Tags: European Stock Market, Oil Market, Stock Market
EU Shares

EU Shares Up as Oil and Retail Stocks Rise

European shares inched higher on Tuesday, lifted by the rise in oil and retail stocks. Britain is set for a new national lockdown to contain a surge in coronavirus cases.

By 0814 GMT, the pan-European STOXX 600 index climbed 0.1% after opening lower. It was following losses in Asia and on Wall Street over worries about the runoff Senate elections in Georgia, U.S.

UK’s FTSE 100 was up 0.6%. Oil majors like Royal Dutch Shell (LON: RDSa) and BP (NYSE: BP) uplifted it provided the biggest support.

Furthermore, British fashion retailer Next rose by 8.2%. This came after it said its Christmas sales were much better than it had expected.

Additionally, the domestically focused mid-cap index inched 0.2% higher. It rose despite a new, more contagious variant of the COVID prompting a lockdown. This means a fresh shutdown of schools and businesses. The variant first appeared in the United Kingdom.

With the government also looking to extend a lockdown, Germany’s DAX index was flat.

German chipmaker Dialog Semiconductor PLC gained 4.7%. That was after it gave an upbeat Q4 revenue forecast due to strong demand for 5G phones and tablets.

AU Stocks Ended Lower; S&P/ASX 200 Down 0.03%

Australian stocks drifted lower after the close on Tuesday. Leading shares lower were losses in the Energy, Industrials, and Consumer Discretionary sectors.

At the close in Sydney, the S&P/ASX 200 dropped 0.03%. 

Moreover, the session’s best performers on the S&P/ASX 200 were Silver Lake Resources Ltd (ASX: SLR). They rose 6.81% or 0.130 points to trade at 2.040 at the close. 

Newcrest Mining Ltd (ASX: NCM), meanwhile, added 4.18% or 1.130 points to end at 28.140. Lynas Rare Earths Ltd (ASX: LYC) gained 4.07% or 0.170 points to 4.350 in late trade.

On the other side, the session’s worst performers were Zip Co Ltd (ASX: Z1P). They fell 5.01% or 0.28 points to trade at 5.31 at the close. 

Addittionally, EML Payments Ltd (ASX:EML) declined 4.02% or 0.17 points to end at 4.06. Unibail Rodamco Westfield (ASX:URW) fell 3.95% or 0.20 points to 4.86.

Rising stocks exceeded the Sydney Stock Exchange’s declining ones by 676 to 650, and 351 ended unchanged.

Furthermore, Rising 4.07% or 0.170 to 4.350, shares in Lynas Rare Earths Ltd (ASX: LYC) rose to 5-year highs.

The S&P/ASX 200 VIX was up 0.50% to 14.138.

User Review
0 (0 votes)


Leave a Reply


Share this on

Share on facebook
Share on twitter
Share on linkedin

Rec­om­mended for You

Subscribe to Our Newsletters

Have The Best Of Trade Market News Delivered Directly To Your
Mailbox. Subscribe To Receive The Latest Market News.