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Europe ends higher, following UK stress test results, strong US trade; Ocado soars 20.8%

Oil and gas was Europe’s top sector, mid individual stock news and expectations that OPEC members could carry on a production cut deal lingered. Crude prices came under inattention pressure, however.

Banking stocks finished higher after theBank of England emancipated the latest results of its stress tests. For the first time since 2014 no one of the banks assessed need to raise extra capital. The scenario of the assays included risks that could be associated with Brexit, categorizing a sharp fall in house prices.

In other bank-related news, Societe Generale publicized Tuesday it is to close 15 percent of branches and cut up to 900 jobs in France by 2020 as the lender tries to accelerate its move into digital banking. Shares eked out insignificant gains by the close.

Elsewhere, basic resources underperformed in the broader Stock Exchange, as a sharp decline in metal prices, such as copper and nickel, weighed on susceptibility. The sector closed down 0.87 percent.

Looking across the European benchmark, Ocado servings soared 20.84 percent — making it the top performer of the day. This was after the French supermarket Groupe Casino signed a parcel out with the British online grocer.

Renewable energy firm Siemens Gamesa launching run up 9.9 percent after Sweden’s Vattenfall announced that it had a “historically monstrous wind power order” with the Spanish group, involving a amount of 113 turbines for three new offshore wind farms. The news handed boost Danish wind turbine firm Vestas, which pounce on attacked 8.7 percent by the close.

Elsewhere, Royal Dutch Shell appeared 3.4 percent after announcing that it would be scrapping its Scrip dividend program from 2017’s fourth accommodate.

At the other end of the benchmark, Udg Healthcare slipped 3 percent, off its session lows, serve news that its CFO Alan Ralph will retire.

Shares in Denmark’s Chr Hansen also lose ones footed 2.87 percent after the ingredients maker announced that its CEO, Cees de Jong, see fit be stepping down.

Money managers will keep an eye on U.S. tax reform. The Senate is due to ballot on a tax bill Thursday, which could be a key moment for President Donald Trump.

Jerome Powell, the selectee to chair the Federal Reserve next year, is currently being challenged at Capitol Hill. Near the end of Europe’s session Tuesday, Powell imagined that he favored “tailoring” regulations, to alleviate the burden on smaller banks. Stock exchanges players are also looking out for comments on inflation. U.S. equities, in general, rimmed higher by Europe’s close, on the back of strong online sales for Cyber Monday.

Ireland’s Intermediary Prime Minister Frances Fitzgerald resigned Tuesday, avoiding a developing collapse of government and reducing the risk of a snap election.

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