European shares supported by gains in mining and oil business

* Mining and energy stocks among top performers * Airline stocks fall after Barclays cost target cuts * Many investors stay cautious prior to “Brexit” vote

( ADVISORY- Reuters plans to change intra-day European and UK
stock exchange reports with a Live Markets blog on Eikon – see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for site in development. See the bottom of the report for more.
details) By Sudip Kar-Gupta and Alistair Smout LONDON, June 6 European stocks edged up on.
Monday, assisted by gains in major mining and oil company shares.
following weakness in the dollar triggered by Friday’s weak U.S.
tasks data. The pan-European STOXX 600 and FTSEurofirst 300.
equity indexes increased 0.3 and 0.4 percent respectively,.
having fallen around 1 percent on Friday. European shares were led up by Britain’s FTSE 100,.
which increased 1 percent and is heavily weighted in.
commodity-related shares. The UNITED STATE jobs information hit the dollar, but this in turn gave a.
raise to the commodity sector, since a weaker greenback makes.
products priced because currency more inexpensive for.
consumers paying with other currencies. The STOXX Europe 600 Basic Resources sector increased 4.3.
percent, enhanced by a rise for miners.

Mining stocks such as Anglo American, Rio Tinto.
and BHP Billiton rose more than 6 percent as the.
rate of copper reached its highest level in around 4.
weeks. “Product stocks are continuing to gain from Friday’s.
sharp drop in the United States dollar,” Jasper Lawler, market expert at.
CMC Markets, stated. The shares of oil majors such as BP and Total.
also rose as oil rates advanced. However, shares in airlines Air France KLM,.
Lufthansa and International Consolidated Airlines.
Group all fell after analysts at Barclays cut their.
price targets on the stocks.

” Even if their margins are still increasing thanks to sustain.
savings, numerous airline companies across the globe would admit that demand.
is softer than prepared for,” Barclays composed in a note. Travel and leisure stocks dropped 0.4 percent, the.
biggest sectoral faller. Relentless concerns that Britain will vote to leave the.
European Union in a referendum on June 23 also kept financiers on.
edge. A series of surveys revealed that the ‘Out’ project was.
acquiring momentum, with YouGov and ICM surveys providing it a 4-5.
point lead. That put pressure on the pound but likewise struck certain.
UK-listed stocks with exposure to the domestic economy.

Housebuilders such as Berkeley, Persimmon.
and Barratt Advancements are anticipated to be a few of the.
stocks most affected by any British exit from the EU, or Brexit,.
and were down 0.5-1.5 percent. Today’s European research round-up ADVISORY- Reuters plans to replace intra-day European and UK.
stock exchange reports with a Live Markets blog on Eikon (see cpurl:// apps.cp./ cms/? pageId= livemarkets.
for website in development). In a real-time, multimedia format.
from 0600 London time through the 1630 closing bell, it will.
include the best of our market reporting, Stocks Buzz service,.
Eikon graphics, Reuters pictures, captivating research study and.
market zeitgeist. Breaking news and remarkable market moves will.
continue to be alerted to all clients and we will continue to.
supply a short opening story and thorough closing reports. If you have any thoughts, tips or feedback on this,.
please email mike.dolan@thomsonreuters.com. Mike Dolan, Markets Editor EMEA.

( Editing by Tom Heneghan).

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *