European Stock Markets
The pan-European Stoxx 660
was 0.03 percent higher in mid-morning deals with financial sectors
moving in opposite directions.
Utilities were the best performers in mid-morning trade with RWE up by 2.6 percent. The stock has benefited from the collapse of coalition talks in Germany, as analysts are now expected a looser energy policy.
Travel and leisure stocks were among the worst performers on earnings. Thomas Cook was down 14 percent after announcing full year results that showed an 8 percent increase in earnings. However, margins fell in the 2017 fiscal year due to a more competitive environment.
Looking across the European benchmark, the food travel company SSP rose 6 percent after posting a 27 percent increase in underlying profits. At the other end, media group Schibsted fell 8 percent after announcing a new share issue.
U.K. enterprise software company Sage Group was up by 2.7 percent on Wednesday morning after it announced a 10 percent increase in organic operating profit to 475 million pounds ($630 million),
Shares of Dutch firm Akzo Nobel were up by 1.3 percent after Japanese firm Nippon Paint made an all cash offer Tuesday to buy Axalta, Reuters reported, putting an end to Axalta's merger talks with Akzo Nobel.
In commodity markets, oil prices were also higher on expectations of a production cut next week at an OPEC meeting. Brent rose 0.7 percent trading at $63.05 and WTI was up by 1.6 percent at $57.74 a barrel at about 9.50 a.m. London time.
Meanwhile, U.K. Finance Minister Philip Hammond will present the government's latest budget at 12:30 p.m. London time. The budget is the first since the general election and it is expected to include lower economic growth expectations than the one presented a year ago. Hammond is also expected to announce measures to boost housing.
Later, there will be flash consumer confidence numbers in the euro zone out at 3.00 p.m. London time.
Utilities were the best performers in mid-morning trade with RWE up by 2.6 percent. The stock has benefited from the collapse of coalition talks in Germany, as analysts are now expected a looser energy policy.
Travel and leisure stocks were among the worst performers on earnings. Thomas Cook was down 14 percent after announcing full year results that showed an 8 percent increase in earnings. However, margins fell in the 2017 fiscal year due to a more competitive environment.
Looking across the European benchmark, the food travel company SSP rose 6 percent after posting a 27 percent increase in underlying profits. At the other end, media group Schibsted fell 8 percent after announcing a new share issue.
U.K. enterprise software company Sage Group was up by 2.7 percent on Wednesday morning after it announced a 10 percent increase in organic operating profit to 475 million pounds ($630 million),
Shares of Dutch firm Akzo Nobel were up by 1.3 percent after Japanese firm Nippon Paint made an all cash offer Tuesday to buy Axalta, Reuters reported, putting an end to Axalta's merger talks with Akzo Nobel.
In commodity markets, oil prices were also higher on expectations of a production cut next week at an OPEC meeting. Brent rose 0.7 percent trading at $63.05 and WTI was up by 1.6 percent at $57.74 a barrel at about 9.50 a.m. London time.
Meanwhile, U.K. Finance Minister Philip Hammond will present the government's latest budget at 12:30 p.m. London time. The budget is the first since the general election and it is expected to include lower economic growth expectations than the one presented a year ago. Hammond is also expected to announce measures to boost housing.
Later, there will be flash consumer confidence numbers in the euro zone out at 3.00 p.m. London time.
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