European stock markets struggled for direction on Tuesday before European Central Bank President Mario Draghi delivers a speech in Rome that may provide more detail about future policy.
The Stoxx Europe 600 index was marginally lower at 317.11.
France’s CAC 40 index traded 0.1% lower, Germany’s DAX 30 index gained 0.2% and the U.K.’s FTSE 100 index added 0.1%.
The UK market was supported by economic releases after an industry report showed a gauge of U.K. house prices rose to the highest in more than a decade last month. The Royal Institution of Chartered Surveyors’ house-price index increased to 58, the highest since June 2002, from 57 in October.
Data showed the UK trade deficit narrowed to £9.732 billion in October from £10.09 billion, although it came in short of estimates at £9.35 billion. Further data showed that Industrial Production gained 3.2% year-on-year while the Manufacturing Production grew 2.7% YoY, vs. forecasts at 3.2% and 2.9%, respectively.
Telecom firms were among major movers after a raft of ratings changes. Shares of Iliad SA climbed 2.2% after Deutsche Bank lifted the telecom-services provider to buy from hold. The bank also lifted Vivendi SA to buy from hold, helping send the shares 2% higher.
Shares of TeliaSonera AB dropped in Stockholm 1.7% after Deutsche Bank cut the telecom firm to sell from hold.
Also in Sweden, Tele2 AB gave up 1.2% after HSBC cut the wireless telecom company to neutral from overweight.
Telekom Austria AG slid 1.5% after J.P. Morgan Cazenove cut the firm to underweight from neutral.
Комментариев нет:
Отправить комментарий