Thursday, 22 Oct 2020

European stocks seek direction after Wall Street rally

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 2, 2020. REUTERS/Staff

(Reuters) – European stocks were little changed on Tuesday as mixed corporate updates tempered optimism about fresh U.S. stimulus measures that bolstered Wall Street indexes overnight.

The pan-European STOXX 600 .STOXX slipped 0.1% by 0716 GMT, with the German DAX .GDAXI and France’s CAC 40 .FCHI trading flat, while London’s FTSE 100 .FTSE slipped 0.2%.

Global markets saw a relief rally as U.S. President Donald Trump was discharged from the hospital on Monday following treatment for COVID-19 and the prospects for a fresh U.S. stimulus package appeared to brighten. [MKTS/GLOB]

Puma PUMG.DE slid 3.6% after French luxury group Kering PRTP.PA said it had completed the sale of a 5.9% stake in the German sportswear group.

Swiss technology accessories make Logitech LOGN.S fell 3.8% after Bloomberg reported that Apple AAPL.O had stopped selling headphones and wireless speakers from rivals as it plans to launch its own products.

French waste and water firm Suez SEVI.PA jumped 4.9% after rival Veolia VIE.PA succeeded in buying 29.9% of the company owned by power group Engie ENGIE.PA.

Shares of Veolia and Engie rose nearly 1% each.

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