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European shares rise as retailers, defensive stocks gain

Published 20/09/2019, 08:37
© Reuters.  European shares rise as retailers, defensive stocks gain
GBP/USD
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UK100
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CASP
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SXRP
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STOXX
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SX6P
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SX3P
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SXDP
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SX86P
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Sept 20 (Reuters) - European shares opened higher on Friday,

set for their fifth straight week of gains, with the retail

sector outperforming and investors rotating into defensive

stocks.

The European retail sector .SXRP jumped 0.8%, the most

among the main sub-sectors, powered by a 2.7% gain in Casino

CASP.PA after the debt-laden French retailer said it was in

talks to sell its discount store chain Leader Price to German

rival Aldi. The healthcare .SXDP , utilities .SX6P , real-estate

.SX86P and food and beverage .SX3P sectors - commonly

considered defensive - posted some of the biggest gains.

The pan-European STOXX 600 index .STOXX rose 0.1%, with

London's FTSE 100 .FTSE underperforming.

The FTSE lagged its regional peers as British exporters were

hurt by a rally in the pound GBP= after European Commission

President Jean-Claude Juncker raised hopes of Britain exiting

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