Europe’s benchmark stock index edged up on Thursday, buoyed by a rally in energy and tech stocks that ended its longest losing streak in more than two months, while geopolitical tensions underpinned demand for safe-haven assets.
Shares of international, dollar-earning firms such as AstraZeneca, Shell and BP rose as sterling slumped to a six-month low against the dollar. Assets perceived as safe havens have been on the rise, with gold, the Swiss franc and the US dollar edging up on the day. Soitec jumped 7.5 per cent after the French semiconductor materials supplier’s half-year results, limiting the tech sector’s losses. CTS Eventim slumped 8.1 per cent following the German ticketing group’s nine-month results.Wall Street’s main indexes were mixed in volatile trading, with Alphabet’s losses weighing on the benchmark S&P 500 and the Nasdaq, while the blue-chip Dow touched a one-week high, boosted by a 4.5 per cent advance for cloud company Salesforce.
Amazon lost 3 per cent after a report said it will likely face an EU investigation next year into whether it favors its own brand products on its online marketplace.
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