A surge in telecom stocks on Germany's completion of its 5G mobile spectrum...
- A surge in telecom stocks on Germany’s completion of its 5G mobile spectrum auction pulled European shares higher on Thursday, overturning a weak opening as investors continued to worry about global trade tensions.
The moves drove the European telecom index 0.6% higher and, allied to gains for oil companies after a surge in crude prices, pulled the pan-European STOXX 600 index 0.16% higher by 0815 GMT.“Focus will now switch to whether Drillisch will proceed with a mobile network build, but it could be several months before the outcome is known,” UBS analysts said in a note on the tender.
The recovery has come largely on hopes that the U.S. Federal Reserve and European Central Bank will take action to impede any slowdown in global growth in the wake of the trade tensions that have plagued markets and major economies over the past year.
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