FTSE 100 Index Sheds 0.3% as French CAC 40 Index Adds 0.3%

April 19, 2017

Investors Hub

Reports reaching us indicate that the European stocks are turning in a mixed performance on Wednesday.

While the UK’s FTSE 100 Index is down by 0.3 percent, the German DAX Index and the French CAC 40 Index are up by 0.2 percent and 0.3 percent, respectively.

Worries over North Korea appeared to ease somewhat with opinion polls showing centrist independent Emmanuel Macron is leading the first round of French presidential election.

In economic news, Eurozone inflation slowed as initially estimated to a three-month low of 1.5 percent in March after a 2 percent increase in February, the latest data from Eurostat showed.

Another report showed that the Eurozone trade surplus increased more than expected in February, as exports rose and imports fell.

Investors waited for a parliamentary vote after British Prime Minister Theresa May said she had decided “with reluctance” that an election was needed to strengthen the government’s hand as the country commences Brexit negotiations.

Associated British Foods has risen after the company, which owns discount fashion chain Primark, lifted its interim dividend after reporting a sharp increase in first half profits.

French cosmetics and beauty products giant L’Oreal has also moved higher after reporting an 8 percent increase in first-quarter revenue, boosted by strong sales in Asia and North America.

Automakers BMW, Volkswagen, Peugeot and Renault have rallied after industry data showed Europe’s passenger car registrations grew for the fifth successive month in March and at an accelerated pace.

Total passenger car registrations surged 11.2 percent from a year earlier, much faster than the February’s 2.2 percent rise

On the other hand, Luxury group Burberry has fallen after the company’s quarterly sales missed analyst estimates as tough conditions in the U.S. overshadowed an “exceptional” performance in its home market.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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