European Shares Gain Ahead Of Central Bank Meetings

RTTNews | 618 days ago
European Shares Gain Ahead Of Central Bank Meetings

(RTTNews) - European stocks advanced on Monday ahead of a busy week of earnings, economic data releases and central bank meetings.

The Federal Reserve, Bank of Japan and Bank of England all are set to announce their monetary policy decisions this week.

On the earnings front, Apple will unveil its financial results on Thursday after the U.S. closing bell.

The U.S. jobs report due out on Friday is expected to show that employers slowed their hiring pace last month, following robust payroll increases earlier in the year.

Meanwhile, investors shrugged off official data showing that Germany's economy shrank slightly in the third quarter.

GDP fell by 0.1 percent sequentially in adjusted terms, the federal statistics office said.

The pan European STOXX 600 was up 0.7 percent at 432.39 after losing 0.8 percent on Friday.

The German DAX and France's CAC 40 both rose about 0.6 percent while the U.K.'s FTSE 100 was up 0.8 percent.

Swiss firm Clariant AG rallied 2.2 percent after an announcement that it would acquire Canada's Lucas Meyer Cosmetics from International Flavors & Fragrances in an all-cash deal for $810 million.

Ascential soared 35 percent in London after the information and analytics firm said it would sell its digital commerce and consumer research units for a combined enterprise value of 1.4 billion pounds ($1.70 billion).

Commodity trader and miner Glencore rose 1.2 percent despite cutting its 2023 nickel production guidance.

Frasers Group added 1.5 percent as it announced divestment of the IP of Missguided to Chinese clothing giant Shein.

Premier Foods rose 1.1 percent after buying breakfast brand FUEL10K in a £34m deal. Reckitt Benckiser advanced 1.4 percent after launching the first tranche of its share buyback program.

ArcelorMittal shares slumped 4.4 percent. At least 32 people were killed Saturday when a fire broke out at a mine in Kazakhstan belonging to the global steel giant.

Siemens Energy shares jumped more than 9 percent. Supervisory Board Chairman Joe Kaeser said in an interview with newspaper Welt am Sonntag that talks with the German government are about state guarantees, not a direct cash injection.

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