Latest news with #EuropeanShares
Zawya
11 hours ago
- Business
- Zawya
European shares rebound as worries of US involvement in Middle East ease
European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks gained the most, up 1.1%, as oil prices eased. Conversely, energy shares were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Reuters
11 hours ago
- Business
- Reuters
European shares rebound as worries of US involvement in Middle East ease
June 20 (Reuters) - European shares rebounded on Friday after three sessions of declines, as a stall in the United States' involvement in the Middle East conflict came as a relief to worried investors. The pan-European STOXX 600 (.STOXX), opens new tab was up 0.4% at 537.98 points at 0708 GMT. The benchmark is on track to log weekly declines for a second week. Israel and Iran's air war entered a second week and European officials sought to draw Tehran back to the negotiating table after President Donald Trump said any decision on potential U.S. involvement would be made within two weeks. The news improved market mood and helped recover some interest in risk assets that were being sold off during the week on uncertainty around how long the conflict would go on. In the market, travel and leisure stocks (.SXTP), opens new tab gained the most, up 1.1%, as oil prices eased. Conversely, energy shares (.SXEP), opens new tab were at the bottom of the index with a 0.7% decline, trimming some gains from this week. Among stocks, London's Berkeley (BKGH.L), opens new tab was the biggest percentage decliner, down 8%. The homebuilder named current finance chief Richard Stern as its new CEO, but reported an annual pre-tax profit slightly ahead of market expectations.
Irish Times
a day ago
- Business
- Irish Times
European shares hit one-month low amid rising Middle East tensions
Escalating tensions in the and fears over potential US involvement in the region led to European shares falling to its lowest point since early May. S&P 500 futures fell 0.5 per cent despite US markets remaining closed on Thursday for a public holiday. DUBLIN The Iseq All-Share index ended the session down 1.96 per cent to 11,172.87, with losses led by Kenmare Resources. READ MORE Kenmare Resources fell 21.12 per cent to €3.66 following news it had walked away from takeover talks with its former managing director Michael Carvill and an Abu Dhabi private equity firm. The consortium made it clear it would only be willing to proceed with a bid that was below its initial £473 million (€553 million) proposal. Shares in the titanium minerals miner returned to near the levels the stock was trading at before news of the bid. Middle East uncertainty saw most Dublin-listed stocks close in the red, with just Irish Ferries owner Irish Continental Group, up 0.37 per cent, and Agriculture group Origin Enterprises, up 0.82 per cent, improving on the day. Gains made on Wednesday by airliner Ryanair on the back of a drop in oil prices were wiped out, and the share 2.63 per cent to €22.97 on Thursday as oil prices rose. In banking stocks, AIB fell 1.91 per cent to €6.70, and Bank of Ireland tumbled 2.40 per cent to €11.61. LONDON The FTSE 100 closed lower on Thursday amid ongoing Middle East concerns, after the Bank of England left interest rates unchanged at 4.25 per cent and policymakers said trade policy uncertainty would continue to hurt the economy, triggering a drop in the pound. The FTSE 100 index closed down 0.6 per cent at 8,791.80, with the mid-cap FTSE 250 ending down 1.0 per cent, at 21,073.99. Oil rose again amid concerns the situation in the Middle East could worsen. That boosted oil majors and FTSE 100 heavyweights BP and Shell, which rose 1.4 per cent and 1.1 per cent respectively. British Airways owner IAG, however, fell 3.2 per cent and low-cost airline EasyJet, was down 3 per cent at close, on concerns of rising fuel costs and travel disruption. Similarly, fears that the Middle East conflict will lead to higher inflation and slower economic growth weighed on mining stocks. Anglo American fell 3.3 per cent, Antofagasta declined 3.4 per cent and Rio Tinto dipped 2.5 per cent. Whitbread fell 1.6 per cent after reporting total group sales fell by 3.8 per cent in its first quarter. On the FTSE 250, Hays plunged 10 per cent after saying it expects annual profit to be below market consensus, as the staffing firm grapples with challenging market conditions. Shares fell in other recruitment businesses, PageGroup, down 8.8 per cent, and Robert Walters, which dropped 4.8 per cent. European recruiting shared similarly fell. EUROPE The pan-European Stoxx 600 closed down for the third consecutive day with a 0.8 per cent drop to its lowest level since May 9. US President Donald Trump kept markets guessing about American involvement in air strikes on Tehran, though markets were hopeful of potential de-escalation of tensions over upcoming EU and US talks with Iran. Much of the recent nervousness has been in markets centred around crude oil supply shocks, triggered by tensions in the oil-rich Middle East. Oil prices rose on the day and boosted the energy sector by 0.8 per cent, emerging as the session's top performer. Healthcare and utilities were the only other sectors in the green. Conversely, travel and leisure stocks led broader declines and finished 2.3 per cent lower, taking a hit from the soaring oil prices. Among stocks, Stora Enso jumped 14.7 per cent to top the Stoxx 600 after the Finnish forestry group said it was initiating a strategic review of its Swedish forest assets. – Additional reporting, Reuters, PA.
