29th Aug 2018 11:09
BRUSSELS/FRANKFURT/PARIS (Alliance News) - European stocks were struggling for direction on Wednesday as investors kept an eye on the euro and waited to see progress in talks between the US and Canada to salvage the North American trade pact.
Market participants also kept an eye on the latest developments in Italy after the country's Finance Minister Giovanni Tria said that Italy isn't planning to breach the EU's budget deficit limit.
The pan-European Stoxx Europe 600 index was marginally lower at 385.36 in late opening deals after finishing little changed the previous day.
The German DAX and France's CAC 40 index were trading mixed showing little change while the UK's FTSE 100 was down 0.6% on Brexit-related concerns.
The Bloomberg reported, citing senior officials on both sides that the UK and the EU now aim to finalize divorce terms by mid-November, later than the October deadline regularly mentioned in public.
German automaker Volkswagen dropped 1.6% after buying a minority stake in technology company FDTech GmbH for an undisclosed amount.
Novartis shed 0.8% after its eye care unit Alcon announced an immediate, voluntary market withdrawal of the CyPass Micro-Stent from the global market.
Bertrandt Group shares rallied 4.4% in Frankfurt. The company reported that its post-tax earnings for the nine-month rose to EUR32.09 million from EUR27.82 million in the prior year.
German digital media group RTL soared 5.1% after its second-quarter revenue and core earnings topped forecasts.
Mining stocks fell as copper prices dipped pressured by a recovery in the dollar. Anglo American declined 1.1%, Antofagasta dropped 1.5% and Glencore shed 0.6%.
James Fisher & Sons, a provider of marine engineering services, jumped 2.9% in London after reporting a rise in first-half profit.
Petrofac gained 1.5%. The company said that it has received a provisional letter of award for an EPC contract worth USD600 million with Sonatrach for EPC1 of the Tinhert field development project in Algeria.
Software product group Micro Focus International climbed 1.9% after it announced the commencement of a share buy-back program with an initial tranche of up to USD200 million.
Related Shares:
Anglo AmericanMCRO.LAntofagastaGlencoreJames Fisher and SonsAntofag.5%pr