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European shares climb in early trading on Brexit day

Published 01/31/2020, 04:36 PM
Updated 01/31/2020, 04:40 PM
European shares climb in early trading on Brexit day
SABE
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STOXX
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SXPP
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SXTP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Jan 31 (Reuters) - Gains in airlines and mining stocks
helped European shares rise in early trading on Friday, on a day
the United Kingdom officially ends its 40-year membership of the
EU.
The pan-European STOXX 600 .STOXX , which was up 0.3% by
0811 GMT, was still looking at its second straight weekly
decline on concerns about the coronavirus outbreak in China
which has now taken more than 200 lives.
Investors also took heart that the World Health Organization
(WHO) stopped short of travel and trade restrictions with China,
even as it declared the virus outbreak a global emergency.

Travel and leisure .SXTP as well as the mining .SXPP
subsector, which are among the worst hit European subindexes
this week, outperformed.
Spain's Banco Sabadell SABE.MC tumbled 7.3% after the
lender swung to a loss in the fourth quarter from a profit a
year earlier due to higher-than-expected bad loan provisions and
losses at its British unit TSB. Brexit day, which comes three and a half years after the
United Kingdom first voted to leave the bloc, is not expected to
move markets, analysts said.

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