#AceFinanceReport – Feb.28: As the month draws to a close on Tuesday stocks and shares have been roaring away after Donald Trumps was inaugurated and the only sign of weakness is in the money and currency markets that have shown a drop…
The pan-European Stoxx 600 was 0.06 percent higher with most sectors trading in positive territory. Construction and material stocks were the best performers in early deals, up by 0.76 percent, on earnings news.
The British defense and energy engineer Meggitt was at the top of the European benchmark, jumping 8 percent, after announcing an increase in revenue for 2016. The Spanish compnay Ferrovial also jumped 4 percent in early trade after presenting its full year results.
European markets higher; MoneySupermarket down 12 % On the other end, the price comparison platform Moneysupermarket Group fell more than 12 percent in early deals given that its revenue for 2017 is running behind last year, Reuters reported. also dropped nearly 6 percent following news that its CEO David Bellamy will step down.
The French Thales was up by 1.83 percent after posting an increase in its earnings.
The British home builder Taylor Wimpey announced a 22 percent increase in its 2016 pretax profit, which sent shares slightly higher in early deals.
Apart from earnings, investors are also watching developments in the U.S. President Donald Trump is set to address the joint houses of Congress and outline his agenda, including his plans for tax reform and infrastructure spending. He is set to ask for a new $600 billion budget for the U.S. military.
In terms of data, the latest French inflation figures showed a small decrease to 1.2 percent on the year in February after reaching 1.3 percent in the previous month.
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