European markets end slightly higher

Wednesday, 18. May 2016 17:56

European stocks traded with modest gains on Wednesday, with a background of slightly lower oil prices.

The pan-European Stoxx 600 index rose 0.83% the Booker Group rising 5.99%. Top 100 companies on the Euronext performed 0.40% better, with STI Microelectronics adding 5.29%.

The French CAC 40 index finished up 0.47% at 4,317 points. Nokia rose 2.50% and Accor rose 2.14%. Credit Agricole, Société Générale and BNP Paribas also added over 1%. Veolia Environment fell 2.54%.

In Germany, the DAX index rose 0.55% to 9,944 points. Deutsche Bank gained 2.32% and Commerzbank rose 2.28%, while Infineon added 2.29%. ProSiebenSat.1 fell 1.08%. Automotive sector saw losses, among them Continental, BMW and Daimler.

The London's FTSE 100 inched 0.02% down to close at 6,166 points. The British economy added 44 thousand jobs in the first quarter, with the unemployment rate at 5.1%. Standard Chartered climbed up 4.12%, Barclays rose 3.74% and Lloyds was the most wanted stock and added 1.94%. Mining sector fell: Anglo American dropped 3.59, Antofagasta rolled down 2.93%. Burberry lost 2.71% after reporting a fall of 10% in full-year pre-tax profit of £421 million ($607.5 million, €545.8 million). The pound was visibly stronger, rising 1.39% against the euro and 1.03% versus the U.S. dollar by 5:50 p.m. CET.

The other FTSE, the Milan's MIB rose 1.12% to 17,695 points. Banca Popolare Emiglia Romagna jumped 7.01%, while Anima Holding lost 1.51%.

The Spanish IBEX 35 rose 0.74% to close at 8,762 points. Sniace exploded, rising almost 35%, while Quabit fell 5.72%. BBVA shares were most wanted and added 0.70%.

In Zurich, the Swiss Market Index finished up 0.85% at 7,973 points. Credit Suisse added 2.70% and UBS was up 1.84%, while LafargeHolcim rose 1.84%. Swisscom fell 0.66% and Givaudan dropped 0.26%. Swiss franc fell 1.15% against British pound.

Oil prices jumped following the EIA report on crude oil stocks in the United States: West Texas Intermediate rose 0.63% to $49.48 a barrel and Brent climbed up 0.77% to $49.75 a barrel at ICE Europe by 5:44 p.m. CET.

The euro fell 0.36% to the U.S. dollar and rose 0.14% against the Japanese yen. Gold fell 0.51%b to $1,272.43 per troy ounce.


Image: EPA / Facundo Arrizabalaga

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