Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

EUROPE MARKETS: Europe Stocks Close Modestly Higher, Driven By Earnings

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/08/2018 | 09:17pm CET

By Barbara Kollmeyer and Anneken Tappe, MarketWatch

Sodexo, Commerbank, Société Générale end higher on results

European stocks ended Thursday slightly higher after a mixed trading session, supported by banks such as Commerzbank AG and Société Générale SA, which climbed after well-received earnings reports.

What are markets doing?

The Stoxx Europe 600 closed 0.2% higher at 367.08, adding on from Wednesday's gain of 1.1% .

The U.K.'s FTSE 100 gained 0.3% to close at 7,140.68.

Yet it wasn't a good day for European stocks through and through. Germany's DAX 30 finished 0.5% lower at 11,527.32, while France's CAC 40 slipped to close 0.1% lower at 5,131.45.

Italy's FTSE MIB Italy index closed 0.6% lower at 19,429.14.

The euro and British pound spent much of Thursday trading in a tight range but sold off as the U.S. dollar strengthened following the Federal Reserve's policy statement.

One euro last bought $1.1358, down from $1.1488, while sterling fetched $1.3050 from $1.1326 late Wednesday in New York.

What is driving the market?

It was a mixed day in European stocks, as investors digested data showing that German exports fell unexpectedly, while a report from the European Commission also weighed some on sentiment after it said growth in the eurozone would slow from 2.1% in 2018 to 1.9% in 2019 and then 1.7% in 2020, weighed by trade worries, higher oil prices and general uncertainty.

Meanwhile, corporate earnings helped support stocks.

Investors were also looking ahead to the Federal Reserve's monetary policy decision, which came in after the European close and yielded no change. The U.S. central bank indicated it was going to continue gradual interest rate hikes. A 25 basis point hike is expected in December.

What are strategists saying?

"It appears that investors are getting nervy ahead of the evening's Fed statement. The central bank is expected to hold steady despite October's bloody trading and the latest political reshuffle in the U.S., leaving an interest rate rise in December very much be on the cards," said Connor Campbell, financial analyst at Spreadex.

Stock movers

Commerzbank shares closed more than 4% higher, after posting an earnings decline, but backed its 2018 outlook . Shares of Société Générale ended 2.1% higher after the French bank posted a 32% profit rise.

Rheinmetall rose 4.4% after strong earnings and adjusted guidance .

Coca-Cola HBC AG finished 4.2% higher after the bottling group said it remains upbeat on growth and posted a 2.6% revenue rise.

Stocks mentioned in the article
ChangeLast1st jan.
CAC 40 -0.41% 5011.34 Real-time Quote.-3.97%
COMMERZBANK -1.01% 8.094 Delayed Quote.-34.48%
DAX -0.11% 11335.74 Delayed Quote.-12.11%
EURO STOXX 50 -0.28% 3180.42 Delayed Quote.-7.97%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
RHEINMETALL -2.04% 75.88 Delayed Quote.-26.76%
SOCIÉTÉ GÉNÉRALE -0.69% 32.99 Real-time Quote.-22.80%
STOXX ITALY 45 (EUR) 0.90% 85.35 Delayed Quote.-11.78%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
01:13pMARKET SNAPSHOT: Nasdaq Poised To Fall 1% At The Open As Nvidia Weighs On Stock Market, Chip Makers
DJ
12:50pASIA MARKETS: Asian Markets Mixed, As Chip-maker Stocks Fall
DJ
12:47pOil Bounce Pushes Up Global Stocks
DJ
12:32pOil Bounce Pushes Up Global Stocks
DJ
11:46aCorrection to Stocks and Oil story
DJ
11:39aFragile recovery for FTSE as investors seek safety in mining, oil
RE
11:28aEUROPE : European shares and sterling try to shake Brexit blues
RE
11:20aEUROPE : European shares bounce after Brexit bruising, Vivendi shines
RE
11:13aSoutheast Asia stocks - Most rise; Philippines jumps about 2 percent after rate hike
RE
10:34aWALL STREET STOCK EXCHANGE : Stocks and Oil Higher as Brexit Drama Builds
DJ
Latest news "Markets"
Advertisement