Modupe Gbadeyanka
By Investors Hub
European stocks have moved mostly higher on Wednesday as signs of progress on U.S. tax reform and reports of a breakthrough in Brexit talks helped investors shrug off news about North Korea’s latest missile launch.
However, U.K. shares have moved lower as the pound hit a two-month high amid reports that Britain has agreed to the EU’s 50 billion-pound divorce bill.
While the U.K.’s FTSE 100 Index has fallen by 0.6 percent, the French CAC 40 Index is up by 0.7 percent and the German DAX Index is up by 0.9 percent.
Spanish banking group BBVA has rallied after reaching an agreement to sell an 80 percent stake in its real estate business to Cerberus for about 4 billion euros.
Banco Santander has also moved to the upside after approving changes to its executive board as well as a goodwill impairment of 600 million euros.
Air France-KLM shares have jumped after the airline signed a cooperation agreement with India’s Jet Airways for the development of their operations between Europe and India.
Meanwhile, exporters have come under selling pressure in London, with Diageo, British American Tobacco and GlaxoSmithKline falling 1-2 percent.
London Stock Exchange Group has also moved lower after chief executive Xavier Rolet agreed to step down at the board’s request amid a bruising boardroom row.
