European shares are higher Tuesday, rebounding from the weak Monday performance as investor sentiment improves a little. Investors appear ready to take cautious positions in some stocks amid specific company news. However, a risk averse tone remains.
By 1305 BST, the EUROSTOXX 600 was up 0.16%, while the EUROSTOXX 50 had gained 0.24%. The regional stock exchanges also saw a broad reversal of recent declines. The German DAX was little changed, down just 0.04%, the French CAC was 0.27% higher and the Spanish IBEX was 0.32% in positive territory.
Brexit fears continue to weigh
While worries over the ongoing tariff war between the US and China and the EU appear to have eased off a little Tuesday, Brexit-related concerns for businesses remains a hot topic for some.
Just days after European plane maker Airbus warned its UK operations were at risk if a no deal Brexit went ahead, BMW’s customs executive told the FT in an interview, that the German car maker could consider exiting the UK if its supply-chain was affected by the change.
However, BMW’s special British representative, Ian Robertson told reporters that it was not actively considering moving production out of the UK.
BMW shares were 1.23% lower at €77.88 on the mixed news.
Amid the backdrop of US tariff wars and Brexit no deal worries, other stocks were moving in relation to their own news flow.
Eurofins shares were higher Tuesday after the food and biopharma testing business raised its revenue target for 2018, after its purchase of US food business Covance gained antitrust clearance.
Eurofins shares gained 6.09% to trade at 442.80.
Elsewhere, Inmarsat shares lost 9.62% to hit £571.40 after French rival Eutelsat Communications said it won’t be making a bid for the UK satellite services firm. That detail followed reports Monday, that the French firm was considering approaching the UK firm.