"Germany back from holiday seems to be playing catch-up, with the tariff news helping sentiment," said Mike van Dulken Head of Research at Accendo Markets in London. "Over all, it's the easing in trade tensions that's playing into markets. "Trump is a master of keeping us on our toes and we've had similar threats before but it has been deferred," van Dulken said.Madrid's bank-heavy IBEX was the only laggard, after Morgan Stanley lowered its earnings estimates for Spanish banks for 2020 and 2021, factoring in a flatter yield curve as a result of the European Central Bank's swing towards taking new steps to reduce interest rates. Novo Nordisk rose about 5 per cent, the most on the benchmark index, with data on cardiovascular outcomes from competitor Eli Lilly's diabetes drug seen as underwhelming. Hugo Boss rose 4 per cent after shares of the German fashion house were upgraded to "equal-weight" from "underweight" by Morgan Stanley for the luxury retailer's strategic plan to reposition the brand under two labels.British fashion retailer Ted Baker tumbled 25.6 per cent, after it issued a disappointing annual profit forecast, citing an "extremely difficult" start to 2019.

Source: Economic Times June 11, 2019 08:48 UTC