EUROPE MARKETS: European Stocks End Higher With Investors In 'bargain-hunting Mode'

Date : 03/15/2018 @ 1:24PM
Source : Dow Jones News
Stock : FTSE 100 (UKX)
Quote : 7421.43  42.11 (0.57%) @ 11:45AM
FTSE 100 share price Chart

EUROPE MARKETS: European Stocks End Higher With Investors In 'bargain-hunting Mode'

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By Carla Mozee and Victor Reklaitis, MarketWatch

H&M shares lower after sales disappoint

European stocks finished higher Thursday, with broad-based gains indicating a pickup in risk appetite after two sessions of losses that were in part spurred by fears of a global trade war.

How markets are moving

The Stoxx Europe 600 index rose 0.5% to close at 376.88. On Wednesday, the index fell 0.2% (http://www.marketwatch.com/story/european-stocks-flip-up-as-draghi-says-subdued-inflation-will-keep-bond-buys-in-place-2018-03-14).

Germany's DAX 30 jumped 0.9% to end at 12,345.56, and France's CAC 40 index tacked on 0.7% to finish at 5,267.26. The U.K.'s FTSE 100 index rose 0.1% to close at 7,139.76.

The euro bought $1.2314, down from $1.2369 late Wednesday in New York.

What's driving markets

The tech and insurance groups were among the strongest performers after two straight losing sessions for regional shares. European stocks had been on course to finish higher on Wednesday, but turned around alongside a selloff in U.S. stocks , which appeared hit by the White House saying it will seek to trim the U.S.'s trade deficit with China by $100 billion.

Trade-war fears have been putting pressure on global markets in recent sessions as U.S. President Donald Trump ordered tariffs on steel and aluminum imports.

What strategists are saying

"Investors are in bargain-hunting mode. The strong finish in Asia overnight has encouraged dealers to buy back into the market. That being said, there still is political and economic uncertainty surrounding the U.S. For now, investors are viewing no news as good news," said David Madden, market analyst at CMC Markets, in a note.

Read more:U.S. joins U.K. in condemning Russia over poison attack on ex-spy (http://www.marketwatch.com/story/us-joins-uk-in-condemning-russia-for-poison-attack-on-ex-spy-2018-03-15)

And see:Bank of France lifts growth, inflation forecasts (http://www.marketwatch.com/story/bank-of-france-lifts-growth-inflation-forecasts-2018-03-15)

Stocks in focus

H&M Hennes & Mauritz AB slid 3.3% after the Swedish fast-fashion retailer posted lower-than-expected sales in the first quarter.

Assicurazioni Generali SpA (G.MI) rose 2.5% after the Italian insurer said it would raise its dividend for 2017 (http://www.marketwatch.com/story/generali-2017-net-profit-edges-up-hikes-dividend-2018-03-15) as net profit increased slightly and operating profit reached a record high during the year.

Shares of Spirax-Sarco Engineering PLC (SPX.LN) bulked up 6% as the engineering company said profit increased 12% in 2017 and declared a last dividend of the year at 62 pence, up 16% from the year-earlier period. (http://www.marketwatch.com/story/spirax-sarco-profit-climbs-lifts-final-dividend-2018-03-15)

Unilever PLC's London-listed shares (ULVR.LN)(UNA.AE) gave up 1.7% after the Anglo-Dutch consumer-goods heavyweight said it would consolidate its dual headquarters in Rotterdam (http://www.marketwatch.com/story/unilever-chooses-rotterdam-over-london-for-hq-2018-03-15) rather than in London. The decision was made despite last-minute lobbying by the U.K. government..

Tesco shares (TSCO.LN) climbed 1.8% after the supermarket operator was upgraded to overweight at J.P. Morgan, according to Dow Jones Newswires.

 

(END) Dow Jones Newswires

March 15, 2018 13:09 ET (17:09 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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