Stocks

European shares rise on firm French stocks

Reuters LONDON | Updated on January 22, 2018 Published on December 15, 2015

European shares rose on Tuesday to bounce back from stinging losses in the previous session, as gains in major French companies propped up the region's equity markets.

The pan-European FTSEurofirst 300 index, which fell to its lowest level in two-and-a-half months on Monday due to a slump in oil prices, rose 1.3 per cent while the euro zone's blue-chip Euro STOXX 50 index advanced 1.6 per cent.

The French CAC-40 equity index outperformed, rising 1.7 per cent. The Paris market was helped by French pharmaceuticals group Sanofi, which climbed 4 per cent after it said it would swap some assets with Boehringer Ingelheim.

There was also a 7.5 per cent surge in car parts company Faurecia after it agreed to sell a division to Plastic Omnium. The rise helped to lift the European autos and parts sector.

However, shares in German chipmaker Dialog Semiconductor slumped 17.2 per cent, dragging down peers such as ARM and AMS, after Dialog slashed its revenue guidance.

Published on December 15, 2015
null
This article is closed for comments.
Please Email the Editor