As it stated in [LONDON] European shares gained on Monday as mining stocks touched a 2-1/2-year high on rising copper prices and mergers and acquisitions continued to drive shares, with takeover offers sending German drugmaker Stada to a record high.
The pan-European Stoxx 600 index rose 0.8 per cent, after earlier touching its highest level since Dec 2015.
Its shares fell 3.1 per cent after its quarterly operating profit and its dividend proposal fell short of expectations.
Italy’s newly merged Banco BPM was the second-top European riser after its results, up 6.7 per cent.
Renault benefited from an upgrade from top-rated Jefferies analyst, up 4.4 per cent, and peer Peugeot gained 3.1 per cent, while French mid-cap auto parts company Faurecia gained 3.9 per cent.
Europe: Shares slip as pull-back in banks, miners weighs, Stocks
referring to The pan-European Stoxx 600 index ended down 0.1 per cent after hitting a 14-month high in the previous session.
[LONDON] European shares fell slightly on Thursday, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings.
Some analysts flagged concerns over the sustainability of the bank’s capital level in relation to the accounting treatment of its British pension scheme.
Around 55 per cent companies in the Stoxx 600 have reported fourth quarter results so far, of which 56 per cent have met and 3 per cent have beaten analyst forecasts.
French water and waste group Veolia dropped 5.8 per cent after pushing back its forecast for core earnings by a year.
Europe: Shares close at three-week low as banks, miners wobble, Stocks
referring to [LONDON] European shares dropped on Friday with banks and miners falling as a raft of disappointing earnings updates and political worries dented sentiment.
German stocks were also hit by political worries, with the blue chip DAX dropping 1.2 per cent as bond market jitters hit equities.
This followed disappointing results from UK heavyweights Standard Chartered and Royal Bank of Scotland, and further weakness among Italian and French banks.
On the positive side, Ingenico was the biggest gainer on the STOXX, up 7.2 per cent, after a well-received earnings update.
The STOXX 600 was down 0.8 per cent at its close, erasing gains made earlier in the week and snapping a two-week winning streak.
collected by :Tod Hinery