Insurers push EU equities higher after Hurricane Irma downgrade

Insurers push EU equities higher after Hurricane Irma downgrade

On Monday, European equities rallied in early deals, underpinned by insurers because the downgrade of Hurricane Irma in America lifted expectations that costs for the industry might be lower than initially anticipated.

Europe's insurance index turned to be the leading sectoral gainer, soaring 1.6% after the estimated insured drop in America resulting from Irma was reduced to $20-40 billion.

Among leading gainers in the sector one should mention German reinsurers Hannover Re as well as Munich Re, tacking on respectively 5% and 3.5%. Their revenues contributed to a broad-based soar, helping the pan-European STOXX 600 to gain 0.6%.

The top loser in Europe was Danish pharmaceuticals company Lundbeck. It went down 11% following the resignation of CEO Kåre Schultz.

Additionally, British heavyweight AstraZeneca rallied 3.1% after two of its drugs fighting lung cancer demonstrated impressive clinical results on Saturday.

 

Similar

American equities decrease

On Tuesday, American equities were set to start lower because gloomy earnings from industrial bellwethers Caterpillar as well as 3M backed worries over Italy's finances, Saudi Arabia's diplomatic isolation as well as trade conflict fears…

Asian equities slump

On Tuesday, Asian equities headed south because earnings season worries in America affected Wall Street, while a mixture of downbeat drivers from Saudi Arabia's diplomatic isolation and fears over Italy's budget as well as Brexit negotiations put…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera