European ended mostly higher on Wednesday amid optimism about coronavirus vaccines and post-Brexit trade deal hopes.
News that Poland and Hungary have agreed on a compromise with Germany with regard to the EU's 1.8 trillion euro budget and pandemic stimulus plan contributed as well to the largely positive mood in the markets.
According to reports, British Prime Minister Boris Johnson will be meeting EC President Ursula von der Leyen Wednesday night for talks on a trade agreement with the European Union.
The European Central Bank holds its monthly policy meeting on Thursday, with analysts expecting the central bank to ramp up its monthly bond-buying targets.
The pan European Stoxx 600 climbed 0.32%. The U.K.'s FTSE 100 edged up 0.08%, Germany's DAX ended higher by 0.47% and Switzerland's SMI gained 0.35%, while France's CAC 40 slid 0.25%.
Among other markets in Europe, Austria, Czech Republic, Denmark, Greece, Iceland, Netherlands, Norway, Poland, Portugal, Russia and Turkey closed higher.
Belgium, Spain and Sweden edged up marginally, while Finland and Ireland ended weak.
In the German market, Thyssenkrupp gained more than 5%. Covestro gained about 4.5% after raising its full-year EBITDA outlook.
BASF advanced more than 3%. Volkswagen and E.ON both gained about 2%. Lufthansa, Adidas, Munich RE, Fresenius and Allianz also ended notably higher.
Wirecard shares tumbled nearly 5%. Deutsche Bank, Vonovia and Infineon Technologies also ended weak, albeit with less pronounced losses.
In France, Renault rallied more than 4%. Vivendi, Peugeot, Technip and Publicis Groupe gained 2 to 3%. Carrefour, Engie, Vinci and Michelin also closed on strong note.
Alstom gained about 0.6%. The French manufacturer of rolling stock said it has finalized a deal to invest $7 million in Cylus, an Israel-based cybersecurity specialist.
On the other hand, shares of STMicroElectronics plunged more than 11% after the chipmaker announced that it is postponing an annual sales target of $12 billion to 2023.
WorldLine, Kering and Safran also ended notably lower.
In the UK market, Just Eat Takeaway shares soared more than 7%. Kingfisher, DCC, Ocado Group, BT Group, National Grid, Sainsbury, Rolls-Royce Holdings, JD Sports Fashion, Next, Avast and M&G gained 2.5 to 4%.
Land Securities gained more than 2% after finalizing a new management team.
CRH, Polymetal International, Smurfit Kappa, Hikma Pharmaceuticals, Fresnillo and AstraZeneca ended lower by 1.5 to 3.4%.
Data from Destatis showed Germany's exports increased 0.8% month-on-month in October, slower than the 2.3% increase seen in September. Shipments were forecast to climb 1.2%.
Imports were up 0.3% following a 0.2% rise in September. Economists had forecast an increase of 1%.
The trade surplus rose to a seasonally adjusted EUR 18.2 billion from EUR 17.6 billion in the previous month. The expected level was EUR 18 billion.
For comments and feedback contact: editorial@rttnews.com
