The European markets struggled for the bulk of Tuesday’s session. Disappointing trade data from both China and Germany had a negative impact on investor sentiment. Regional earnings also proved to be a mixed bag.
However, after fluctuating between small gains and losses over the course of the trading day, the European markets climbed into the green in late trade. The move coincided with the S&P 500 and the Dow Jones Industrial average hitting new record highs on Wall Street.
The pan-European Stoxx Europe 600 index advanced 0.18 percent. The Euro Stoxx 50 index of eurozone blue chip stocks increased 0.28 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.28 percent.
The DAX of Germany climbed 0.28 percent and the CAC 40 of France rose 0.21 percent. The FTSE 100 of the U.K. gained 0.14 percent and the SMI of Switzerland finished higher by 0.08 percent.
In Frankfurt, Deutsche Post DHL Group increased 1.35 percent. The company confirmed its FY17 outlook after reporting higher profit in its second quarter with good growth in revenues.
Uniper climbed 3.57 percent after the conventional-energy company raised the lower end of its outlook for fiscal 2017 adjusted EBIT and also increased its guidance for full-year dividend growth.
In Paris, Air France-KLM rose 0.55 percent after the airline reported a 4.6 percent increase in passenger traffic and a 3.0 percent rise in capacity for July.
In London, Standard Life fell 0.27 percent after its Global Absolute Return Strategies (GARS) mandate saw 5.6 billion pounds in net outflows in the first half of the year.
InterContinental Hotels Group dropped 3.90 percent after reporting slower growth in revenue per room in the second quarter.
Gaming operator Paddy Power sank 4.11 percent after yesterday’s disappointing results.
Homebuilder Bellway gained 0.59 percent. The company reported a jump in revenues in the year ending July 31, despite uncertain economic conditions.
Aegon advanced 1.69 percent in Amsterdam. The insurer has agreed to sell Unirobe Meeùs Groep, an independent financial advisory group, to Aon Groep Nederland for 295 million euros.
Jewelry manufacturer and retailer Pandora plummeted 13.69 percent in Copenhagen after its second-quarter revenue and profits missed analyst expectations.
Nokian jumped 6.57 percent in Helsinki after reporting better-than-expected quarterly profit on higher Russian demand and a stronger ruble.
German exports declined the most in nearly two years in…