🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

European shares tepid at the end of strong quarter

Published 06/30/2020, 03:38 PM
Updated 06/30/2020, 03:40 PM
© Reuters.
DE40
-
SHEL
-
STMPA
-
IFXGn
-
ASMI
-
MU
-
STOXX
-
SXEP
-
SX7P
-
SXAP
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
June 30 (Reuters) - European shares were largely flat on
Tuesday as investors booked some profits following a strong
quarterly rebound, while improving China factory data and hopes
of more U.S. stimulus buoyed sentiment in Asia.
The pan-European STOXX 600 index .STOXX looked set to post
its biggest quarterly gain since March 2015 with a 12.5% rise,
as unprecedented economic stimulus, hopes of a COVID-19 vaccine
and relatively fewer coronavirus cases in Europe powered a
rebound from March lows.
Still, the index is down 13.5% for the year.
The trade-sensitive German DAX .GDAXI rose 0.2% after data
showed China's factory activity expanded at a stronger pace in
June as the government lifted lockdowns and stepped up
investment. Chipmakers STMicroelectronics STM.MI , Infineon
Technologies IFXGn.DE , ASM International ASMI.AS rose
between 1.4% and 2.8% after an upbeat revenue forecast from U.S.
firm Micron Technology MU.O . The broader STOXX 600 index .STOXX was up 0.1% by 0720
GMT, although oil & gas .SXEP , banking .SX7P and automakers
.SXAP index were a drag.
Royal Dutch Shell RDSa.L fell 1.0% after saying it would
write down the value of its assets by up to $22 billion after
lowering its long-term outlook on oil and gas prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.