AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.53 Increased By ▲ 0.21 (2.52%)
CPHL 96.30 Increased By ▲ 3.41 (3.67%)
FCCL 47.15 Increased By ▲ 0.42 (0.9%)
FFL 15.40 Increased By ▲ 0.52 (3.49%)
FLYNG 28.25 Increased By ▲ 1.27 (4.71%)
HUBC 138.80 Increased By ▲ 4.79 (3.57%)
HUMNL 12.92 Increased By ▲ 0.40 (3.19%)
KEL 4.51 Increased By ▲ 0.30 (7.13%)
KOSM 5.58 Increased By ▲ 0.19 (3.53%)
MLCF 62.35 Increased By ▲ 1.47 (2.41%)
OGDC 214.99 Increased By ▲ 6.47 (3.1%)
PACE 5.56 Increased By ▲ 0.16 (2.96%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.76 Decreased By ▼ -0.04 (-0.21%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.21 Increased By ▲ 0.25 (2.09%)
PPL 173.99 Increased By ▲ 5.22 (3.09%)
PRL 36.20 Increased By ▲ 1.17 (3.34%)
PTC 23.48 Increased By ▲ 0.49 (2.13%)
SEARL 95.00 Increased By ▲ 1.90 (2.04%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.28 Increased By ▲ 0.28 (2.8%)
TRG 64.55 Increased By ▲ 3.88 (6.4%)
WAVESAPP 10.05 Increased By ▲ 0.35 (3.61%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.69 Increased By ▲ 0.04 (1.1%)
BR100 12,507 Increased By 267.8 (2.19%)
BR30 37,751 Increased By 1357.8 (3.73%)
KSE100 116,260 Increased By 2107 (1.85%)
KSE30 35,763 Increased By 562.1 (1.6%)

European stocks eked out gains on Wednesday, aided by defensive sectors, as uncertainty around China’s stimulus plans kept the mood subdued ahead of key US inflation data later this week.

The continent-wide STOXX 600 index was up 0.1%, as of 0711 GMT, with investors buying into utilities, healthcare and real estate - sectors considered as a safer bet during times of uncertainty.

The benchmark index touched a two-week low in the previous session, with China-exposed mining and luxury sectors taking a beating as investors were disappointed by a lack of fresh stimulus steps from Beijing.

All eyes will be on a news conference by China’s finance ministry on Saturday for new details on fiscal stimulus. Other big catalysts this week include US inflation data on Thursday and the start of US earnings season.

Miners, luxury sector weigh on Europe’s STOXX 600

UK-listed Rio Tinto slipped 0.7% after the miner said it would acquire Arcadium Lithium for $6.7 billion, in a deal that would make it one of the world’s largest lithium producers. Shares of Continental gained nearly 3% after the German automotive supplier forecast profitability in its automotive business to improve in the third quarter.

Struggling German battery maker Varta jumped about 27% after it said Porsche AG would invest in its business unit for large-format lithium-ion cells.

Comments

Comments are closed.