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European shares a centimeter higher than Trump's keynote speech on China



European stocks rose on Tuesday ahead of a critical speech on trade relations with China by President Donald Trump, backed by well-received revenues.

Stoxx Europe 600

SXXP, + 0.26% ,

which ended Monday with just 2% below its record high, rose 0.12% to 405.81.

The German DAX

DAX, + 0.57%

rose 0.29% to 13236.76, the French CAC 40

PX1, + 0.33%

gained 0.15% to 5902.52 and the US FTSE 100

UKX, + 0.39%

rose 0.28% to 7349.30.

Trump at 12 o'clock is about to speak at the Economic Club of New York. "Whatever the tone of the remarks, the effect on the markets is likely to be short-lived. We are just a tweet of policy change, and the next trade announcement may reverse market assumptions, "says Paul Donovan, chief economist at UBS Global Wealth Management.

Vodafone Group

VOD, + 1.72%

VOD, -0.68%

increased by 1% after the US-based mobile phone operator revoked its adjusted profit guidance for fiscal 2020 to suggest 2% to 3% organic growth. Its adjusted for the first half of the year, Ebitda grew 1.4%, with a 0.3% increase in revenue from services backed by profits in South Africa, Spain and Italy.

Infineon Technologies

IFX, + 6.57%

rose 5% as the German chip maker reported better fourth-quarter revenue and operating profit than forecast aided by its smartphone chip maker. Infineon's outlook suggests strong sales growth in the second half of its fiscal year, according to Gianmarco Bonacina, an analyst at Italian broker Equita

B&M European Value Retail

BME, -5.40%

fell 7.3%. The discount retailer suffered a worse-than-expected 2.8% fall in adjusted profit, as the company reported "continued disappointing financial results in Germany" and slowed sales growth in the same stores in its US stores.

Electrical Components

ECM, -10.68%

shares fell 13.6%, as the distributor of industrial and electronic products said the second half began with "modest growth" with "a constant softness in electronics".


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