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Positive German data, Airbus shares drive tentative gains in European stocks

Published 10/08/2019, 03:32 PM
Updated 10/08/2019, 03:40 PM
© Reuters.  Positive German data, Airbus shares drive tentative gains in European stocks
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Oct 8 (Reuters) - European shares ticked higher in early
trading on Tuesday, helped by gains in Airbus shares and data
showing an unexpected rise in industrial output in Germany,
while caution prevailed ahead of U.S.-China trade talks.
The pan-European STOXX 600 index .STOXX was up 0.1% by
0715 GMT, with most regional bourses trading higher.
The August data for Germany provided a shimmer of hope that
an expected contraction in Europe's biggest economy in the third
quarter would not be steep. Airbus AIR.PA rose 2.2%, after the planemaker reported
higher orders for the first nine months of the year, putting it
well ahead of U.S. rival Boeing Co BA.N . Also helping sentiment were shares of Nordic telecom
companies Nokia Oyj NOKIA.HE and Ericsson ERICb.ST , which
rose about 1%, after a report that the U.S. government has
suggested issuing credit to help the two companies compete with
China's Huawei.
In a weak spot, shares of London Stock Exchange Group
LSE.L dropped 6.4% after Hong Kong's bourse 0388.HK dropped
its unsolicited $39 billion bid for the company. News overnight that the United States had expanded its trade
blacklist to include some of China's top artificial intelligence
startups kept investors on edge ahead of high-level trade talks
this week.

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