Dipo Olowookere
By Investors Hub
European stocks are turning in a lackluster performance on the day. The focus remains on a defining election in Catalonia that will decide the future of Spain.
While the German DAX Index is marginally lower, the French CAC 40 Index is just above the unchanged line and the U.K.?s FTSE 100 Index is up by 0.6 percent.
Homebuilding stocks have fallen in London on concerns over the Brexit effect on the economy after industry data showed that U.K. car output decreased 4.6 percent year-on-year in November in the wake of deteriorating consumer sentiment.
McCarthy & Stone has also moved sharply lower after the government proposed to cut controversial ground rents on new long leases to zero.
Meanwhile, Balfour Beatty shares have rallied. The infrastructure group has reached an agreement with funds managed by Dalmore Capital Limited to sell a 12.5 percent stake in Connect Plus, the company which operates the M25 orbital motorway.
Nokia shares have also moved sharply higher on news the Finnish telecom equipment group has signed a multi-year patent license agreement with China’s Huawei.
