European markets end session with gains

Tuesday, 24. May 2016 17:56

Even though trading in Europe started with losses on Tuesday, stocks turned higher towards the closing bell. The leading sectors were banking and insurance. The DAX rose 2.33% to 10,071.94 points. The highest growth was achieved by Volkswagen stocks, which added almost 4%, followed with Bayer AG’s rise of 3.57%. Shares with the weakest performance were Lufthansa, which grew just 0.64% and Adidas, with a rise of 0.92%.

The French CAC 40 was 2.54% up at 4,435.09 points. The winners were from the banking and insurance sector: Societe Generale, up 5.36%, Axa, rising 4.72%, BNP Paribas, climbing 4.06%, and Credit Agricole, which advanced 3.54%. The smallest growth was recorded for construction and telecom company Bouygues, which rose almost 1%. It was followed by communication operator Orange, 1.1% in the green, and leader in optical products Essilor, which grew 1.35%.

The FTSE 100 rose 1.35%, led by Tesco’s increase of 6.81%. The biggest loser was silver and gold producer Fresnillo, declining 3.34%, followed by mining company Randgold Resources Ltd., which lost 3.21%.

The Italian FTSE MIB grew 3.34% to 17,903.19 points. The biggest winners were banks, with Banca Monte dei Paschi di Siena rising 10.51%, Banca Popolare dell’Emilia Romagna soaring 7.88%, Mediobanca with 6.08% in positive territory, and Unicredit, rallying 4.87%. The only declining share in the index was Telecom Italia, with a drop of 2.35%.

The Swiss Market Index increased 1.08% to 8,125.24 points. Winners were also from the banking and insurance sector: Julius Baer was 3.52% up, Swiss life Holding grew 3.17% and Zurich Insurance rose 2.11%. The power and automation technologies company ABB Ltd. finished flat. WTI was 1.08% up at $48.67 per barrel while the benchmark contract for Brent increased 0.72% to $48.74 per barrel at 5:41 p.m. CET.

The euro was 0.55% down against the dollar, 1.55% against the sterling and 0.25% against franc at 5:29 p.m. CET.

 

Image: EPA / Frank Rumpenhorst

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Breaking the News / DN