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BREAKING NEWS

Banks, miners and cars pull up European shares

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Banks, miners and cars pull up European shares

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European shares finished up on Tuesday, but off their earlier highs. The banking sector performed strongly, helped by US investment bank Goldman Sachs posting earnings that were better than had been forecast.

Another factor – investors seem more hopeful that Federal Reserve policymakers will not increase interest rates when they meet next week and the the pound dropped against the euro on the belief that the Bank of England will not increase the cost of borrowing in the UK anytime soon.

Daimler rose 3.2% on news that the German carmaker will resume share buybacks, spending up to six billion euros. Airlines benefited from the lower cost of crude oil and higher commodity prices along with takeover speculation pushed up shares in mining companies.