Stock indices of the major economies of Western Europe noting the increase in the shares of European pharmaceutical companies.
As IFO swoed the index of German business confidence in the economy in November remained at the level of 110.4 points, while analysts expected 110.5 points.
The German economy in the 3rd quarter increased by 0.2% compared with the previous three months. The dynamics coincided with the preliminary estimate and market expectations.
Also, Spanish data pointed to the growth of the economy in the third quarter by 0.7% compared with the previous quarter. The indicator has coincided with the market forecast. It is noted that for the past six quarters Spain’s GDP grew by 0.8%.
As follows from the FOMC minutes, Fed officials actively discussed the rise in interest rates and came to the conclusion that this increase “may be appropriate soon enough.”
According to the markets the chances of such a development in December is estimated at 100%.
The composite index of the largest companies in the region Stoxx Europe 600 rose 0,1% – to 341.09 points.
The value of securities of pharmaceutical companies Shire PLC and Novartis AG rose more than 0.4%.
Quotes of Banco Popolare climbed 1.8% after Goldman Sachs analysts worsened earnings for the period to 2020, but kept the rating of “buy”.
Shares of Remy Cointreau, the second largest producer of alcohol in France rose by 1.8%. The company increased its net profit in the first half by 15% – up to 76 million euros.
Shares of Volkswagen rose 0.96% after CEO Herbert Diss said the company will no longer sell diesel models in the US.
At the moment:
FTSE 6799.57 -18.14 -0.27%
DAX 10669.90 7.46 0.07%
CAC 4533.95 4.74 0.10%