European Stocks Rise as MiFID II Implementation Begins

January 3, 2018
European Stocks Rise as MiFID II Implementation Begins

By Investors Hub

European stocks are mostly higher on Wednesday as new rules for the region’s financial markets, known as Mifid II, came into force and the euro edged lower for the first time in six days.

There is also some respite on the economic front as official data showed that Germany’s jobless rate held steady at a record low of 5.5 percent in December, bolstering optimism over the health of Europe’s largest economy.

On the flip side, U.K. construction activity grew at a slower pace in December, survey results from IHS Markit showed.

While the U.K.?s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index and the German DAX Index are both up by 0.5 percent.

Switzerland-based Addex Therapeutics has jumped on news the company signed a licensing and collaboration agreement with Indivior for global development and commercialization of ADX71441 for the treatment of addiction.

Apple supplier AMS has also advanced after a rally in technology companies boosted U.S. stocks to record highs overnight.

Clothing retailer Next Plc has soared in London after raising its full-year profit guidance.

HeidelbergCement shares have also risen after the building materials company said the significant reduction of the effective tax rate in the U.S. will have a positive effect on its net profits and cash flow starting in the year 2019.

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.

Leave a Reply

Futures Pointing to Higher Open Ahead of Fed Minutes
Previous Story

Futures Pointing to Higher Open Ahead of Fed Minutes

Asian Stock Markets Close Broadly Higher
Next Story

Asian Stock Markets Close Broadly Higher

Latest from Economy

Don't Miss