European stock markets struggled for direction on Wednesday, with investors taking a breather after a solid rally the prior day and digesting the latest developments in the Syria conflict.
The Stoxx Europe 600 index gained 0.1% to 309.97, after closing at the highest level since May 22 on Tuesday.
Back in Europe, the country-specific indexes were mixed. The U.K.’s FTSE 100 index fell 0.24%, while France’s CAC 40 index lost 0.19% and Germany’s DAX 30 index rose 0.26%.
Shares of ARM Holdings PLC rallied 4.7% after Deutsche Bank said the chip maker will benefit from the launch of Apple Inc.’s iPhone 5S.
Southern European banks were also on the rise after J.P. Morgan Cazenove said it has become more positive on banks from the region for the first time in two years. The analysts upgraded UniCredit SpA to overweight from neutral, helping lift the shares 2.6%, and raised Intesa Sanpaolo SpA to neutral from underweight, sending the shares 1.6% higher.
Kingfisher dropped 1.6% after Europe’s biggest home-improvement retailer said first-half adjusted pretax profit fell 1.6% to 365 million pounds ($574 million). That missed the 367 million-pound average forecast of analysts.
More broadly, investors in Europe continued to monitor developments in the Syria conflict, where the risk of a military intervention has receded. U.S. President Barack Obama late Tuesday asked Congress to delay a vote on whether to authorize a strike in Syria after Russia suggested Bashar al-Assad’s government give up its chemical weapons to the international community to avert an attack.
Economic data failed to give much support. In the United Kingdom, the Claimant Count Change (August) was reported at -32.6K, beating expectations of -22.0K. Moreover, the Claimant Count Rate yielded a figure of 4.2% in August, compared to 4.3% previously. Finally, the ILO Unemployment Rate (3m) came in at 7.7% in July, also improving vs. expectations.
Комментариев нет:
Отправить комментарий