European Stocks Regain Lost Ground on Buy Pressure
By Investors Hub
European stocks have regained some lost ground on Thursday as investors hunt for bargains following a recent string of losses on concerns over the U.S.-China trade dispute and its impact on global growth.
As Beijing threatens the United States with the possibility of a rare earths export ban, Chinese state media has sent an ominously worded warning to Washington: “Don’t say we didn’t warn you.”
Brexit worries also remain on investors’ radar. Bank of England Deputy Governor Dave Ramsden said a Brexit outcome of no deal and no transition is unarguably the biggest risk to the U.K. economy and financial stability.
This would have large negative economic effects, he said at the Inverness Chamber of Commerce on Thursday.
Traders also kept an eye on U.S. political developments after Special Counsel Robert Mueller said that his probe into Russian interference in the 2016 election did not clear President Donald Trump.
While the U.K.?s FTSE 100 Index has climbed by 0.5 percent, the German DAX Index is up by 0.4 percent and the French CAC 40 Index is up by 0.3 percent.
FirstGroup, a provider of transport services in the U.K. and North America, has moved sharply higher after narrowing its full-year pretax loss.
Axel Springer shares have also soared. The German media holding company said that it is in negotiations with private equity firm KKR and Friede Springer for a potential strategic investment in the company.
Restaurant Group has also advanced after the company announced that current trading remains in line with its expectations.
On the other hand, Johnson Matthey shares have tumbled after the chemicals company said it expects a year of more modest growth for fiscal 2020 due to investment spending.
Kuka, a manufacturer of robotics and automation solutions, has also moved to the downside despite reaffirming its 2019 outlook.