Miners and retailers lift STOXX
STOXX 600 up 0.4%
UniCredit buys Commerzbank stake
Mining stocks bounce
Wall St futures edge lower
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MINING AND RETAIL LIFT STOXX
The STOXX 600 .STOXX is adding 0.4%, buoyed my mining .SXPP and retail stocks .SXRP which are both up 1.5%. Healthcare .SXDP stocks are providing a small 0.4% drag.
Market attention is firmly on Commerzbank CBKG.DE shares though, which are soaring 16% to the top of the index, after news that Italy's UniCredit CRDI.MI bought a c.9% stake in the lender from the German government. UniCredit is also doing well, up 2%.
Hellofresh HFGG.DE is another top mover, rising 11.8%.
WH Smith SMWH.L isn't far behind and is also topping the FTSE 100 .FTSE, up 10.4% after announcing a 50 million-pound share buyback. Global review platform Trustpilot TRST.L is up 8.8% after H1 results and announcing an up to 20 million-pound share buyback.
Helping out the mining sector is Norway's Hydro NHY.OL, rising 4% after it initiated its share buyback programme.
The top faller in Europe is British pest control company Rentokil Initial RTO.L, down by 19% after saying it would cut jobs and warned of further weakness in its largest market North America.
Shares of parcel locker firm InPost INPST.AS are also falling, off 6.9% after a bookrunner said on Tuesday that private equity firm Advent International was selling a 4% stake.
(Lucy Raitano)
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