Reuters
2 days ago
- Business
- Reuters
European shares steady ahead of Fed decision; Middle East in focus
June 18 (Reuters) - European shares were subdued on Wednesday ahead of the U.S. Federal Reserve's monetary policy decision, while persisting Middle East tensions also kept investors on edge. The pan-European STOXX 600 index (.STOXX), opens new tab was steady at 541.98 points, as of 0705 GMT. Investors awaited the Fed's monetary policy meeting, where interest rates are widely expected to remain unchanged, while comments from policymakers will be closely monitored to gauge how the U.S. central bank intends to navigate an uncertain trade environment. U.S. President Donald Trump's shifting tariff policy has caused turmoil in financial markets in recent months, with little progress on trade deals as the July 8 pause deadline approaches. Adding to this uncertainty were tensions between Iran and Israel, after they launched new missile strikes at each other despite Trump calling for Tehran's "unconditional surrender". In the regional market, the insurance sector (.SXIP), opens new tab and construction and material (.SXOP), opens new tab stocks led the gains, though overall advances were tempered by declines in heavyweight healthcare shares. Among stocks, Airbus ( opens new tab gained 1.7% after the planemaker raised the upper range of its dividend payout target ahead of a business update. Data showed that British inflation eased as expected in May, but is unlikely to influence the central bank's decision later this week.
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
European shares inch up after previous week's decline, Kering jumps
The pan-European STOXX 600 was up 0.3% at 546.37 points. (AFP pic) FRANKFURT : European shares edged higher today, rebounding from last week's losses, as investors shook off jitters stemming from escalating geopolitical tensions in the Middle East, while Kering soared after a report that it could tap Renault's top boss. The pan-European STOXX 600 was up 0.3% at 546.37 points at 8.45am. Gucci parent Kering jumped 10.2%, among the biggest percentage gainers, after a report said Luca de Meo could become the new CEO, having previously turned around troubled Renault. Shares of the French automaker fell 2.6%, to the lowest rungs of the index. A separate report said Tokyo's Nissan planned to reduce its stake in Renault. Ladbrokes owner Entain also jumped 10% after its US sports-betting joint venture with MGM Resorts- BetMGM – raised its annual revenue and core earnings forecast. The travel and leisure sector rose 1.9%, leading sectoral gains. 'We still have European equities hovering around highs… the equity market been very positive in its assessment of what's going to happen (tariffs and growth policies) and there a lot of positivity baked into the European stocks at the moment,' said Jacob Pederson, head of equity research at Sydbank. Conversely, heavyweight healthcare stocks fell 0.8%, leading sectoral declines, after posting gains in the last five weeks. Geopolitical tensions continued to dominate headlines as the conflict between Israel and Iran showed no signs of cooling. Iranian missiles struck Israel's Tel Aviv and the port city of Haifa before dawn today, in the latest series of tit-for-tat attacks that started last week. The escalating tensions give markets another cause of worry as they were already grappling with the ramifications of a changing US tariff policy. 'Geopolitics will have an impact on Europe, but today is just a rebound after a couple of rough days,' said Pederson. The benchmark index logged a weekly decline on Friday as tensions in the Middle East ramped up and a US trade truce with China offered little clarity on how the longstanding trade differences between them could be solved. This week, the monetary policy meetings of the Bank of England and the US Federal Reserve will be watched for insights on how the central banks plan to navigate US tariff-driven uncertainty. Additionally, any clues on tariffs from the Group of Seven meeting in Canada will also be scrutinised. Among other stocks, London's Spectris gained 5.9% after the scientific instruments maker rejected a second takeover proposal from private equity firm KKR on Friday. Symrise fell 3.2% after Jefferies downgraded the stock to 'underperform' from 'hold'.
