European stocks cautious as commodities, tech stocks pull higher

By Reuters / June 07, 2018 / in.investing.com / Article Link

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

LONDON, June 6 (Reuters) - European stocks edged higher on Wednesday, underpinned by gains in tech and commodity-related stocks, although trading was cautious amid worries over Italian debt and global trade.

The pan-European STOXX 600 .STOXX index was up 0.1 percent by 0720 GMT, while Germany's DAX .GDAXI advanced 0.2 percent and Britain's FTSE .FTSE rose 0.3 percent.

Investors have shifted focus from concerns over trade tariffs and Italian politics to the supportive backdrop of global growth for equities, which lifted shares in cyclical sectors.

Basic resources .SXPP and energy stocks .SXEP supported the market as underlying oil prices rose and copper also gained.

Tech stocks .SX8P remained close to the previous session's 17-year high, joining in a global rally which saw the U.S. Nasdaq index end at a record close.

Italian stocks .FTMIB were down 0.2 percent as concerns over the new coalition government's big spending plans resurfaced on Tuesday after Prime Minister Giuseppe Conte promised radical change. stocks .SX7P gave up early gains to trade slightly lower. The sector came under pressure last week as Italy struggled to form a government.

Among individual stocks, RPC RPC.L was the biggest faller, tumbling 10.3 percent after the plastic packaging leader said it was looking to sell assets. in the packaging sector, shares in Smurfit Kappa SKG.I recovered some of yesterday's losses, up 2.4 percent, after International Paper IP.N confirmed that it will not make a bid for the Irish company.

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok