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Bisnis.com JAKARTA – European stocks managed to turn the tide at the end of the session on Tuesday, supported by optimistic comments by Federal Reserve Governor Jerome Powell at his testimony The movement of the European benchmark stock index, the Stoxx 600, closed up 0.2%, reversing past weaknesses after Powell expressed a positive outlook on the strength of the labor market and inflation low.
Telecommunication stocks posted the largest decline of 1.2%, weighing 4% less on Telenor after the Norwegian telecom operator announced second-quarter results that missed expectations.
However, the decline was offset
Powell's testimony also spurred the strengthening of the US dollar as well as pressure on the euro, which in turn the German DAX index outperformed in ending up 0.9%.
"The weakening of the currency has resulted in a better performance of the European index of US stock indexes," said Joshua Mahony, market badyst at IG.
At the same time, the market was also examining corporate finance reports for the second quarter
The Husqvarna share recorded the largest decline on the Stoxx, at 17.4%, after have experienced an unexpected decline in operating income. According to Reuters, the company's CEO expected a negative price effect in 2018 and a greater impact in 2019.
Meanwhile, SEB's share price rose 4.3% after the net interest income of the Swedish bank exceeded the strong demand
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