European markets were muted on Tuesday as investors paused for clearer details on Donald Trump's economic plans ahead of the US president's first speech to a joint session of Congress. The biggest risers on the FTSE 100 were Babcock International Group up 63p to 948p, GKN up 16.9p to 359.9p, Croda International up 163p to 3,508p, Burberry Group 61p 1,726p. The biggest fallers on the FTSE 100 were St James's Place down 33p to 1,055p, BHP Billiton down 28p to 1,297.5, Randgold Resources down 120p to 7,510p, and Rio Tinto down 43.5p to 3,297p. Engineering firm GKN rose 16.9p to 359.9p following news that annual pre-tax profits on a management basis rose 12% to £678 million. Mr Trump is expected to provide some further details on his economic plans, including infrastructure investments, as he addresses both houses of US Congress this evening.
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Meanwhile, ITV reported a 3 percent increase in adjusted earnings per share, which sent its shares higher in late morning trading. On the other hand, chemical company Covestro looked to close the day down 6.49 percent after a share placement. Shares of Intesa Sanpaolo were also higher at close of play Wednesday, up over 4.5 percent. U.S. markets opened to record highs Wednesday morning following the speech, which also pledged a roll back of business regulations. The pan-European Stoxx 600 was 1.47 percent higher with all sectors trading in positive territory.
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European markets edge higher; Meggitt up 13%
The pan-European Stoxx 600 hovered around the flatline during trading and closed 0.19 percent higher, mainly supported by retail stocks. The British defense and energy engineer Meggitt ended the day at the top of the European benchmark, having jumped 13 percent Tuesday after announcing an increase in revenue for 2016. The FTSE ended the day up 0.14 percent; the DAX closed at 0.1 percent; and the CAC ended up at 0.28 percent. The Spanish company Ferrovial also ended the day up 4.3 percent after presenting its full year results. The Food and biopharma product testing Eurofins saw its worst day in eight months, after lower-than-expected earnings.Meanwhile, ITV reported a 3 percent increase in adjusted earnings per share, which sent its shares higher in late morning trading. On the other hand, chemical company Covestro looked to close the day down 6.49 percent after a share placement. Shares of Intesa Sanpaolo were also higher at close of play Wednesday, up over 4.5 percent. U.S. markets opened to record highs Wednesday morning following the speech, which also pledged a roll back of business regulations. The pan-European Stoxx 600 was 1.47 percent higher with all sectors trading in positive territory.
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collected by :John Miller