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European Equities Close Mainly Higher Despite Slump for UK-listed Commodities

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European equities finished mainly higher on Tuesday despite falling oil prices having a knock-on effect on London-listed commodities stocks

West Texas Intermediate crude oil, which is among the world's most highly traded energy products, spent much of the trading session trading close to $38 per barrel, a departure from the $40-$41 per barrel price it traded at earlier in the month. Also influencing cautious trading sentiment was address to be delivered by Federal Reserve Chairwoman Janet Yellen, mainly after European markets closed at The Economics Club in New York.

In equities, commodities stocks were among the biggest decliners on London's FTSE 100 Index, with Glencore, Rio Tinto, Anglo American and BHP Billiton down by 4.9%, 3.3%, 4.3% and 3.2%, respectively. Gainers included Mediclinic International, up 3.4%, Associated British Foods, higher 1.4% and Ashtead Group, an equipment rental company, up 3.1%.

On Frankfurt's DAX, residential real estate Vonovia rose by 2.4%, followed by Linde, a company engaged in the gas and engineering sectors, higher 1.3%, kidney-dialysis company Fresenius, up 1.7%, Infineon Technologies, a manufacturer of semiconductors, up by 1.2%, and Deutsche Telekom, higher 1.3%.

And, on Paris' CAC-40, Veolia Environnement, a provider of environmental management services, led the gainers, advancing by 2.8%, followed by LVMH Moet Hennessy Louis Vuitton, a luxury goods company, 2.5% higher, pharmaceutical company Sanofi, higher 2.1% and Essilor International, a company which specializes in ophthalmic optics, 2.0% higher.

The FTSE 100 closed 0.01% lower, the DAX rose by 0.37% and the CAC-40 ended 0.85% higher.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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