European Equity Benchmarks Close Higher, Real Estate, Aerospace Stocks Boost Markets

The broad-based major European indices closed higher in Tuesday's trading session, as aerospace stocks, chemical companies, and real estate trusts boosted the markets.

In economic news, the Bank of England estimated that up to 75,000 jobs could be lost in financial services following the UK's exit from the European Union, reported the BBC. The BBC said senior executives of the Bank are using the number as a "reasonable scenario," particularly if there is no specific UK-EU financial services deal. It also said the Bank believes that many jobs will move to the continent.

In France, the consumer price index ( CPI ) rose 1.1% in October, after gaining 1.0% in the previous month, according to the Institute for Statistics and Economic Studies (INSEE). It is the third consecutive rise in year-on-year inflation, and is a result of an acceleration in food prices and a drop in manufactured product prices. Energy prices slowed down slightly after two months of sharp acceleration.

From September to October, consumer prices recovered 0.1% after a moderate downturn in September. Year on year, the Harmonized Index of Consumer Prices should increased to 1.2% after rising 1.1% in September.

And in Spain, the gross domestic product ( GDP ) registered a variation of 0.8% in Q3 compared with the previous quarter, according to the quarterly GDP flash estimate from the National Institute of Statistics (INE). The rate was one-tenth lower than what was registered in the previous quarter.

In equities, chemicals company Croda International helped nudge the FTSE into positive territory in London, rising 4.3%, followed by airline operator easyJet and real estate investment trust Segro, which climbed 3.5% and 2.9% respectively. Public relations company WPP and oil compay BP gained 2.8% and 2%, while specialty chemicals company Johnson Matthey, and real estate investment trust British Land were up 1.9% and 1.8%.

In Frankfurt, the DAX was closed in observance of Reformation Day.

And in Paris, aerospace companies Airbus and Safran led the CAC higher, rising 3.6% and 1.9% followed by public relations company Publicis Groupe, and media company Vivendi, which climbed 1.8% and 1.5% respectively. Chemicals company Solvay and electricity and natural gas provider Engie closed 1.2% and 1.1% higher.

The FTSE gained 0.07%, the DAX was closed for a national holiday, and the CAC-40 rose 0.18%.

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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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