European stocks rise, boosted by the chemicals sector

(Reuters) – European equities rose on Wednesday after losses in three sessions, as the chemicals deal helped disperse the low-income European banks, with concerns over US-China trade still lingering.

The German chemical groups Bayer and Lanxis have agreed to sell Carenta, which operates a chemical complex, to Macquarie Infrastructure and Real Assets, for 3.5 billion euros (3.9 billion euros).

Shares in both companies rose 1.7% and 3%, with the chemicals sector outperforming the winners.

The Stoxx 600 rose 0.3% after a volatile session on Monday, while the German DAX ignored weak industrial orders.

Bank stocks fell as Italian banks fell after the mixed profits of the country's largest banks.

UniCredit, the country 's largest bank in terms of badets, has retreated after reducing its revenue target for 2019 due to the prospect of a further decline in rates. Interest, but Banco BBM shares rose 3% after the bank recorded a sharp rise in net profit.

The British FTSE 100 <.FTSE> was generally underperforming as its heavyweight, Glencore, fell after the mining company announced a 32% drop in central earnings in the first half.

(Reuters)