European stocks trade slightly higher after Berlin, Ankara attacks

European stock markets were inching higher Tuesday in spite of two separate attacks in the German and Turkish capitals.

The pan-European Stoxx 600 was 0.2 percent higher.

The French media group Vivendi announced it would continue to work towards increasing its stake in the Italian Mediaset within the limits of 30 percent. Shares of the latter were up by more than 17 percent, reaching the top of the pan-European index.

Financial services and banking stocks were among the best performers during mid-morning trading. Lloyds Group said Tuesday it was purchasing the credit-card business of Bank of American for about $2.35 billion as it tries to boost its consumer-finance business.

Elsewhere, the Italian government is trying to get approval to inject 20 billion euros ($20.80 billion) to rescue its troubled banks. The Atlante fund confirmed Monday that it is pursuing with an investment into the embattled Monte Dei Paschi.

However, the U.S. Department of Justice has asked Credit Suisse to pay between $5 and $7 billion to settle a probe over its sale of toxic mortgage securities. Its shares were slightly down in mid-morning trading.

The London Stock Exchange said Tuesday that it is in exclusive talks with Euronext over sale options for the French LCH clearnet, Reuters reported. Euronext was among the best-performing stocks in European morning trade.

Twelve people died and 45 are injured after a truck ploughed into a Christmas market in Berlin. The German authorities said investigators were assuming the act, which revives memories of another truck attack in the south of France in July, was deliberate.

A few hours before the incident in Berlin, the Russian ambassador to Turkey was shot dead while giving a speech at a gallery. An off-duty policeman shouted “Don’t forget Aleppo” while shooting the Russian representative.

In corporate news, cruise company Carnival is reporting its fourth-quarter figures.

The CEO of the French energy firm EDF said that the current environment is not favorable to a planned capital increase of 4 billion euros.

Source: CNBC

Comments
Loading...