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On Thursday, European markets rallied, as investors watched the steep increase in financial as well as technological stocks.
The European Stoxx 600 index gained 0.3% in the morning, with most sectors and large exchanges on positive territory.
On Thursday, equities of technology companies were leaders, adding 1%, proceeding with their surge among technological shares in the United States. Stocks of Siltronic, Temenos and Ericsson gained more than 1.5% in mid-trading.
Besides this, motor vehicle shares in Europe led losses, losing more than 1.4% after news that the US government plans to impose import tariffs on cars in the Unites States. According to informed sources, US President Donald Trump is on the verge of charging a 25% tariff on car import. Unexpected news seems to have worsened worries as for new global tariffs. Shares of Porsche, Daimler and BMW dived 2.4%.
Considering individual stocks, Electrocomponents rallied to the top of the index after on Thursday posted a 32% soar in profit before tax for the whole year. The company, whose stocks are listed in London, also informed that it had reached an agreement to acquire an IESA outsourcing company for 88 million pounds. Stocks of Electrocomponents edged up by 10%.
Meanwhile, the Swiss food company Aryzta went down to the bottom of the European index following news about income. The company reported a 17% sag in revenue in the third quarter on Thursday and also lowered its earnings forecast for the second time this fiscal year. Stocks went down by 25%.
Furthermore, in addition to the factors that irritate investor sentiment, Donald Trump told on Wednesday that the everlasting trade conflict between the United States and China requires a different structure. In response, on Thursday, the Ministry of Commerce of China reported that it did not pledge to reduce its trade balance with the United States to a certain figure.
On Wednesday, upbeat signs from trade negotiations between the world's two leading economies spurred EU equities, while the threat of a blocked merger deal had Sainsbury's shares suppressed…
On Tuesday, American shares struggled for direction due to the fact that profits in Walmart compensated losses in financials, with trade negotiations between China and America in focus…
On Monday, British equities generally slipped after the close…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
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…
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