Home Ethereum European equities edge up; Economy-sensitive stocks shine

European equities edge up; Economy-sensitive stocks shine

European equities edge up;  Economy-sensitive stocks shine

(RTTNews) – European stocks edged higher in cautious trading on Monday, with economically sensitive stocks leading gains on positive data from China and the United States.

Sentiment also strengthened after a survey showed investor sentiment in the euro zone improved slightly in August compared to the previous month.

The Sentix index for the 19-country currency bloc rose to -25.2 points from -26.4 in July.

“The economic situation in the euro zone remains challenging. A recession is still very likely amid low consumer confidence, inflation and high energy prices,” Sentix noted.

After a surge in US nonfarm payrolls in July boosted the odds of a third rate hike by 75 basis points in September, investors are now awaiting the release of US inflation data. US and UK GDP data this week for a new direction.

The pan-European Stoxx 600 rose half a percent to 438 after losing 0.8 percent on Friday. The German DAX gained 0.3%, the French CAC 40 index climbed 0.6% and the British FTSE 100 gained 0.3%.

Miners traded mixed trade despite robust export data from China.

Oil and gas company BP Plc rose half a percent and Shell added 0.3 percent.

Page Group fell 7% in London after the recruiter noted a “slight slowdown in time to hire” in July in some of its markets.

Joules jumped 50% after saying it was in talks with its biggest rival Next for the latter to take a strategic stake in the struggling British fashion chain.

French utility Veolia gained 1% after confirming a deal to sell Suez’s UK waste business to Australian group Macquarie for around 2.4 billion euros ($2.4 billion).

German engineering services firm Bertrandt gained 1% after reporting higher net profit and revenue in the first nine months of the financial year.

Telecoms provider Q.beyond fell about 1% after reporting a second-quarter loss.

Siemens Energy, the supplier of equipment for the energy industry, lost 1.5% after widening its quarterly loss.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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