As the US pared initial gains European indices gave up some earlier advances as well with varied gains seen across the region. Sweden, Switzerland, and France led respectively. All sectors finished to the upside with solid returns in Retail +2.06% and Industrial names +1.88%. Gains were broad with 470 of the 600 Stoxx Europe Index names to the upside but volume was down 10%.
Volkswagen +1.7% is ramping up a charging/home-business electricity firm to supply charging abilities for EV’s. The unit will compete directly with Tesla and will coincide with the release of VW’s ID electric car line set to launch next year. In Europe there are currently 37 operable charging stations available with plans to have 400 by next year in a plan that includes VW, Daimler +.7%, BMW +.1%, and Ford +1.5%.
In Austria, AT&S fell 6% after the electronics component-maker pared FY revenue growth estimates. The move was a result of the weaker smartphone demand that has been front and center as of late. Conversely AMS rallied 11% with Hauck & Aufhaeuser noting Apple weakness is priced in with the company possibly catching a win in the Android space.
Airbus closed up 3.7% after audited figures showed the firm did indeed reach its goal of 800 aircraft sales for the year.
From earlier: Bayer +2.6%, William Morrison -3.2%, Renault +2.7%.
Tonight, unemployment figures hit in South Korea along with the EU with trade data due in Germany. BRC LfL’s will be out in the UK.