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European shares tick up as Middle East tensions wane

Published 01/07/2020, 04:23 PM
Updated 01/07/2020, 04:24 PM
European shares tick up as Middle East tensions wane
DE40
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BMWG
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STOXX
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SXAP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Jan 7 (Reuters) - European shares rebounded on Tuesday,
snapping a two-day losing streak, as concerns over a U.S.-Iran
standoff eased, while automobile stocks rose after Rolls-Royce
reported record annual sales.
A global selloff in stocks following the killing of a top
Iranian general by the United States eased on Monday in the
absence of any fresh developments in the standoff between the
two countries.
The pan European STOXX 600 Index .STOXX rose about 0.5% by
0805 GMT, with German stocks .GDAXI outperforming most peers.
The automobile subindex .SXAP rose 0.6% after British
carmaker Rolls-Royce marked a 25% jump in 2019 sales, giving
some comfort to the sector that has been plagued by slowing
global demand. Shares of Rolls-Royce owner BMW BMWG.DE rose about 0.8%.


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