European Shares Rise As Investors Await US Senate Vote On Tax Reform

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European stocks held steady on Tuesday as German political concerns eased and investors looked for signs of progress from the Senate debate on U.S. tax reform.

Investor sentiment also got a boost after all seven of the U.K.'s biggest lenders passed the Bank of England's 2017 stress test for the first time since the test was launched in 2014.

In economic releases, French consumer confidence improved more-than-expected in November, after weakening in the previous four months, survey data from statistical office Insee showed.

Separately, Eurozone money supply grew 5 percent annually in October, following September's revised 5.2 percent increase, the European Central Bank said. The expected rate was 5.1 percent.

The pan-European Stoxx Europe 600 index was up 0.3 percent at 386.14 in late opening deals after declining half a percent the previous day.

The German DAX was rising 0.3 percent, France's CAC 40 index was moving up 0.4 percent and the U.K.'s FTSE 100 was adding half a percent.

French lender Societe Generale rose 0.7 percent after announcing plans to cut 900 jobs as part of a restructuring exercise.

Pharmaceutical company Carmat climbed 2.6 percent. The company announced the first implantation of its bioprosthetic artificial heart in the Czech Republic as part of its clinical trials in humans.

Casino advanced 2.2 percent after it signed an agreement with Ocado Group to develop the Ocado Smart Platform ecommerce grocery service in France. Ocado shares soared 20 percent.

Royal Dutch Shell rallied 3 percent. The company has confirmed that it will stop its scrip dividend program and will make future payments entirely in cash.

EasyJet shares gained 2 percent after the discount airline published figures on its gender pay gap.

Mining stocks were broadly lower. Anglo-Australian mining giant BHP Billiton dropped 1.8 percent, Rio Tinto shed 1.3 percent, Anglo American declined 1.5 percent and Glencore slumped 2.5 percent.

U.K. lender Barclays lost 1 percent and Royal Bank of Scotland edged down marginally after they failed to clear the higher so-called 'systemic' hurdle set by the Bank of England.

BMW shares fell over 1 percent after the German automaker announced a 200 million euro investment in a new 'BMW Group Battery Cell Competence Centre'.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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This is source I found from another site, main source you can find in last paragraph

Source : http://www.rttnews.com/2839542/european-shares-rise-as-investors-await-us-senate-vote-on-tax-reform.aspx

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