Tuesday, 18 June 2019
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European shares end higher boosted by banks and auto stocks
Friday, 12 April 2019 23:42 WIB | MARKET UPDATE |Indeks Stoxx Europe 600Saham Eropa

European shares finished higher for a third straight day on Friday, with investor sentiment getting a boost from JP Morgan setting a strong start to U.S. earnings and amid signs of stabilization in China™s economy.

The pan-European STOXX 600 index closed up 0.16 percent to 387.53, but ended the week lower after two weeks of gains. Banks and the auto sector were the biggest boosts to the benchmark on the day.

Spain™s MIB led gains in the region with its 0.8 percent rise, having hit an eight-month high earlier the session, while German shares closed up 0.5 percent.

Data showed that China™s exports rebounded to a five-month high in March, but imports shrank for a fourth straight month and at a faster pace, painting a mixed picture of the economy.

Italy™s biggest bank, UniCredit rose more than 4 percent even after it said is one of the banks accused of running a cartel in trading euro zone government bonds between 2007 and 2012, when financial crises dragged down banks and several European economies.

The auto sector followed suit with car-makers such BMW, Daimler and Fiat Chrysler gaining more than 2.2 percent each.

Source: Reuters

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