Geopolitical tension urged European markets to settle mostly lower

Geopolitical tension

The on-going geopolitical uncertainties had brought the markets all over Europe mixed last Wednesday. It also urged jittery investors to buy gold, which is considered as a safe-haven asset.

The Euro Stoxx 600 settled higher by 0.19 percent as most of its stocks are mixed and nearly all of its sectors in positive territory.

Yara International, a chemical firm in Norway, was one of the best performers after Goldman Sachs lifted its stock approval from “neutral” followed by “buy”. It settled higher by 3.65 percent last Wednesday.

Auto stocks were also boosting behind a firm profit figure. German automaker Daimler partially reported its profits which showed their earnings before interest and tax (EBIT) was 87 percent higher compared to the same period last 2016. Its shares rose 0.7 percent on the news and ended the trade 0.18 percent higher.

Tesco, Britain’s largest retailer surpassed expectations on fiscal year profits when its recovery seemed to show up strength. But, its shares touched the bottom of the European benchmark as it dropped by 5.7 percent.

BHP Billiton wasn’t doing well as it dropped by 3.5 percent after refusing oppositions from stockholder Elliot to restore its corporate action. Basic resources were also on the negative territory, as it finishes 2.58 percent lower last Wednesday.  It was dragged down by Rio Tinto which was currently facing criticisms due to it lacks diversity on conference room, it closed 3.9 percent lower.

Dialog Semiconductor also ended Wednesday’s trade lower. German private bank analyst Bankhaus Lampe had cautioned Apple could move away business from the company. It lost more than 1.63 percent on its shares.


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