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Mar 14, 2019

European Markets Closing Report | European markets rally amid Brexit confusion; Lufthansa shares fall 6%

Sam Meredith, Holly Ellyatt

European markets were higher Thursday morning, as investors monitored the latest flurry of corporate results and reacted to Brexit developments in the U.K.

European Markets: FTSE, GDAXI, FCHI, IBEX

The pan-European Stoxx 600 was up around 0.7 percent during afternoon deals, with most sectors and major bourses in positive territory.
Europe’s oil and gas stocks were some of the best performers. OMV, Royal Dutch Shell and Aker BP were all up more than 1 percent.
Looking at individual stocks, Germany’s Gea Group surged to the top of the European benchmark amid earnings news. The Dusseldorf-based group reported full-year revenue rose almost 5 percent in 2018, prompting shares to jump nearly 9 percent.
Sticking in Germany, Lufthansa tumbled to the bottom of the index during morning trade. The country’s biggest airline posted an 11 percent fall in fourth-quarter operating profits on Thursday, saying it would focus on “quality” growth over the coming months. Shares of the firm tumbled almost 6 percent on the news.
On Wall Street, stocks were little changed on Thursday following weaker-than-expected housing data.
Brexit chaos

Source: CNBC

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