European Markets Broadly Higher Amid Easing Syria Tensions

April 17, 2018
European Markets Broadly Higher Amid Easing Syria Tensions

By Investors Hub

European stocks are broadly higher on Tuesday amid easing Syria tensions. Traders also remained optimistic about the earnings season.

While the U.K.?s FTSE 100 Index has edged up by 0.2 percent, the French CAC 40 Index is up by 0.6 percent and the German DAX Index is up by 0.9 percent.

On the data front, a government report showed U.K. wages grew faster than inflation for the first time in almost a year in February, helping cement expectations for a rate hike at the next MPC meeting in May. The jobless rate in the month ticked down to 4.2 percent from 4.3 percent previously.

Elsewhere, the German ZEW headline numbers for April showed that German economic sentiment deteriorated more than expected in April. The corresponding index dropped to -8.2 from 5.1.

Sweden’s Intrum Justitia has soared after it filed a binding bid for Intesa Sanpaolo’s debt collection unit.

Associated British Foods has also jumped as it posted three percent growth in revenue in the 24 weeks to March 3rd despite a challenging retail environment.

Ashmore Group has climbed after the emerging markets-focused asset manager reported 10 percent growth in its third-quarter assets under management.

JD Sports Fashion has also rallied after its preliminary profit before tax for the 53 weeks ended February 3rd increased by 24 percent.

Bayer has advanced after Singapore’s state investment company Temasek agreed to buy a 3.6 percent stake in the German drug maker for 3 billion euros.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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