EUROPE MARKETS: Total, HSBC Help European Stocks Claw Back Lost Ground
November 21 2018 - 8:20AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch , Emily Horton
Italy lags gains as EU set to sanction government over
budget
European stocks moved higher on Wednesday, clawing back lost
ground from a global equity rout driven by Wall Street a day
earlier as oil and banking stocks pitched in to boost the Stoxx
Europe 600 index.
How are the markets performing?
The Stoxx Europe 600 rose 0.5% to 352.81, after closing down
1.2% on Tuesday.
The FTSE 100 rose 1.1% to 7,024.29, while the German DAX 30
(DAX) gained by nearly 1% to 11,1737.08 and the French CAC 40 index
(PX.V) rose by 0.5% to 4,948.21.
The British pound was last trading at $1.2800 up from $1.2789
late Tuesday in New York. The euro rose to $1.1410 on Wednesday,
versus $1.1370 late Tuesday.
What drove stocks?
Doubts about holiday sales and the chip sector drove the brutal
U.S. tech stock selloff and it bled into the European markets. The
Nasdaq Composite Index fell 1.7% Tuesday and the S&P 500 and
Dow industrials dropped into bear-market territory. Wednesday's
action looked slightly brighter, however, as U.S. investors got
ready for the Thanksgiving Day holiday, which will close markets on
that side of Atlantic on Thursday.
Italy was in the spotlight after the European Union said it may
sanction the country's government
(https://news.google.com/articles/CBMigQFodHRwczovL3d3dy5ldXJhY3Rpdi5jb20vc2VjdGlvbi9lY29ub21pYy1nb3Zlcm5hbmNlL25ld3MvaXRhbHlzLXJldmlzZWQtYnVkZ2V0LWRpZC1ub3QtZGlzcGVsLWNvbmNlcm5zLWV1cm9ncm91cC1wcmVzaWRlbnQtc2F5cy_SAQA?hl=en-US&gl=US&ceid=US%3Aen)over
a budget that breaches EU rules.
What stocks were active?
As oil prices rebounded along with broader markets, shares of
heavily-weighted Total SA (TOT) (TOT) rose 0.8% and Royal Dutch
Shell Group PLC (RDSA.LN) (RDSA.LN)(RDSA.LN) gained 1.6%.
Banking major HSBC Holdings PLC (HSBA.LN) (HSBA.LN) rose 2.2%,
while Banco Santander SA (SAN) (SAN.MC) added 1%. Shares of
Deutsche Bank AG (DBK.XE) rose 1%.
(END) Dow Jones Newswires
November 21, 2018 09:05 ET (14:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Global X Funds Global X ... (NASDAQ:DAX)
Historical Stock Chart
From Feb 2025 to Mar 2025
Global X Funds Global X ... (NASDAQ:DAX)
Historical Stock Chart
From Mar 2024 to Mar 2025
