EconomyEditor's PickNewsEuropean stocks seek direction after Wall Street rally

1 year ago116 min
imageStock Markets44 minutes ago (Oct 06, 2020 03:35AM ET)

(C) Reuters. FILE PHOTO: The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) – European stocks were little changed on Tuesday as mixed corporate updates tempered optimism about fresh U.S. stimulus measures that bolstered Wall Street indexes overnight.

The pan-European STOXX 600 (STOXX) slipped 0.1% by 0716 GMT, with the German DAX (GDAXI) and France’s CAC 40 (FCHI) trading flat, while London’s FTSE 100 (FTSE) slipped 0.2%.

Global markets saw a relief rally as U.S. President Donald Trump was discharged from the hospital on Monday following treatment for COVID-19 and the prospects for a fresh U.S. stimulus package appeared to brighten. [MKTS/GLOB]

Puma (DE:PUMG) slid 3.6% after French luxury group Kering (PA:PRTP) said it had completed the sale of a 5.9% stake in the German sportswear group.

Swiss technology accessories make Logitech (S:LOGN) fell 3.8% after Bloomberg reported that Apple (O:AAPL) had stopped selling headphones and wireless speakers from rivals as it plans to launch its own products.

French waste and water firm Suez (PA:SEVI) jumped 4.9% after rival Veolia (PA:VIE) succeeded in buying 29.9% of the company owned by power group Engie (PA:ENGIE).

Shares of Veolia and Engie rose nearly 1% each.

European stocks seek direction after Wall Street rally

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