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UK homebuilders and miners back FTSE
On Wednesday, European stocks went down in early deals, suppressed by healthcare as well as utilities stocks, although positive results from a British housebuilder as well as support from mining companies helped to limit losses.
The pan-European STOXX 600 index decreased 0.3%, extending losses from last session. Meanwhile, blue chips decreased 0.3%.
British housebuilder Persimmon happened to be the biggest STOXX gainer, leaping approximately 3.4% following a positive trading statement, in which it posted a 7% soar in first-half sales with the market generally immune to Britain’s June general election.
Shares in peer Barratt Developments gained up to 2.4%, while The UK’s blue chip FTSE 100 that managed to outperform the broader European market, soared 0.1%.
Revenues among mining companies, including Glencore that leapt 2.6% also helped to back British shares.
Healthcare shares dived, suppressed by GlaxoSmithKline that sank after a downgrade from Citigroup from buy to neutral.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.