European stock markets partly recovered on Tuesday from the worst day in three weeks, after data showed German business confidence inched little up in September, although to a lower level than expected.
The Stoxx Europe 600 index gained 0.1% to 312.80, after closing with the biggest one-day loss in September on Monday.
In Europe, France’s CAC 40 index gained 0.44%, while the U.K.’s FTSE 100 index added 0.19% and Germany’s DAX 30 index put on 0.2%.
More broadly, the markets briefly pared their gains after data showed German business confidence rose for a fifth straight month in September, but fell short of analysts expectations. The Ifo business-climate index rose to 107.7 from a revised figure of 107.6 in August, slightly below expectations of a 108.0 print.
Shares of Total SA climbed 1.7% after Barclays lifted the oil giant to equal weight from underweight.
Shares of Telecom Italia SpA added 2.1% and Telefonica SA fell 0.7% after the two companies reached a deal to allow the Spanish firm to take control over Telco, which is the largest shareholder in the Italian telecom firm.
On a more downbeat note, shares of Stora Enso Oyj lost 1.5% after Credit Suisse cut the pulp-and-paper firm to neutral from outperform on valuation grounds.
Burckhardt tumbled 7.1% after saying that lower-than-expected gross margins on two major compressor-system projects will lead the company to make provisions in the six months through September.
Комментариев нет:
Отправить комментарий