collected by :Tod Hinery
referring to[LONDON] European shares steadied near a 14-month high on Thursday, with a rally in stocks of companies like Barclays and RSA following their positive updates offsetting some weaker firms including Technicolor and Veolia.
Barclays shares rose more than 3 per cent after the British bank reported a surprise increase in its core capital ratio as it took advantage of its rising profits.
Insurer RSA was up 5 per cent after posting a 25 per cent rise in 2016 operating profit and raising its target for return on equity.
A slew of companies weakened after reporting poor results, negating some positive share moves.
Technicolor fell more than 6 per cent, the biggest decliner in the STOXX 600 index, after the French media and entertainment company reported a net loss, while French water and waste group Veolia was down 4.9 per cent after pushing back its forecast for core earnings by a year.
as mentioned in[MILAN] European shares rose on Monday, helped by stronger telecoms and mining stocks, but a slump in Unilever following Kraft Heinz’s withdrawal of a US$143 billion takeover bid weighed on the broader market.
A surge in merger and acquisition activity has also contributed to the recent rally in European shares.
According to analysts at Societe Generale, Unilever should consider a big share buyback or make a strategic acquisition.
Germany’s DAX outperformed its European peers, gaining 0.6 per cent as Italian and French shares dipped.
Backed by Warren Buffett, Kraft had wanted to buy its bigger rival but its offer was flatly rejected on Friday by Unilever.
as mentioned in
Europe: Shares enjoy best weekly gains of 2017, French banks up, Stocks[LONDON] European shares posted their best weekly gains of 2017 of Friday, although they were down on the day following disappointing company updates.
European stocks pulled back slightly ahead of appearances by Fed Chair Janet Yellen and Vice Chair Stanley Fischer.
It was one of only three euro zone banking index stocks in the red on the day.
French stocks performed better after a poll eased anxieties over the impact on markets of the presidential election.
Italy’s banking index posted its best weekly gain since December 2011, up 13 per cent since Monday’s open.