Stocks in Europe rise with sterling's rebound

Wednesday, 15. June 2016 09:48

European equities advanced across the board on Wednesday as the pound took back a fraction of sharp losses and the yen retreated, leading to a more stable sentiment ahead of this week's policy reviews by the central banks of Japan, the Eurozone and the United States. The British currency was hit in the past week with survey results showing a stronger lead of the campaign to leave the European Union. 

The DAX added 0.72% at 9:34 a.m. CET. Deutsche Bank and Volkswagen jumped the most among German stocks, 2.66% and 2.39%, respectively, while energy giant RWE climbed almost 2%. Continental, Vonovia, SAP and Adidas were the only companies hovering around the flat line. The CAC 40 moved 1.05% to green territory at 9:34 a.m. CET. Schneider Electric jumped 2.7%, leading the gainers. LafargeHolcim, Societe Generale and Credit Agricole all moved close to 2.5% higher. The only constituent in red, at 0.8%, was Michelin.

The FTSE 100 rose 1.03% at 9:27 a.m. CET, with mining companies climbing significantly. Standard Chartered was the strongest though, leaping just over 5%. Next were Anglo American, Glencore and Antofagasta, soaring between 3.5% and 4%, boosted by the rise in the price of copper. The pound strengthened 0.47% compared to the dollar and 0.39% against the euro. The yen lost 0.26% and 0.2%, respectively, compared to the common currency of 19 nations and the greenback (all 9:45 a.m. CET).


Image: EPA / Facundo Arrizabalaga

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