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Nov. 5, 2019, 5:14 a.m. EST

European stocks trade near four-year highs

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By Steve Goldstein, MarketWatch


LightRocket via Getty Images
Primark store on London's Oxford Street.

European stocks traded near four-year highs on Tuesday, with market attention still focused on the prospect of a U.S.-China trade deal.

After closing Monday at the highest level since Aug. 5, 2015, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -3.67%  increased 0.02% to 403.50.

The German DAX /zigman2/quotes/210597999/delayed DX:DAX -4.15%  rose 0.14% to 13154.21, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -4.75%  added 0.05% to 5827.39 and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -3.64%  rose 0.41% to 7399.87.

The S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27%  on Monday finished at a record high on hopes for a trade deal. U.S. officials are considering removing tariffs on $112 billion-worth of Chinese goods as a concession to seal a “phase one” trade deal, the Financial Times reported late on Monday. The 15% tariffs on items such as clothing, appliances and flat-screen monitors were put into effect on Sept. 1. U.S. stock futures /zigman2/quotes/209948968/delayed ES00 -2.55%  edged higher on Tuesday.

Meanwhile European earnings season continues, with results through Monday on track for a 4.6% year-on-year decline in the third quarter, according to Morgan Stanley.

Associated British Foods /zigman2/quotes/204493701/delayed UK:ABF -2.99%  rose 5% as the company reported a 2% rise in adjusted pretax profit for the year and said operating margins at its fast fashion retailer Primark will have a small drop. The U.S. expansion of Primark will continue as the company has signed a lease in Philadelphia.

Siemens Gamesa Renewable Energy /zigman2/quotes/205820667/delayed ES:SGRE +3.54%  plunged 9% as the turbine maker guided for lower-than-forecast revenue and margins in what the company called a “transitional” year. The company also said it would cut 600 white-collar jobs.

Jewelry retailer Pandora /zigman2/quotes/205851124/delayed DK:PNDORA -5.25%  shares stumbled 11% after reporting worse operating profit and revenue than forecast. Same-store sales excluding Hong Kong fell 10% in the third quarter.

/zigman2/quotes/210599654/delayed
XX : STOXX
464.05
-17.67 -3.67%
Volume: 0.00
Nov. 26, 2021 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,257.04
-660.94 -4.15%
Volume: 133,308
Nov. 26, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,739.73
-336.14 -4.75%
Volume: 159,605
Nov. 26, 2021 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,044.03
-266.34 -3.64%
Volume: 1.33M
Nov. 26, 2021 4:44p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
loading...
/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,579.00
-120.00 -2.55%
Volume: 1.98M
Nov. 26, 2021 12:14p
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/zigman2/quotes/204493701/delayed
UK : U.K.: London
1,885.00 p
-58.00 -2.99%
Volume: 1.63M
Nov. 26, 2021 4:35p
P/E Ratio
31.15
Dividend Yield
1.42%
Market Cap
£15.36 billion
Rev. per Employee
£108,414
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/zigman2/quotes/205820667/delayed
ES : Spain: Madrid
23.38
+0.80 +3.54%
Volume: 2.45M
Nov. 26, 2021 5:38p
P/E Ratio
N/A
Dividend Yield
0.18%
Market Cap
€15.34 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205851124/delayed
DK : Denmark: OMX
kr. 830.00
-46.00 -5.25%
Volume: 498,501
Nov. 26, 2021 4:59p
P/E Ratio
20.46
Dividend Yield
0.00%
Market Cap
kr.87.32 billion
Rev. per Employee
kr.731,115
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Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.

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