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Jan. 30, 2019, 8:31 a.m. EST

European markets tick up as investors await trade talks

German bourse lags broader market

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By Emily Horton


Getty Images
Siemens gas turbine factory pictured March 2, 2017 in Berlin, Germany.

Europe’s major markets were largely up Wednesday, as investors awaited the renewal of U.S./China trade talks and the outcome of the latest Federal Open Market Committee meeting.

Heavyweight miners were rising.

How did markets perform?

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +1.47%  rose slightly on Wednesday, adding 0.3% to 358.39, after finishing up 0.8% on Tuesday.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +2.70% rallied 1.8% to reach 6,957.10, gaining along with the British pound after a series of Brexit votes Tuesday night.

France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.26% added 0.7% to 4,964.85, Italy’s FTSE MIB Italy index /zigman2/quotes/210598024/delayed IT:I945 +1.35% rose by 0.2% to 19,742.97.

Germany’s DAX 30 /zigman2/quotes/210223310/composite DAX +1.28% lagged behind the rest of Europe’s major indexes, losing 0.2% to 11,201.19.

The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.7368% remained mostly unchanged, fetching $1.1422. Meanwhile, the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.6702% regained some lost ground to $1.3075; it had dropped on Tuesday night after U.K. parliament voted down a series of Brexit-deal amendments.

What drove the markets?

In the U.S., the latest Federal Open Market Committee meeting will conclude on Wednesday. Although the Fed is expected to leave its short-term interest rate unchanged, the nuances of a press conference by chairman Jerome Powell will be closely watched.

Trade talks are also set to resume between Chinese and U.S. officials in Washington.

French growth slowed in the fourth quarter as anti-government protests hit business activity, but German consumer sentiment is set to improve in February.

British lawmakers on Tuesday rejected proposals from pro-European MPs to delay Brexit, but narrowly backed a broad declaration that the government should not leave the EU without a deal in place. Prime Minister Theresa May now has the green light to return to Brussels to seek further changes to the Irish border agreement, a topic the EU has repeatedly said isn’t open for negotiation.

Earnings optimism was setting up for a strong rally on Wall Street, led by gains for Apple Inc. /zigman2/quotes/202934861/composite AAPL +0.12%  and Boeing Co. /zigman2/quotes/208579720/composite BA +5.30%  after well-received earnings reports. That optimism also fed over to London and European markets.

What shares were active?

Miners Rio Tinto PLC /zigman2/quotes/208934945/delayed UK:RIO +3.42% and BHP PLC /zigman2/quotes/203323256/delayed UK:BHP +3.88% gained over 2% and Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN +5.94%  added 3.7%. Fresnillo PLC /zigman2/quotes/201300065/delayed UK:FRES +7.71% was up by 1.6%. Glencore PLC added just under 3%.

Royal KPN NV /zigman2/quotes/208133897/delayed UK:0O8F +1.92%  lost around 2% on the news the telecommunications company had swung into a loss in the fourth quarter.

Siemens AG /zigman2/quotes/200873563/delayed DE:SIE -1.41% announced a sharp fall in its earnings on Wednesday, dragging shares in the company down by 1%.

Spain’s Banco Santander SA /zigman2/quotes/205677933/delayed ES:SAN +0.05% lost 1%, despite the bank beating its net profit expectations for Q4.

/zigman2/quotes/210599654/delayed
XX : STOXX
331.47
+4.80 +1.47%
Volume: 0.00
April 9, 2020 4:41p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
5,830.77
+153.04 +2.70%
Volume: 829,705
April 9, 2020 3:41p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
4,498.64
+55.89 +1.26%
Volume: 76,321
April 9, 2020 4:41p
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/zigman2/quotes/210598024/delayed
IT : Borsa Italiana
17,615.40
+234.58 +1.35%
Volume: 0.00
April 9, 2020 4:41p
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/zigman2/quotes/210223310/composite
US : U.S.: Nasdaq
$ 21.80
+0.28 +1.28%
Volume: 2,760
April 9, 2020 10:54a
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/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0938
+0.0080 +0.7368%
Volume: 0.0000
April 9, 2020 10:56a
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/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2467
+0.0083 +0.6702%
Volume: 0.0000
April 9, 2020 10:56a
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 266.38
+0.31 +0.12%
Volume: 13.32M
April 9, 2020 10:56a
P/E Ratio
21.07
Dividend Yield
1.15%
Market Cap
$1164.18 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 154.66
+7.79 +5.30%
Volume: 13.00M
April 9, 2020 10:56a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$82.87 billion
Rev. per Employee
$660,961
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
3,823.50 p
+126.50 +3.42%
Volume: 2.31M
April 9, 2020 3:41p
P/E Ratio
10.01
Dividend Yield
9.17%
Market Cap
£60.07 billion
Rev. per Employee
N/A
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/zigman2/quotes/203323256/delayed
UK : U.K.: London
1,326.40 p
+49.60 +3.88%
Volume: 4.38M
April 9, 2020 3:41p
P/E Ratio
9.11
Dividend Yield
8.49%
Market Cap
£64.56 billion
Rev. per Employee
N/A
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/zigman2/quotes/201400686/delayed
UK : U.K.: London
145.46 p
+8.16 +5.94%
Volume: 30.51M
April 9, 2020 3:41p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£18.12 billion
Rev. per Employee
£1.04M
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
707.00 p
+50.60 +7.71%
Volume: 794,956
April 9, 2020 3:41p
P/E Ratio
32.45
Dividend Yield
1.65%
Market Cap
£4.84 billion
Rev. per Employee
N/A
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/zigman2/quotes/208133897/delayed
UK : U.K.: London
2.20
+0.04 +1.92%
Volume: 375,000
April 9, 2020 8:00a
P/E Ratio
15.04
Dividend Yield
5.68%
Market Cap
€9.27 billion
Rev. per Employee
€453,141
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/zigman2/quotes/200873563/delayed
DE : Germany: Frankfurt
80.94
-1.16 -1.41%
Volume: 12,714
April 9, 2020 4:28p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€219,884
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/zigman2/quotes/205677933/delayed
ES : Spain: Madrid
2.22
+0.0010 +0.05%
Volume: 42.32M
April 9, 2020 4:41p
P/E Ratio
6.13
Dividend Yield
3.66%
Market Cap
€36.78 billion
Rev. per Employee
€374,762
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