Thu Aug 18 2016
Eric Whitman (223 articles)

Europe : Shares snap losing streak, financials and industrial firmer

LONDON : European shares rose on Thursday to break off from a losing streak suffered at the start of the week, with gains in leading financials and industrial stocks helping to lift the market.

The pan-European STOXX 600 index, which had fallen in the last four sessions, was up 0.5 percent in early trading. This index is down about 7 percent so far this year.

Shares in Danish wind turbine maker Vestas Wind surged 12 percent after Vestas posted a stronger-than-expected second-quarter operating profit and lifted its forecasts for 2016.

Dutch insurer NN Group also climbed 5.6 percent after the company posted a drop in earnings that was not as bad as many analysts had feared, helping lift other financial stocks in the region.

Wall Street rallied overnight, helping Asian stocks higher earlier in the day, after minutes from the latest U.S Federal Reserve meeting showed U.S. policy committee members opposed to a near-term rate hike outnumbered those who wanted one.

Eric Whitman

Eric Whitman

Eric Whitman is our Senior Correspondent who has been reporting on Stock Market for last 5+ years. He handles news for UK and Europe. He is based in London


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