• Major European stock indices trading in the green zone

Market news

7 December 2016

Major European stock indices trading in the green zone

European stocks rose a third straight session supported by mining companies and banks.

Investors expect the forthcoming meeting of the European Central Bank amid growing hopes for additional measures to stimulate the economy, and continue to move away from the Italian referendum results.

The markets are still recovering after Sunday Italian voters rejected constitutional changes proposed by the government, forcing the prime minister Renzi to resign.

However, there are signs that Italy will not hold early elections after the resignation of Renzi.

The composite index of the largest companies in the region Stoxx Europe 600 rose 0,7%, to 347.12 points.

Shares of Rio Tinto rose 4.3% after Credit Suisse improved to "outperform" from "neutral."

Credit Suisse experts maintain a positive assessment for the companies of the mining sector, expecting the favorable trends in terms of demand "will continue to grow after the aggressive reduction of inventories of raw materials companies in 2014-2015".

Cost of Glencore shares jumped nearly 3%.

Capitalization of Royal Dutch Shell rose 1.2% on the information that the company will develop a major oil field in Iran.

Monte Paschi jumped today to 9,5%, UniCredit, Italy's largest bank, + 3%.

Shares of Credit Suisse Group rose by 4,3%, Deutsche Bank +3,2%, BNP Paribas +2.5%.

At the moment:

FTSE 6875.15 95.31 1.41%

DAX 10936.87 161.55 1.50%

CAC 4675.47 43.53 0.94%

Market Focus
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