EUROPE MARKETS: Fourth Win In A Row On The Line For Europe Stocks; U.K. Banks In The Lead
19 Septiembre 2018 - 09:02AM
Noticias Dow Jones
By Barbara Kollmeyer, MarketWatch
Materials stocks provide support
Europe's main stock gauge edged higher Wednesday, set to deliver
its fourth straight winning session as banks and materials stocks
posted gains.
Danske Bank AS stood out among the losers as its top executive
stepped down over a money-laundering scandal.
What are markets doing?
The Stoxx Europe 600 was up 0.2% at 379.48, in a week that has
delivered a 0.4% rise. Shares squeaked by with a 0.1% gain on
Tuesday
(http://www.marketwatch.com/story/european-stocks-rise-led-by-surge-for-biotech-galapagos-2018-09-12).
Germany's DAX 30 rose 0.3% to 12,191.77, while France's CAC 40
added 0.5% to 5,387.99. The U.K.'s FTSE 100 gained 0.5% to
7,338.09.
The euro was little changed at $1.1672 against the dollar. The
pound bought $1.3139, compared with $1.3147.
What is driving the market?
The pound shot up earlier Wednesday, reaching above $1.32 after
U.K. inflation jumped to a surprise six-month high of 2.7%. The
news boosted banks on the view that the Bank of England may be
pressure into more interest rate increases after an August hike
(http://www.marketwatch.com/story/bank-of-england-raises-key-lending-rate-to-075-2018-08-02).
But the pound eased back
(http://www.marketwatch.com/story/uks-may-reported-to-reject-irish-border-proposal-british-pound-slumps-2018-09-19-7912642)
after a report
(https://www.thetimes.co.uk/edition/news/theresa-may-to-reject-improved-eu-offer-on-irish-border-3mwvjzg2r)that
U.K. Prime Minister Theresa May would
(http://www.marketwatch.com/story/uks-may-reported-to-reject-irish-border-proposal-british-pound-slumps-2018-09-19-7912642)reject
the proposal from the EU on the Irish border.
While stocks in Asia climbed, U.S. stocks got off to a positive
start.
What are analysts saying?
While U.K. banks were getting a lift for now from revived
rate-hike hopes, "ambivalent implications for growth and other
consumer-led activity," could eventually weigh on those stocks,
said Ken Odeluga, market analyst at City Index, in a note.
"For now, bank shares are among sectors participating with gains
in Continental markets, though STOXX's mining-related basic
resource index is again at the front, auto and parts shares aren't
far below. Further delay before Beijing responds to Washington's
invitation could be the point on which global investor consensus
could begin to show cracks, even as the White House weighs an
ex-ante to counter-retaliate," he said.
Stock movers
Among the top decliners, Danske Bank (DANSKE.KO) dropped 4%
after CEO Thomas Borgen announced his resignation
(http://www.marketwatch.com/story/danske-bank-finds-200b-in-suspect-transactions-2018-09-19)
amid the outcome of an internal probe that money laundering was
involved in a "large portion" of more than $200 billion in
transactions from a branch in Estonia.
Adecco Group AG (ADEN.EB) slumped over 6% after the temp
staffing firm reported markedly slower growth
(http://www.marketwatch.com/story/adecco-points-to-europe-slowdown-in-3q-performance-2018-09-19)
in the third quarter for continental Europe.
On the upside, a number of mining stocks were tracking higher,
with Anglo American PLC (AAL.LN) rising 3.3%, Antofogasta PLC
(ANTO.LN) up 3% and Rio Tinto PLC (RIO.LN) (RIO.LN) gaining 2%.
In London, HSBC Holdings PLC (HSBA.LN) rose 1.3%, Royal Bank of
Scotland Group PLC (RBS.LN) (RBS.LN) jumped 2% and Barclays PLC
(BCS) (BCS) gained 1.7%.
(END) Dow Jones Newswires
September 19, 2018 09:47 ET (13:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
FTSE 100
Gráfica de índice
De Feb 2024 a Mar 2024
FTSE 100
Gráfica de índice
De Mar 2023 a Mar 2024