EUROPE MARKETS: European Stocks End Higher With Investors In 'bargain-hunting Mode'
March 15 2018 - 1:24PM
Dow Jones News
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)
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