European Shares Surge As Trade And Geopolitical Tensions Ease
(RTTNews) - European stocks surged to record highs on Tuesday as commodity markets stabilized, trade and geopolitical tensions eased, and the U.S. Congress prepared to vote on a spending bill to end the government shutdown.
Investors also cheered data that showed French inflation unexpectedly eased to a five-year low last month, raising further possibility that eurozone inflation could be below the European Central Bank's target for longer this year.
The pan European Stoxx 600 jumped 0.7 percent to 621.86 after gaining 1 percent on Monday.
The German DAX surged 1.1 percent, France's CAC 40 added 0.6 percent and the U.K.'s FTSE 100 was up 0.2 percent.
German wind turbine manufacturer Nordex rose 1.3 percent on securing a 189MW order from OX2 for turbines at the Fagerasen wind farm in Sweden.
Finnish utility Fortum Oyj declined 1.5 percent after 2025 earnings came in below expectations.
Swedish engineering group Alfa Laval fell 2.6 percent after posting a drop in Q4 margins sequentially.
Publicis Groupe shares plunged 5.2 percent. The French advertising group announced a profit for full year that dropped from last year.
Amundi rallied 4.5 percent. The asset manager reported higher-than-expected net inflows in the fourth quarter as clients seek diversification in Europe and away from the U.S. dollar.
Dutch paints maker Akzo Nobel slumped 4.3 percent after adjusted EBITDA, a key earnings metric, dropped in its fourth quarter on weak revenues.
Drug maker AstraZeneca dropped 1.3 percent in London after the U.S. FDA rejected a subcutaneous version of its lupus medicine that would make it easier to administer.
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