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Markets

European stocks seek direction after Wall Street rally

  • The pan-European STOXX 600 slipped 0.1pc by 0716 GMT, with the German DAX and France's CAC 40 trading flat, while London's FTSE 100 slipped 0.2pc.
Published October 6, 2020

European stocks were little changed on Tuesday as mixed corporate updates tempered optimism about fresh US stimulus measures that bolstered Wall Street indexes overnight.

The pan-European STOXX 600 slipped 0.1pc by 0716 GMT, with the German DAX and France's CAC 40 trading flat, while London's FTSE 100 slipped 0.2pc.

Global markets saw a relief rally as US President Donald Trump was discharged from the hospital on Monday following treatment for COVID-19 and the prospects for a fresh US stimulus package appeared to brighten.

Puma slid 3.6pc after French luxury group Kering said it had completed the sale of a 5.9pc stake in the German sportswear group.

Swiss technology accessories make Logitech fell 3.8pc after Bloomberg reported that Apple had stopped selling headphones and wireless speakers from rivals as it plans to launch its own products.

French waste and water firm Suez jumped 4.9pc after rival Veolia succeeded in buying 29.9pc of the company owned by power group Engie.

Shares of Veolia and Engie rose nearly 1pc each.

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