Europe: Defensive stocks help close higher as focus turns to US stimulus

📆 28/07/2020 08:58 p. m.
📰 BusinessTimes

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[BENGALURU] European shares closed modestly higher on Tuesday, as investors assessed a batch of mixed earnings reports while holding out for more US stimulus to limit the economic damage of Covid-19. Read more at The Business Times.

Gucci owner Kering and France's Hermes slipped over 2 per cent, while Moncler, which makes luxury puffer jackets, shed 4.4 per cent after reporting a first-half operating loss for the first time in its history.

But with much of the decline priced in, European stocks are on course to end July with gains, supported by a European Union deal to jointly issue bonds to combat the economic fallout of the pandemic and hopes of a Covid-19 vaccine.

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