European shares tepid at the end of strong quarter

  • Reuters
  • Stock Market News
European shares tepid at the end of strong quarter
Credit: © Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

June 30 (Reuters) - European shares were largely flat on Tuesday as investors booked some profits following a strong quarterly rebound, while improving China factory data and hopes of more U.S. stimulus buoyed sentiment in Asia.

The pan-European STOXX 600 index .STOXX looked set to post its biggest quarterly gain since March 2015 with a 12.5% rise, as unprecedented economic stimulus, hopes of a COVID-19 vaccine and relatively fewer coronavirus cases in Europe powered a rebound from March lows.

Still, the index is down 13.5% for the year.

The trade-sensitive German DAX .GDAXI rose 0.2% after data showed China's factory activity expanded at a stronger pace in June as the government lifted lockdowns and stepped up investment. STMicroelectronics STM.MI , Infineon Technologies IFXGn.DE , ASM International ASMI.AS rose between 1.4% and 2.8% after an upbeat revenue forecast from U.S. firm Micron Technology MU.O . broader STOXX 600 index .STOXX was up 0.1% by 0720 GMT, although oil & gas .SXEP , banking .SX7P and automakers .SXAP index were a drag.

Royal Dutch Shell RDSa.L fell 1.0% after saying it would write down the value of its assets by up to $22 billion after lowering its long-term outlook on oil and gas prices.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or


Related Articles