Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Post-holiday catchup for Germany drives European stock gains

Published 11/06/2019, 08:30
Updated 11/06/2019, 08:40
Post-holiday catchup for Germany drives European stock gains

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 11 (Reuters) - A surge in the Frankfurt stock market as
German and Swiss investors returned from a one-day holiday drove
European shares higher on Tuesday as investors eyed Washington
closely for further bursts of protectionist rhetoric.
Optimism over President Donald Trump's decision late on
Friday to hold off on imposing import tariffs on Mexico has
lifted sentiment this week, but there were new signs that the
administration will make more threats to further its agenda in
talks with major trading partners.
Secretary of State Mike Pompeo warned on Monday that the
United States could still slap tariffs on Mexico if not enough
progress was made on its commitment to stem illegal immigration.

Europe's pan-regional STOXX 600 index .STOXX rose 0.43% by
0714 GMT, with Frankfurt's DAX .GDAXI outperforming.
Car industry shares .SXAP rose 1.6% with German auto
stocks BMW BMWG.DE , Daimler DAIGn.DE and Volkswagen AS
VOWG.DE , lifting the tariff sensitive sector.
Madrid's bank-heavy IBEX .IBEX was the only laggard, after
Morgan Stanley lowered its estimates for bank earnings in Spain
to an average 4% in 2020 and 6.5% in 2021, factoring in a
flatter yield curve as a result of the European Central Bank's
swing towards taking new steps to reduce market interest rates.
Among stocks, Hugo Boss BOSSn.DE rose 3.7% after shares of
the German fashion house were upgraded to "equal-weight" from
"underweight" by Morgan Stanley for the luxury retailer's
strategic plan to reposition the brand under two labels.

Ted Baker TED.L tumbled 26% after the fashion retailer
warned on annual profit after an "extremely difficult" start to
2019.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
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.