5/24/2016, 5:56 PM (Source: TeleTrader)
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European markets end session with gains

Even though trading in Europe started with losses on Tuesday, stocks turned higher towards the closing bell. The leading sectors were banking and insurance. The DAX rose 2.33% to 10,071.94 points. The highest growth was achieved by Volkswagen stocks, which added almost 4%, followed with Bayer AG’s rise of 3.57%. Shares with the weakest performance were Lufthansa, which grew just 0.64% and Adidas, with a rise of 0.92%.

The French CAC 40 was 2.54% up at 4,435.09 points. The winners were from the banking and insurance sector: Societe Generale, up 5.36%, Axa, rising 4.72%, BNP Paribas, climbing 4.06%, and Credit Agricole, which advanced 3.54%. The smallest growth was recorded for construction and telecom company Bouygues, which rose almost 1%. It was followed by communication operator Orange, 1.1% in the green, and leader in optical products Essilor, which grew 1.35%.

The FTSE 100 rose 1.35%, led by Tesco’s increase of 6.81%. The biggest loser was silver and gold producer Fresnillo, declining 3.34%, followed by mining company Randgold Resources Ltd., which lost 3.21%.

The Italian FTSE MIB grew 3.34% to 17,903.19 points. The biggest winners were banks, with Banca Monte dei Paschi di Siena rising 10.51%, Banca Popolare dell’Emilia Romagna soaring 7.88%, Mediobanca with 6.08% in positive territory, and Unicredit, rallying 4.87%. The only declining share in the index was Telecom Italia, with a drop of 2.35%.

The Swiss Market Index increased 1.08% to 8,125.24 points. Winners were also from the banking and insurance sector: Julius Baer was 3.52% up, Swiss life Holding grew 3.17% and Zurich Insurance rose 2.11%. The power and automation technologies company ABB Ltd. finished flat. WTI was 1.08% up at $48.67 per barrel while the benchmark contract for Brent increased 0.72% to $48.74 per barrel at 5:41 p.m. CET.

The euro was 0.55% down against the dollar, 1.55% against the sterling and 0.25% against franc at 5:29 p.m. CET.


Image: EPA / Frank Rumpenhorst

Baha Breaking the News (BBN) / DN