EUROPE MARKETS: European Stocks Get A Lift As North Korea Tensions Cool
18 Settembre 2017 - 11:13AM
Dow Jones News
By Carla Mozee, MarketWatch
Ryanair shares drop after flight cancellations
European stocks pushed higher Monday, with the week getting
under way with tensions surrounding North Korea cooling, but
Ryanair Holdings PLC underperformed the broader market as the
company canceled hundreds of flights.
The Stoxx Europe 600 index picked up 0.5% to 382.64. All sectors
were higher, led by the telecommunications and oil and gas groups.
On Friday, the pan-European benchmark slipped 0.3%
(http://www.marketwatch.com/story/european-stocks-head-for-16-weekly-rise-as-investors-shake-off-north-korea-jitters-2017-09-15),
but finished last week up by 1.4%.
Monday's gains followed advances in Asian equity markets, where
South Korea's Kospi Index jumped 1.4%. U.S. Secretary of State Rex
Tillerson said the U.S. is seeking "a peaceful solution" to the
conflict with North Korea as a military option is the only one left
if diplomatic efforts fail. Tillerson made the remarks on CBS's
"Face the Nation" on Sunday
(https://www.cbsnews.com/news/transcript-u-s-secretary-of-state-rex-tillerson-on-face-the-nation-sept-17-2017/).
Tensions with North Korea are likely to remain a distraction,
however markets appear to be becoming desensitised to them at this
time," said CMC Markets UK chief market analyst Michael Hewson, in
a note.
Stock movers: Ryanair Holdings PLC dropped 3% as the carrier
continued its plan, started late week, to cancel between 40 to 50
flights a day over the next six weeks in a bid to improve
punctuality.
Hiscox Ltd. (HSX.LN) fell 2.3% as the insurer estimated net
claims from Hurricane Harvey will total $150 million
(http://www.marketwatch.com/story/hiscox-puts-hurricane-harvey-claims-at-150-mln-2017-09-18).
The company said it will announce an estimate for Hurricane Irma
once the storm's impact becomes clearer.
Telecom Italia SpA (TIT.MI) were up 3.4% following reports the
Italian government will examine France's Vivendi SA's (VIV.FR)
control of the Italian telecommunications company. The review will
aim to establish whether Vivendi complied with legal obligations
when it built its stake in Telecom Italia, according to the New
York Times
(https://www.nytimes.com/reuters/2017/09/17/business/17reuters-vivendi-telecom-italia-goldenpower.html?partner=IFTTT).
(http://www.marketwatch.com/story/european-stocks-push-higher-with-banks-up-as-investors-embrace-risk-2017-09-12)Indexes:
Germany's DAX 30 index rose 0.6% to 12,588.78, and France's CAC 30
index moved up 0.4% to 5,233.19.
The FTSE 100 was up 0.4% to 7,241.58
(http://www.marketwatch.com/story/ftse-100-reaches-for-first-gain-in-5-sessions-as-geopolitical-tensions-ease-2017-09-18).
In Portugal, the PSI 20 climbed 1.2% after S&P Global Ratings
late Friday raised Portugal's credit rating one notch to BBB-,
returning it to "investment-grade" status.
(END) Dow Jones Newswires
September 18, 2017 04:58 ET (08:58 GMT)
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