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Markets: telcos turn Europe's shares around; oil surges on suspected tanker attack

Video Credit: Reuters Studio - Duration: 01:35s - Published < > Embed
Markets: telcos turn Europe's shares around; oil surges on suspected tanker attack

Markets: telcos turn Europe's shares around; oil surges on suspected tanker attack

A surge in telcos on Germany's completion of its 5G mobile spectrum auction pulled European shares higher on Thursday, overturning a weak opening.

And, as David Pollard reports, oil prices surged on reports of an attack on tankers in the Gulf of Oman, near Iran.

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Markets: telcos turn Europe's shares around; oil surges on suspected tanker attack

Mixed signals triggered an unsteady start to Europe's share markets on Thursday.

If for Germany's 5G mobile spectrum auction, there was good reception after 497 rounds of bidding, the six and a half billion euros pledged was far more than expected.

But puts a heavy demand on operators, some complained, and, according to DT's Germany chief Dirk Woessner, leaves "a bitter aftertaste".

It was a sweet one for investors in 1&1 Drillisch - a new entrant whose shares put on nine per cent after the auction news.

And Thursday's surge in telcos helped turn bourses from red at the start - to black soon after.

Keeping a lid on sentiment: Trump and trade.

Amid Washington's ongoing tariff tiff with Beijing, the U.S. president called the relationship 'testy' on Wednesday.

He would not set a date for a further round of U.S. tariff hikes.

(SOUNDBITE)(English) U.S. PRESIDENT DONALD TRUMP SAYING: "My deadline is what's up here.

We'll figure out the deadline....Nobody can quite figure it out." It leaves as still open the question of whether a trade deal can be reached: Trump is due to meet China's Xi Jinping at the end of the month.

Possible distress signals, meanwhile, are driving oil markets.

A suspected attack on two tankers in the Gulf of Oman near Iran pushed oil prices up as much as 4%.

The surge a welcome relief perhaps for bulls who've endured a prolonged sell off since late April.

If for anybody else, the reports bring another set of global tensions back into focus.




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