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Jan. 29, 2019, 9:24 a.m. EST

Earnings news helps support gains for European markets

London rallies as investors await series of Brexit-related votes

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By Emily Horton


Bloomberg
The Royal Philips NV logo sits on the company's headquarters in Amsterdam, Netherlands, on Tuesday, Jan. 30, 2018.

European markets were mostly in the green on Tuesday, as investors picked up shares of consumer stocks, and a series of positive announcements from technology and metal companies helped hoist the main index up.

How did markets perform?

Nearly all of Europe’s major indexes were in the green on Tuesday, with the Stoxx Europe /zigman2/quotes/210599654/delayed XX:SXXP -0.10%  up 1% to 357.94, all but reversing a loss of nearly 1% on Monday.

France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.42% surged 1.1% to 4,945.19 and the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.20% rose 1.4% to reach 6,840.84.

Germany’s DAX 30 /zigman2/quotes/210223310/composite DAX +1.11% and Italy’s FTSE MIB Italy index /zigman2/quotes/210598024/delayed IT:I945 -0.23%  , lagged behind, with gains of 0.2% and 0.8%, respectively.

The euro /zigman2/quotes/210561242/realtime/sampled EURUSD 0.0000% slipped Tuesday, fetching $1.1421 from $1.1429 late in New York on Monday.

The British /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.3569% pound rose to $1.3555 from $1.3157 seen in late trading in New York on Friday.

What drove the markets?

The trade relationship between the U.S. and China was under pressure again on Tuesday, after the Trump administration revealed a series of criminal charges against telecom giant Huawei Technologies Co /zigman2/quotes/208254801/delayed CN:002502 -1.38% .

Nervousness over trade issues can draw investors to perceived safe-haven plays such as consumer stocks, with Unilever PLC /zigman2/quotes/205449809/delayed UK:ULVR +0.95%  up 1.7% and Reckitt Benckiser Group PLC  adding 1.6%.

In economic news, European Central Bank President Mario Draghi, told European lawmakers in Brussels on Monday that the central bank is open to resuming quantitative-easing if needed, The Wall Street Journal reported .

In the U.K., the parliamentary debate and vote over the changes British lawmakers want Prime Minister Theresa May to add to her Brexit deal will begin on Tuesday.

Read: British pound slightly higher ahead of expected volatile Brexit trading

What shares were active?

Koninklijke Philips NV ADR /zigman2/quotes/204604645/delayed NL:PHIA -0.22% jumped 3.4% after the tech company announced the start of a new $1.71 billion share-buyback program.

SSAB AB /zigman2/quotes/206322312/delayed SE:SSAB.B -0.20% gained 5% after that the Swedish steelmaker said the near-term outlook was relatively good for business.

Within health-care stocks, Siemens Healthineers AG /zigman2/quotes/204487161/delayed DE:SHL +2.95%  fell 2.7% on the news of a profit rise.

Meanwhile, Royal Mail PLC /zigman2/quotes/204213037/delayed UK:RMG +1.15% slumped 11%, after investors were unimpressed by the postal service company’s lackluster results.

Norwegian Air Shuttle ASA /zigman2/quotes/204014691/delayed NO:NAS +3.57% lost 12% after the airline reportedly announced a $355 million rights issue and disclosed a deepening annual loss.

And shares of German business software group SAP AG /zigman2/quotes/203458330/delayed DE:SAP -0.31%   /zigman2/quotes/207905606/composite SAP -0.09%  were down 2% after the company reported a drop in fourth-quarter revenue and said it will restructure for the first time in four years, with 4,400 jobs affected.

he financial services provider Hargreaves Lansdown PLC announced its assets had dropped by 6% on Tuesday, Reuters reported , leading to a 6% decline in its share price.

/zigman2/quotes/210599654/delayed
XX : STOXX
393.08
-0.38 -0.10%
Volume: 0.00
Oct. 17, 2019 5:50p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,673.07
-23.83 -0.42%
Volume: 88,695
Oct. 17, 2019 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,182.32
+14.37 +0.20%
Volume: 1.09M
Oct. 17, 2019 4:59p
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/zigman2/quotes/210223310/composite
US : U.S.: Nasdaq
$ 26.90
+0.30 +1.11%
Volume: 529.00
Oct. 17, 2019 11:02a
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/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
22,375.67
-52.42 -0.23%
Volume: 0.00
Oct. 17, 2019 5:36p
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/zigman2/quotes/210561242/realtime/sampled
US : Tullet Prebon
1.1124
0.0000 0.0000%
Volume: 0.0000
Oct. 18, 2019 12:41a
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/zigman2/quotes/210561263/realtime/sampled
US : Tullet Prebon
1.2844
-0.0046 -0.3569%
Volume: 0.0000
Oct. 18, 2019 12:41a
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/zigman2/quotes/208254801/delayed
CN : China: Shenzhen
¥ 2.85
-0.04 -1.38%
Volume: 3.62M
Oct. 18, 2019 11:29a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥2.48 billion
Rev. per Employee
¥790,420
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/zigman2/quotes/205449809/delayed
UK : U.K.: London
4,652.50 p
+44.00 +0.95%
Volume: 2.69M
Oct. 17, 2019 4:35p
P/E Ratio
14.95
Dividend Yield
3.01%
Market Cap
£120.44 billion
Rev. per Employee
N/A
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/zigman2/quotes/204604645/delayed
NL : Netherlands: Euronext Amsterdam
39.07
-0.09 -0.22%
Volume: 2.67M
Oct. 18, 2019 3:00a
P/E Ratio
26.48
Dividend Yield
2.18%
Market Cap
€35.33 billion
Rev. per Employee
€234,121
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/zigman2/quotes/206322312/delayed
SE : Sweden: Stockholm
kr 25.33
-0.05 -0.20%
Volume: 2.44M
Oct. 17, 2019 5:29p
P/E Ratio
6.75
Dividend Yield
5.92%
Market Cap
kr26.14 billion
Rev. per Employee
kr5.24M
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/zigman2/quotes/204487161/delayed
DE : Germany: Frankfurt
36.47
+1.05 +2.95%
Volume: 2,685
Oct. 17, 2019 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€270,620
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/zigman2/quotes/204213037/delayed
UK : U.K.: London
219.20 p
+2.50 +1.15%
Volume: 5.27M
Oct. 17, 2019 4:35p
P/E Ratio
12.53
Dividend Yield
N/A
Market Cap
£2.17 billion
Rev. per Employee
£63,484
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/zigman2/quotes/204014691/delayed
NO : Norway: Oslo
kr 34.85
+1.20 +3.57%
Volume: 2.55M
Oct. 17, 2019 4:25p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
kr4.59 billion
Rev. per Employee
kr4.95M
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/zigman2/quotes/203458330/delayed
DE : Germany: Frankfurt
116.24
-0.36 -0.31%
Volume: 1,799
Oct. 17, 2019 8:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€256,047
loading...
/zigman2/quotes/207905606/composite
US : U.S.: NYSE
$ 128.60
-0.12 -0.09%
Volume: 972,178
Oct. 17, 2019 6:30p
P/E Ratio
43.05
Dividend Yield
0.94%
Market Cap
$153.64 billion
Rev. per Employee
$302,071
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