European shares hit two-week high on trade talk hopes; miners, autos up

Danske Andelskassers Bank A/S

19/09/2018 08:02

MILAN, Sept 19 (Reuters) - European shares hit two-week
highs on Wednesday, led higher by materials stocks, while
disappointing updates from staffing firm Adecco  ADEN.S  and
home improvement retailer Kingfisher  KGF.L  weighed.
    The pan-European STOXX 600  .STOXX  rose 0.3 percent by 0713
GMT with sentiment supported by hopes that the U.S. and China
will return to the negotiating table after the latest tariff
round.
    "Our base-case scenario sees both parties negotiating a
settlement in the next 6–9 months," Credit Suisse strategists
said in their daily note.
    Basic materials  .SXPP  were the biggest sectoral gainer, up
1.6 percent, after copper prices rose sharply as investors
shrugged off the risks of an escalation of the U.S.-China trade
row.  urn:newsml:reuters.com:*:nL3N1W51V0
    Adecco fell 4 percent, after the world's largest staffing
company said it has seen a slowdown in growth so far in the
third quarter, while Kingfisher reported a 15 percent fall in
half-year profits, sending its shares down 5 percent.
 urn:newsml:reuters.com:*:nL8N1W50PU
    A solid update however lifted German automotive parts maker
Schaeffler  SHA_p.DE  to the top of the STOXX, up 5.3 percent.
The trade-sensitive autos sector  .SXAP  was also a strong
gainer, up 1 percent.
    Danske Bank  DABA.CO  fell 4.4 percent following the
resignation of its CEO and an updated on a money laundering
probe that prompted the bank to cut its full-year outlook.
 urn:newsml:reuters.com:*:nL8N1W51BZ

 (Reporting by Danilo Masoni, Editing by Helen Reid)
 ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))