Bulletin
Investor Alert

Europe Markets Archives | Email alerts

Jan. 15, 2019, 1:53 p.m. EST

European markets notch hard-fought gains amid China’s economic pledge

Investors were keeping one eye on Brexit vote; Italian equity market lags behind peers

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
    CAC 40 Index (PX1)
  • X
    FTSE 100 Index (UKX)

or Cancel Already have a watchlist? Log In

By Emily Horton


AFP/Getty Images

European markets finished higher Tuesday, in an up-and-down session, as Chinese government officials outlined plans to boost the country’s sluggish economy.

In the U.K., politicians were preparing to vote on Prime Minister Theresa May’s contentious agreement for leaving the European Union in March.

How are the markets trading?

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +1.58% gained 0.4% to close at 348.71, after finishing down 0.5% on Monday.

France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.49% closed 0.5% higher at 4,786.17, the U.K.’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +2.09% rose 0.6% to end at 6,895.02 and Germany’s DAX /zigman2/quotes/210223310/composite DAX +1.87% added 0.3% to 10,891.79.

Italy’s FTSE MIB /zigman2/quotes/210598024/delayed IT:I945 +1.55% lagged behind regional peers, finishing little changed, down less than 0.1% to 19,165.48.

The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.1768% dropped to $1.1388, compared with $1.1472 late Monday, and the British pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.1761% last bought $1.2732, down sharply from $1.2866, in the previous session.

What is driving the markets?

A landmark vote over May’s divisive agreement for Brexit was scheduled to take place at 10:30 p.m. local time in the U.K. on Tuesday (around 5:30 p.m. Eastern). Most expect it to be rejected soundly in the worst defeat for any U.K. prime minister in history, with more than 100 Conservative politicians currently opposed to its terms.

In China, government officials have stepped up efforts to spur economic growth amid signs the country’s economic slowdown is deepening. Beijing intends to improve credit availability for smaller companies, accelerate infrastructure investment and cut taxes.

In the event that the deal is voted down, May will have three days to come up with an alternative for exiting the European Union on March 29. However, EU leaders have insisted that the deal already agreed is the only one on offer.

Read: May in last-ditch push for Brexit deal votes — what the City of London is saying

Fresh data showed Germany’s economy slowed sharply last year, shaken by softening consumer spending at home and weakness in key export markets.

What stocks are active?

Portuguese food distributor Jeronimo Martins SGPS SA /zigman2/quotes/209185934/delayed PT:JMT -0.50% was the top gainer, adding 9%.

Italian banks were down on Tuesday, with Unione di Banche Italiane SpA /zigman2/quotes/200732627/delayed IT:UBI +4.20% dropping nearly 5% and Banco BPM SpA /zigman2/quotes/204236087/delayed IT:BAMI +4.19%  losing more than 4% after a report in an Italian newspaper that the European Central Bank reportedly asked lenders to set aside more money for by 2016.

Meanwhile, manufacturer AMS AG /zigman2/quotes/205647546/delayed CH:AMS +3.96% fell by 0.8%.

/zigman2/quotes/210599654/delayed
XX : STOXX
371.21
+5.78 +1.58%
Volume: 0.00
July 6, 2020 11:03p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,081.51
+74.37 +1.49%
Volume: 88,535
July 6, 2020 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,285.94
+128.64 +2.09%
Volume: 681,521
July 6, 2020 4:59p
loading...
/zigman2/quotes/210223310/composite
US : U.S.: Nasdaq
$ 26.98
+0.50 +1.87%
Volume: 9,439
July 6, 2020 3:43p
loading...
/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
20,031.86
+305.21 +1.55%
Volume: 0.00
July 6, 2020 5:36p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.1330
+0.0020 +0.1768%
Volume: 0.0000
July 6, 2020 8:56p
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2514
+0.0022 +0.1761%
Volume: 0.0000
July 6, 2020 8:56p
loading...
/zigman2/quotes/209185934/delayed
PT : Portugal: Euronext Lisbon
14.88
-0.08 -0.50%
Volume: 962,258
July 6, 2020 4:35p
P/E Ratio
25.78
Dividend Yield
1.39%
Market Cap
€9.41 billion
Rev. per Employee
€159,697
loading...
/zigman2/quotes/200732627/delayed
IT : Italy: Milan
3.20
+0.13 +4.20%
Volume: 11.47M
July 6, 2020 5:35p
P/E Ratio
13.85
Dividend Yield
0.00%
Market Cap
€3.49 billion
Rev. per Employee
€232,018
loading...
/zigman2/quotes/204236087/delayed
IT : Italy: Milan
1.40
+0.06 +4.19%
Volume: 30.94M
July 6, 2020 5:35p
P/E Ratio
2.68
Dividend Yield
N/A
Market Cap
€2.04 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205647546/delayed
CH : Switzerland: SWX
CHF 15.35
+0.59 +3.96%
Volume: 2.70M
July 6, 2020 5:30p
P/E Ratio
6.21
Dividend Yield
N/A
Market Cap
CHF4.00 billion
Rev. per Employee
N/A
loading...

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.