European stocks rise as the Italian stock market recovers

European stocks rise as the Italian stock market recovers

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International Reuters

This content was published on May 17, 2018 10:53 May 17, 2018 – 10:53

Stock image of operators working on the Frankfurt Stock Exchange, June 24, 2016. REUTERS / Staff / Remote

LONDON (Reuters) – European stocks rose in early trading on Thursday as the Italian stock market recovered some of the ground lost the previous day and with rebounds from the sectors linked to raw materials.
The titles of the British group Ocado were shot up to 50 percent after an agreement signed with the American Kroger.
The pan-European STOXX 600 index was up 0.1 percent at 0724 GMT, staying at 3-1 / 2 highs thanks to advances in energy and mining values. Italy’s benchmark index rose more than 1 percent as markets awaited the outcome of talks between the League and the 5-Star Movement to form a coalition government.
On Wednesday, Italian shares fell more than 2 percent after the filtering of a draft coalition program that indicated that the parties planned to ask the European Central Bank to condone Italian sovereign debt for 250,000 million euros.
The British FTSE 100 index was also up, downplaying the rise of the pound sterling after news on Wednesday that Britain will tell Brussels it is ready to stay in the EU customs union beyond 2021. source from the office of Prime Minister Theresa May dismissed the information.
Ocado supermarket titles rose almost 40 percent to record highs after the company signed an agreement with US retailer Kroger Co to use Ocado’s technology in food deliveries in the world’s largest market.
The results also inspired sudden movements of actions. Altice rose more than 10 percent after its French subsidiary showed signs of recovery in the first quarter, while the French water and waste management group Suez gained 3.4 percent after the waste business boosted the gross operating profit in the first quarter.
The shares of Maersk, the German television channel RTL and Royal Mail fell between 3.9 and 9.5 percent after accounting for the market.

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