Most of the European shares rose; Micro Focus however fell more than 5%

European Shares

Markets all over Europe were on an upbeat territory on Tuesday’s session as it was reinforced by securing the price of commodities.

European stocks benchmark Stoxx 600 finished the session higher by 0.45 percent. The FTSE 100 in Britain added more than 70 points; close to hit its best level since Prime Minister of U.K. Theresa May announced a snap election for June 8. The blue-chip stock index closed the session 0.57 percent higher to 7,342.

Meanwhile the French CAC also rose about 0.28 percent at 5,398 and the German DAX edged up by 0.43 percent at 12,749.

Basic resources also contributed to the gains last Tuesday as the futures of copper seemed on track to resist a declining streak. The material slightly rose by 0.2 percent to $5,508 per ton. This drove mining companies BHP Billiton, Glencore and Antofagasta to settle higher by 1.8 percent.

World’s largest staffing firm Adecco continued to get strengthened by major markets in southern Europe. The shares of this Switzerland based company beats the expectations of analysts as it advanced more than 2.2 percent for its fourth-quarter profit.

Software and information technology firm Micro Focus, however, did not follow the trend as it was close the hit the bottom of the European benchmark following the statement of the firm saying it is not pleased with the deteriorating revenue at the Hewlett Packard Enterprise (HP) business it is purchasing. It settled the session 5.6 percent lower.

Centrica also struggled to acquire gains as it was pressured by the pledge of Theresa May to wrap up energy prices if the June election would turn out to be a success. The British utility company fell by 1.18 percent.


Leave a Reply

Your email address will not be published.