Most EU indexes rise

Most EU indexes rise

On Wednesday, most European stock indexes soared because traders were assessing corporate news ahead of the highly anticipated gathering of the European Central Bank to be held next week.

The index of the key businesses of the Stoxx Europe 600 region rallied by 0.16% being worth 387.49.

Additionally, the British stock indicator FTSE 100 managed to grow by 0.4%, while the French CAC 40 acquired 0.2%. As for the German DAX, it gained 0.55% and the Spanish IBEX 35 jumped 0.75%.

The Italian FTSE MIB tumbled by nearly 1% on worries that the high level of public debt would make difficult for Italy’s authorities to find purchasers for its government bonds after the European Central Bank ceased purchasing government securities. At the moment Italy's public debt has surpassed 130% of the country’s GDP.

Equities of the Irish paper packaging manufacturer Smurfit Kappa ascended by about 2.5% because the US International Paper Co gave up the idea of buying a rival for 8.9 billion euros.

BHP securities ascended by 1.4% following news that the company was offered to buy its shale assets in America. Among the contenders for the deal one should mention crude giants Chevron and BP. The overall value of assets accounts for $7-9 billion.

Meanwhile, the capitalization of Repsol ascended by 3.5%. The Spanish crude company uncovered plans to ramp up dividend payments in 2019 and 2020 to respectively 95 euro cents as well  as 1 euro per share.

Equities of British retailer WH Smith Plc went up by 5.6%. As a matter of fact, the company posted sales surge of 4% for up to 13 weeks to June 2.

The upcoming gathering of the ECB is expected to be decisive to determine the timing of the curtailment of the program for the acquisition of assets of about 2.5 trillion euros.


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