European shares bounce from 22-month low

European shares rose in early trading on Tuesday helped by stronger defensive stocks, as the focus turned to the start of the reporting season which is expected to deliver double-digit earnings growth for the third quarter.

The pan-European STOXX 600 (STOXX) index was up 0.2 percent by 07:14 GMT, after hitting a 22-month low in the previous session on the back of risings U.S. Treasury yields and a mix of geopolitical tensions.

Despite the bounce some caution remained after a turbulent week that saw the STOXX post its worst week since February.

Meggitt (L:MGGT) was the biggest gainer in Europe, up 5.6 percent after the UK engineer upgraded its 2018 organic revenue growth guidance, boosted by higher demand for its wheels, brakes, fuel tanks and other aeroplane parts.

Merlin however fell 7.3 percent after its trading update.

Volvo (ST:VOLVb) fell 6.1 percent after the Swedish company warned that some truck engines could be exceeding emission limits because a component was degrading more quickly than expected.

For more tips and Market Analysis Join Tac-Markets 

Tac-Markets Offers a complete guide and market news to help you succeed in the industry

Leave a Reply

Your email address will not be published. Required fields are marked *