11/29/2016, 6:17 PM (Source: TeleTrader)
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European equities settle mixed as pound rallies

Stock markets in the Eurozone advanced on Tuesday and Italian shares rebounded, led by banks, while the joint currency slightly strengthened compared to the dollar and fell against the pound. Sterling's rise exerted pressure on equities listed in London and the benchmark index closed 0.4% down.

Miners and the energy sector weighed on FTSE 100 the most, with a selloff in oil futures and weaker prices of precious metals. Antofagasta and Fresnillo lost 3.91% and 2.44%, respectively. The worst performers, they were only slightly outpaced by BHP Billiton, Anglo, Rio Tinto, BP and Randgold, all losing more than 2%.

The DAX settled 0.36% in the green, as RWE jumped 3.13% to the top of the chart, followed by Continental's rise of 2.41%. The CAC 40 rallied 0.91%, where Kering was the lead gainer with 2.48% in positive territory. Société Générale and Vivendi both added slightly more than 2%. The FTSE MIB soared 2.13%, as the troubled Banca Monte Paschi di Siena jolted 17.46% higher. The second-best performer in Milan was UBI Banca, with a rise of 5.81%.

The euro strengthened 0.16% compared to the dollar and shed 0.56% against the pound (both 6:16 p.m. CET). At the same time, sterling rose 0.76% versus the greenback.

Breaking the News / IT