after its board and shareholders decided that "pursuing a listing in this period of IPO market uncertainty is not in the interests of the company and its stakeholders." The company said it would revisit the listing when IPO market conditions improve.
Equities in the United Kingdom settled higher in the green, with 77 gainers, 24 losers and no flat thus pushing the stock market index to end at 7,560.35 after gaining 0.07 percent or 5.03 point during today’s up-trending session.
Today’s gains were boosted by the rise in the Oil sector supported by the rally in Oil prices as well as the rise of United Arab Emirates-based healthcare services provider NMC Health PLC that rose by 4.29 percent.
The United Kingdom’s service sector expanded at the strongest pace in six months in October, largely driven by improved order books and client demand, survey data from IHS Markit showed Friday.
In Germany, the stock market traded sideways, but to manage to achieve some minor gains the session’s end. The DAX rose by 0.29 percent or 37.93 points to settle in the green at 13,478.86 led by the gains in the Telecommunications Services and Healthcare sectors.
In the Telecommunications Services Sector, Deutsche Telekom gained 1.46 percent after reports that T-Mobile and Sprint are working to salvage their $74 billion merger.
Meanwhile, Evonik rose by 0.96 percent as the chemicals maker announced a cost-cutting program after reporting 11 percent growth in third-quarter adjusted core profit.
Despite the decline in the mid parts of today’s trading session as well as the losses from the Financials sector, the French stock market edged slightly higher to settle in the green. The French stock market Index rose by 0.14 percent or 7.470 points to end at 5,517.97 marginally below the session’s high.
The automaker Renault led the CAC higher, after rising 3.9 as the French government announced it was selling a 4.73 percent stake in the company.
On the other hand, Societe Generale lost 4.09 percent as the lender reported a lower profit for its third quarter and said it would not proceed with its Global Employee Share Ownership Plan, citing uncertainty over US disputes and legal reasons.
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