LIVE MARKETS-Insurers at new peak, Russian plays up, defence down
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INSURERS AT NEW PEAK, RUSSIAN PLAYS UP, DEFENCE DOWN
European shares edged higher on Thursday, as traders juggled between tariffs and a fresh batch of earnings, with sentiment supported by the prospect of a meeting between Donald Trump and Russian President Vladimir Putin over Ukraine.
That renewed hopes for a Ukraine truce after more than three years of war, helping stocks with exposure to the two countries. Austrian lender Raiffeisen RBIV.VI was boosted after a Russian court lifted a freeze on its local unit.
In contrast, defence stocks .SXPARO lagged, also weighed down by disappointing results from Rheinmetall RHMG.DE. Ferrexpo, a Ukraine-focused miner, rose 5%.
Insurers outperformed, with the sector .SXIP rising 1.8% to a fresh record high, boosted by solid results from Germany's Allianz ALVG.DE. The sector is up more than 22% year-to-date.
London's FTSE .FTSE underperformed, dragged lower by stocks going ex-dividend, ahead of a BoE rate meeting, The SMI .SSMI in Zurich was little moved despite the implementation of 39% tariffs. The region-wide STOXX 600 rose 0.4%, with tech stocks .SX8P also advancing.
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: TARIFFS, CHIPS AND EARNINGS CLICK HERE
SPLIT BANK OF ENGLAND SET TO CUT RATES CLICK HERE
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