European stock markets are trading higher on Wednesday, as investors respond positively to hopes of an upcoming Federal Reserve interest rate cut following recent disappointing U.S. labor data. Reduced trade tensions have also helped lift market sentiment.
In France, the market remains relatively steady after Sébastien Lecornu was named the country’s new Prime Minister.
Traders are now turning their attention to the European Central Bank’s policy announcement and the upcoming U.S. consumer price inflation data later this week.
The CAC 40 in France is up 0.7%, while the FTSE 100 in the U.K. has gained 0.2%, and Germany’s DAX is higher by 0.1%.
In the U.K., DCC plc (LSE:DCC) leads gains with a nearly 4% increase. Other risers include Haleon plc (LSE:HLN), Anglo American plc (LSE:AAL), Pershing Square Holdings Ltd (LSE:PSH), Prudential plc (LSE:PRU), BAE Systems plc (LSE:BA.), Centrica plc (LSE:CNA), Imperial Brands plc (LSE:IMB), Standard Chartered plc (LSE:STAN), HSBC Holdings plc (LSE:HSBA), Admiral Group plc (LSE:ADM), Polar Capital Technology Trust plc (LSE:PCT), and Fresnillo plc (LSE:FRES), all up between 1.5% and 3%.
Meanwhile, Associated British Foods plc (LSE:ABF) has dropped more than 11% after flagging slower sales at Primark in Europe, despite strong U.S. performance.
Other decliners in London include International Consolidated Airlines Group SA (LSE:IAG), down 2.7%, with JD Sports Fashion plc (LSE:JD.), Ashtead Group plc (LSE:AHT), Next plc (LSE:NXT), Persimmon plc (LSE:PSN), Segro plc (LSE:SGRO), EasyJet plc (LSE:EZJ), Kingfisher plc (LSE:KGF), Vodafone Group plc (LSE:VOD), Marks & Spencer Group plc (LSE:MKS), and Glencore plc (LSE:GLEN) all falling between 1% and 1.7%.
In Germany, Siemens Energy AG jumped nearly 3%, with Siemens Healthineers AG, Rheinmetall AG, Sartorius AG, and Deutsche Bank AG climbing 1.5–1.8%.
On the downside, Daimler Truck Holding AG, Deutsche Telekom AG, Vonovia SE, Porsche Automobil Holding SE, Qiagen N.V., Bayer AG, and Munich Re AG lost 1–1.6%.
In France, Thales S.A. surged almost 4%, while EssilorLuxottica S.A. rose 2.75%, and Legrand S.A., Schneider Electric S.E., and Société Générale S.A. gained 2–2.3%.
Other notable risers include ArcelorMittal S.A., Crédit Agricole S.A., Bouygues S.A., Vinci S.A., and Veolia Environnement S.A., while Pernod Ricard S.A., STMicroelectronics N.V., L’Oréal S.A., Accor S.A., Carrefour S.A., Stellantis N.V., and Edenred S.A. recorded mixed losses ranging from moderate to steep declines.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
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