Wednesday 21 March 2018

European shares turn positive, banks and miners rise

Traders on the floor at the New York Stock Exchange
Traders on the floor at the New York Stock Exchange

EUROPEAN shares turned positive, recovering from losses suffered during most of the morning session, with gains at major financial and mining stocks buoying markets.

The pan-European FTSEurofirst 300 index, which had at one stage fallen as much as 0.5pc, was up by 0.2pc at 1,191.01 points by 1107 GMT.

The euro zone's blue-chip Euro STOXX 50 index also recovered from its earlier losses to rise by 0.3pc to 2,673.59 points.

Banks and miners were among the best performers. The STOXX Europe 600 Banking Index reversed falls to gain 0.5pc, helped by better-than-expected results from Bank of America which came out at 1100 GMT.

The STOXX Europe 600 Basic Resources Index, which houses major mining stocks, also was up 2.2pc after miner BHP Billiton said iron ore production had risen 9pc to a record level.


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