European Shares Appreciate Despite Brexit Uncertainty

December 11, 2018

By Investors Hub

European stocks have moved mostly higher on Tuesday, even as the underlying tone remains cautious amid Brexit uncertainty and concerns over violent protests in France.

Investors cheered progress in trade talks after reports suggested that Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer have discussed trade issues despite a dispute over the arrest of a senior Chinese businesswoman.

Meanwhile, after calling off a crunch House of Commons vote, U.K. Prime Minister Theresa May will meet European leaders and EU officials in the hope of clinching a better Brexit deal.

While the U.K.?s FTSE 100 Index has surged up by 1.9 percent, the French CAC 40 Index and the German DAX Index are both jumping by 2.1 percent.

British advertising giant WPP Group has jumped after it set out a new three-year plan to return the business to growth.

Ashtead Group has also rallied after the industrial equipment rental company said it expects annual results to be ahead of prior expectations.

Carpetright has also moved sharply higher. After reporting a wider first-half loss, the carpet and floor coverings retailer said that it was making progress on its turnaround plan.

Daimler is also posting s notable gain. The German luxury carmaker said it would buy battery cells worth more than 20 billion euros by 2030 as part of efforts to push forward with a transformation into the electric future of the company.

Copper producer Aurubis has also moved notably higher after unveiling its financial results for fiscal year 2017/18.

On the other hand, outsourcing firm Interserve has shown a notable move to the downside after saying it is in rescue talks.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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