Business World

Sunday 24 September 2017

European shares rebound from lows, Siemens up

Stock market analysis
Stock market analysis

European shares rebounded from one-month lows in early trading on Tuesday, with Siemens gaining after posting a 15pc jump in core operating profit.

Shares in the German conglomerate rose more than 2pc following impressive results as new Chief Executive Joe Kaeser reined in costs and tightened control of major projects.

Siemens helped the European industrial goods and services sector to gain more than 1 percent.

The pan-European FTSEurofirst 300 index was up 0.5pc at 1,296.80 points at 0813 GMT, after falling to a one-month low in the previous session.

However, gains were likely to be under check on brewing concerns that a cut in U.S. stimulus could hurt emerging economies.

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