Strong metal gains lifted up European bourses; Straumann rose by 3.7%

European shares

Stocks in Europe all had a strong finish last Tuesday. Investors are currently waiting the U.S. Federal Reserve’s annual central banking meeting at Jackson Hole this week for signs of another rate hike this 2017.

Not only the stocks but healthcare also surged about 1.2 percent on the day. Dental implant company Straumann edged up as high as 3.7 percent in shares as it continued to benefit from strong earnings report last week. Lundbeck, a Danish pharmaceutical firm, released a plan that suggests an increase in its capital shares, which made it jump more than 3.6 percent.

Basic resources as well followed the trend after it rose as much as 1.7 percent in the back of released earnings report and strong metal prices as zinc hovered close to a decade-high and copper reached its best level in almost three years on the session earlier. Mining giant Antofagasta jumped more than 2 percent in shares after it posted high profits for the first quarter.

Looking on indices, European stocks benchmark Stoxx 600 finished Tuesday’s session 0.8 percent higher as it was given a lift from most of its sectors.

On individual stocks, one of the leading housebuilders in the United Kingdom Persimmon had a 30 percent rise in profits for the first and second quarter, much higher compared to the same period last year. However the company was pressured with land purchases on the back of Brexit concerns. Persimmon added 1.7 percent in shares on the day.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *