Bulletin
Investor Alert

New York Markets Close in:

Europe Markets Archives | Email alerts

Nov. 22, 2016, 12:43 p.m. EST

Brexit-boosted Rotork and miners lead European markets higher

French builder Vinci briefly dives after fake news release

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    STOXX Europe 600 Index (SXXP)
  • X
    Rotork PLC (ROR)
  • X
    British Pound (GBPUSD)

or Cancel Already have a watchlist? Log In

By Victor Reklaitis, MarketWatch


Shutterstock/Pack-Shot

Europe’s main equity benchmark marched higher Tuesday, helped by advances for miners and U.K. manufacturer Rotork PLC, while a fake news release rocked French builder Vinci SA.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.68%  rose 0.2% to close at 341.02, adding to the previous day’s gain of 0.3%.

Controls maker Rotork /zigman2/quotes/200372942/delayed UK:ROR +1.65%  was the index’s biggest winner, surging 13%. The mid-cap British company gave an upbeat update to its revenue guidance, citing in part tailwinds from the Brexit-battered pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.7034%  .

Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL +0.83%  , BHP Billiton  and ArcelorMittal /zigman2/quotes/209487033/delayed NL:MT +1.10%  were other big advancers within the Stoxx 600, jumping by 7.6%, 5.7% and 4.9%, respectively.

Commodities stocks moved higher as gold futures  and the global oil benchmark  rose. The gains for gold and Brent crude faded by day’s end in Europe, but miners still managed to hold higher.

“A boost higher in the oil price has helped to give market sentiment another shot in the arm and has propelled Wall Street into new high ground,” said Richard Perry, a Hantec Markets analyst, in a note .

“It will be interesting now to see if this can filter through to other markets such as the DAX, which has struggled for months around its key 10,800 resistance area,” Perry added.

The three major U.S. stock benchmarks — the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -0.46%  , Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.34%  and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.62%  — all closed at new record highs on Monday. They were working to continue their advance into record territory on Tuesday , but had pulled back from session highs

Fake release: Vinci SA /zigman2/quotes/200895814/delayed FR:DG -0.53%  finished 3.8% lower, but the French builder’s stock had been down as much as 18% following a fake news release that reportedly claimed the company’s CFO was fired following financial irregularities. The company said the fake release was published by Bloomberg, and Vinci denied “all the informations contained in this fake press release and is investigating all legal actions in furtherance thereof.”


FactSet, MarketWatch
Veni, vidi, fakery.

Other movers :Compass Group PLC /zigman2/quotes/200043088/delayed UK:CPG +1.15%  fell 4.7% after reporting results. Jefferies analyst Kean Marden told Dow Jones Newswires that sentiment was hit by a slowdown in revenue momentum — as well as the food and support services company’s echoing of French rival Sodexo SA’s /zigman2/quotes/206443022/delayed FR:SW +0.48%  message that 2017 earnings will be second-half-heavy.

Banco de Sabadell SA /zigman2/quotes/206753237/delayed ES:SAB +0.04%  closed down 4.4% after Colombian billionaire Jaime Gilinski sold a 3% stake in the Spanish bank, and investors reportedly worried he could sell more.

National indexes: Germany’s DAX 30 /zigman2/quotes/210597999/delayed DX:DAX +0.82%  rallied 0.3% to end at 10,713.85, while France’s CAC 40 index /zigman2/quotes/210597958/delayed FR:PX1 +0.91%  gained 0.4% to close at 4,548.35.

The U.K.’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.62% rose 0.6% to end at 6,819.72, boosted by the advance by miners.

The euro /zigman2/quotes/210561242/realtime/sampled EURUSD -0.1994% was down modestly, trading hands at $1.0627.

Click to Play

Donald Trump outlines his plans in a video message

President-elect Donald Trump released a video statement on YouTube Monday outlining his agenda for his first 100 days in office. Trump has yet to hold a press conference since the election.

/zigman2/quotes/210599654/delayed
XX : STOXX
439.63
+2.99 +0.68%
Volume: 0.00
April 22, 2021 5:50p
loading...
/zigman2/quotes/200372942/delayed
UK : U.K.: London
358.00 p
+5.80 +1.65%
Volume: 1.06M
April 22, 2021 4:35p
P/E Ratio
33.49
Dividend Yield
1.76%
Market Cap
£3.08 billion
Rev. per Employee
£177,807
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.3834
-0.0098 -0.7034%
Volume: 0.0000
April 22, 2021 1:31p
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
3,094.00 p
+25.50 +0.83%
Volume: 2.42M
April 22, 2021 4:35p
P/E Ratio
24.03
Dividend Yield
2.32%
Market Cap
£37.87 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209487033/delayed
NL : Netherlands: Euronext Amsterdam
24.40
+0.27 +1.10%
Volume: 3.28M
April 22, 2021 5:39p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€25.43 billion
Rev. per Employee
€278,576
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,154.03
-19.39 -0.46%
Volume: 1.27B
April 22, 2021 1:31p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
13,902.99
-47.23 -0.34%
Volume: 2.45M
April 22, 2021 1:31p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,924.80
-212.51 -0.62%
Volume: 176.81M
April 22, 2021 1:31p
loading...
/zigman2/quotes/200895814/delayed
FR : France: Euronext Paris
86.96
-0.46 -0.53%
Volume: 1.48M
April 22, 2021 5:35p
P/E Ratio
39.43
Dividend Yield
2.35%
Market Cap
€49.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200043088/delayed
UK : U.K.: London
1,580.00 p
+18.00 +1.15%
Volume: 1.77M
April 22, 2021 4:35p
P/E Ratio
139.21
Dividend Yield
0.00%
Market Cap
£27.86 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206443022/delayed
FR : France: Euronext Paris
83.42
+0.40 +0.48%
Volume: 363,346
April 22, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€12.12 billion
Rev. per Employee
€45,707
loading...
/zigman2/quotes/206753237/delayed
ES : Spain: Madrid
0.46
+0.0002 +0.04%
Volume: 27.15M
April 22, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€2.55 billion
Rev. per Employee
€281,406
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,320.52
+124.55 +0.82%
Volume: 59,628
April 22, 2021 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,267.28
+56.73 +0.91%
Volume: 67,091
April 22, 2021 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,938.24
+42.95 +0.62%
Volume: 625,987
April 22, 2021 4:59p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.2012
-0.0024 -0.1994%
Volume: 0.0000
April 22, 2021 1:31p
loading...

Victor Reklaitis is a London-based markets writer for MarketWatch. Follow him on Twitter @VicRek.

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.