Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

European stocks flat as focus shifts to c.bank meetings, H&M surges

Published 15/09/2020, 08:38
© Reuters.
STLAM
-
PEUP
-
HMb
-
SXRP
-
STOXX
-
SXPP
-
SXTP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 15 (Reuters) - European stocks struggled for direction
on Tuesday, with banking shares declining ahead of the U.S. and
UK central bank meetings this week, while Sweden's H&M surged
after reporting a better-than-expected profit.
The pan-European STOXX 600 index .STOXX rose just 0.1% by
0723 GMT, with retailers .SXRP , miners .SXPP and travel
stocks .SXTP leading the gains.
The world's second-biggest fashion retailer HMb.ST surged
12% after its preliminary quarterly profit was better than
expected and it signalled a better recovery from the pandemic's
impact, boosting other retail stocks. Fiat Chrysler FCHA.MI rose 6% and Peugeot maker PSA
PEUP.PA slipped 1% after the carmakers restructured the terms
of their planned merger to conserve cash. Asian shares rose after data showed China's industrial
output accelerated the most in eight months in August, while
retail sales grew for the first time this year, suggesting its
economic recovery was gathering pace. MKTS/GLOB

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.