Europe: Stocks tick up post ECB decision, banks fall

[BENGALURU] European shares rose slightly on Wednesday as gains across most sectors offset losses among lenders, which were hit by a lack of detail in European Central Bank comments after the bank left borrowing costs unchanged.

Banks, which were broadly boosted some weeks ago on reports of a planned ECB tiered deposit rate, dropped 0.3 per cent as investors failed to get details on this from Draghi.Commerzbank slid 2.3 per cent, as German Chancellor Angela Merkel said the result of its merger talks with Deutsche Bank was open and after a report Deutsche Bank's chief executive told his Commerzbank counterpart that he wants more time to consider a merger.

The sector index has a dividend yield of 4.15 per cent, according to Refinitiv Eikon data, and each stock on the index ended Wednesday higher. European basic resources stocks added 1 per cent, with Norsk Hydro rising 1.3 per cent. JP Morgan raised its price target on the Oslo-listed aluminum giant, which announced a 150 million Norwegian crown facility upgrade on the day.A 0.4 per cent loss among healthcare stocks tempered the broad benchmark's gains, with Novartis AG knocked 3 per cent lower on the back of price target cuts by UBS, Independent Research and Barclays.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Europe: Stocks steady before EU summit, ECB rate call[LONDON] Europe's main stock markets steadied in opening trade on Wednesday, before the EU's crucial Brexit summit and the European Central Bank's latest interest rate decision. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

World stocks eke out gains ahead of ECB meetingLONDON: World stocks inched up on Wednesday but were still below the six-month high they reached earlier this week as the prospect of the European ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Europe: Shares fall as tech, auto stocks weigh[FRANKFURT] European stocks opened broadly lower on Monday following a week of strong gains, as dismal German trade data hurt auto makers and software company SAP dragged the tech sector lower after it announced another departure in its top management. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Stocks edge lower as threat of US tariffs hits Airbus, suppliers[FRANKFURT] European shares opened slightly lower on Tuesday, weighed down by planemaker Airbus and its suppliers, which took a hit from proposed US tariffs, while an event-packed week kept investors cautious. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Stocks snap winning run, Commerzbank in merger focusEurope: Stocks snap winning run, Commerzbank in merger focus
Source: BusinessTimes - 🏆 15. / 51 Read more »