4:00 PM Frankfurt In a mixed trading session, European markets mostly declined. Banks provide a boost to the FTSE 100 index in London. France-based Accor acquires 29 hotels across Europe for 284 million. Large U.K. banks pass annual financial stress test. Linde cuts its 2017 outlook.
In a mixed trading session, European markets declined on Tuesday except in London where banks led the market in positive territory.
The largest banks in the U.K. recorded solid gains after all of them passed the annual financial stress tests of the Bank of England.
The banking system was capitalized to support the real economy in a global stress scenario which adversely impacts the United Kingdom, the central bank said.
In the euro zone the seasonally adjusted unemployment rate fell to 10.7% in October, compared to 10.8% in September and 11.5% in October 2014, Eurostat said
In the wider EU28 region, the unemployment rate was at 9.3%, unchanged from the previous month, but down from the rate of 10.1% in October 2014.
Manufacturing index in the euro zone increased to 52.8 in November from 52.3 in the previous month.
While export orders grew, the output price index remained below 50 for a third month, according to data provider Markit Economics.
In London trading, FTSE 100 index gained 36.28 or 0.6% to 6,393.19 and in Frankfurt the DAX index edged down 11.10 to 11,371.23.
In Paris, CAC 40 index slid 6.61 to 4,950.99.
jumped 3.2% to 41.22 after the France-based hotels operator agreed to acquire 29 hotels with 3,677 rooms across Europe for about 284 million or $301 million.
The acquisitions include a portfolio from AXA Investment Managers - Real Assets for 56 million euros, a six-hotel portfolio from Invesco for 152 million, and a portfolio from Deutsche AWM for 76 million.
Croda International Plc
gained 1.6% to 2,914 pence after the U.K.-based specialty chemicals group agreed to acquire Netherlands-based smaller rival Incotec Group BV for 155 million and expand in the market for crop seed enhancement.
The transaction is expected to close on December 4.
ITE Group Plc
declined 4.3% to 146.25 pence after the U.K.-based exhibitions and conference organizer said revenues in the year ending in September plunged 22.3% from a year ago to £135.8 million.
Net profit in the period tumbled 22% from a year ago to £26.6 million and diluted earnings per share dropped to 10.4 pence from 13.8 pence.
The company maintained its full year dividend at 7.4 pence.
plunged 14% to 142.05 after the Germany-based industrial gas and engineering company slashed its operating profit forecast for 2017.
The company warned of lower results in its engineering division, citing low oil prices and a decline in customers investments.
Revenues in the nine-month period ending in September jumped 7.7% from a year ago to 13.55 billion.
Net profit in the period soared 8.6% from a year ago to 937 million, while diluted earnings per share increased to 4.63 from 4.41.