Europe stocks steady
Wednesday, 24 September 2014
European stocks steadied Wednesday after two days of selling, but investors remained nervous after the US began airstrikes in Syria. The Stoxx Europe 600 was flat in early trade. The index tumbled 1.4% on Tuesday. Markets struggled for direction with a mixed lead from other regions. US stocks fell on Tuesday. Most Asian markets traded higher overnight. The Stoxx 600 basic resources subindex climbed 0.4%. Germany's DAX was 0.1% lower ahead of the Ifo business sentiment index, the latest indication of the health of Europe's largest economy. In currency markets, the euro edged 0.2% higher to $1.2860 against the dollar, but some analysts expect the currency to remain under pressure. In commodities markets, gold was 0.3% higher at $1225.40 an ounce, while Brent crude oil added 0.1% to $96.90 a barrel. In corporate news, shares in Dutch parcel delivery firm TNT Express TNTEY -1.10% NV slid sharply after it announced a profit warning. UK property website Rightmove RMV.LN -5.29% PLC also fell after it was downgraded to sell from buy by Citigroup. C -0.38% Dutch electronics group Philips PHG +3.72% NV was one of the top risers after announcing plans to spin off its lighting business, according to wsj.com